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Spunbond Nonwovens Market Size, Share, Trends, Insights And Forecast To 2033
Spunbond Nonwovens Market
According to The Business Research Company's, The spunbond nonwovens market size has grown strongly in recent years. It will grow from $14.61 billion in 2023 to $15.67 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to raw material advancements, increased end-use applications, growing awareness of sustainable practices, regulatory support and standards, market consolidation and mergers.
The spunbond nonwovens market size is expected to see strong growth in the next few years. It will grow to $20.48 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to innovative product development, rising demand for lightweight materials, emerging market opportunities, focus on circular economy, strategic alliances and partnerships. Major trends in the forecast period include increasing demand for sustainable materials, technological advancements in production processes, growing application in hygiene and medical sectors, expanding geographical markets, customization and product diversification.
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Market Drivers and Trends:
The rising production of automobiles is driving the spunbond nonwovens market going forward. Automobiles are self-propelled vehicles that are designed for transportation on roads. Spunbond nonwovens are widely used in car carpets and for temperature and sound insulation in automobiles as these nonwovens have high resistance and high tensile strength properties along with uniform fiber distribution, as a result, rising production of automobiles increases the demand for spun-bond nonwovens. For instance, in April 2022, according to the European Automobile Manufacturers' Association (ACEA), a Belgium-based automobile trade association, the world motor vehicle production volume reached 79.1 million units in 2021, which was an increase of 1.3% as compared to 2020. Additionally, in March 2023, according to the US Federal Reserve, a US-based central banking system, 1.87 million autos were produced in the USA, increasing from 1.71 million in February 2023. Therefore, the rising production of automobiles drives the spunbond nonwovens market.
Major companies operating in the spunbond nonwovens market are developing new sustainable nonwoven products to gain a competitive edge in the market. Sustainable nonwoven products refer to materials that are produced and designed with a commitment to environmental responsibility and long-term ecological balance. For instance, in October 2023, PFNonwovens (PFN), a Czech Republic-based nonwoven fabrics company, launched a sustainable product portfolio using 100% renewable and compostable materials, particularly polylactic acid (PLA) resins. Employing Reicofil 5 technology, the company aims to address environmental concerns in the nonwovens industry. The new PLA-based nonwovens offer eco-friendly solutions with a focus on softness, meeting industry standards for applications like hygiene products and medical use.
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Major Key Players of the Market:
Asahi Kasei Corporation; Kimberly-Clark Corporation; Mogul Co Ltd.; Kuraray Co Ltd.; Johns Manville Corporation; Avgol Ltd.; Berry Global Inc.; Toray Industries Inc.; Fitesa SA; Mitsui Chemicals Inc.; Radici Partecipazioni SpA; Ahlstrom-Munksjö Oyj; Kolon Industries Inc.; PFNonwovens Czech sro; Freudenberg Group; Sunshine Nonwoven Fabric Co Ltd.; KT Exports Private Limited; Hydroweb GmbH; Schouw & Co; Pegas Nonwovens SA; DuPont de Nemours Inc.; Glatfelter Corporation; Hollingsworth & Vose Company; Fibertex Nonwovens A/S; First Quality Nonwovens Inc.; Suominen Corporation; TWE Group; FiberVisions Corporation; Foss Manufacturing Company LLC; Fiber Dynamics Inc.; Fiberweb LLC; Lydall Inc.; Monadnock Non-Wovens LLC; Neenah Inc.; Precision Custom Coatings LLC; Sandler AG; Spuntech Industries Inc.; Tapyrus SA; Texel Technical Materials Inc.; Toyobo Co Ltd.
Spunbond Nonwovens Market 2024 Key Insights:
• The spunbond nonwovens market will grow to $20.48 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
• Surge In Automobile Industry To Drive Market Growth
• Product Innovations Reshaping The Spunbond Nonwovens Market
• Asia-Pacific was the largest region in the spunbond nonwovens market in 2023
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