|03-15-2019 05:17 AM CET - Business, Economy, Finances, Banking & Insurance||
Polyolefin Market Outlook, Industry Overview Report 2023 - 3M, ES FiberVisions, Trevira GmbH, Bauder Ltd, Dorken GmbH & Co.KG, Polyglass, Alpek S.A.B. de C.V, Biobent Polymers, Durafiber, Honeywell International, Welspun India Ltd, Anhui Elite Industrial
Press release from: Market Research Future
Kelheim fiber, a prominent player in the market, has been granted the certificate of biobased product label for its range of Polyolefin Fiber by the U.S. Department of Agriculture for the products under the brand such as GALAXY, DANUFIL, and VILOFT. These products are sure to reduce the carbon emission level.
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According to a new report by Market Research Future (MRFR), the global market for Polyolefin Fiber is anticipated to showcase a staggering CAGR during the assessment period (2016-2023). Polyolefin Fibers are synthetic fibers which are extensively used in rugs and carpet manufacturing due to its properties such as inertness, high tensile strength, and abrasion resistance. Polyolefin Fibers are classified into polypropylene, and polyethylene. Polyolefin Fibers are majorly used in filament yarn, nonwoven fabric, and ropes.
Polyolefins are preferred over non-metallic and metallic substitutes as they are durable, capable of resisting chemical and physical damages, and more importantly, they are light in weight.
Global Polyolefin Market Segmentation
Globally the market for Polyolefin has been segmented into End-Use, Type and Region.
The market has been segmented into polypropylene and polyethylene Based on Type, among which polypropylene has been preferred for textile application.
The market has been segmented into medical, textile, packaging, automobile, and others based on End-Use Industry, among which textile holds 35 % of the market share.
Regionally, the market for Polyolefin has been segmented into five major regions which comprise Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.
Asia Pacific Accounts for the Largest Market Share
Geographically, the market for polyolefin has been spanned across Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. Among these five major regions, Asia Pacific has been accounted to hold the largest market share owing to the rapidly growing textile industry in regions like China, Thailand, and India. Owing to the existence of developed infrastructure and cost competitiveness in terms of manufacturing process and raw material, the demand for the product is growing in China region. There has been an increasing sale of online apparel due to access to a huge variety of products along with discounts is stimulating the demand of the product especially among the young population in India. In 2017, the U.S. based FiberVision along with Japan-based JNC Corporation formed a joint venture named ES FiberVision in Thailand. This joint venture company focuses on manufacturing superior quality biocomponent fiber in Thailand.
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North America is another flourishing market due to development in the textile industry as a result of steps taken by the government of the U.S. to promote domestic manufacturing. According to the National Council of Textile Organizations, the value for the U.S. textile shipments and apparel touched USD 77.9 billion in 2017 from USD 66.58 billion in 2009.
On the other hand, Europe is witnessing a significant growth rate, owing to the increasing development of technical textiles which is used in medical, automobile, and agrochemical textiles. Polypropylene is largely used in the manufacturing of automobile parts such as trunk liners, insulating fabric, and headliners due to its lightweight property.
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