Medical Fluid Bags Market Soaring at 7%CAGR During the Period 2017 - 2024

MaketStudyReport.com adds a New Medical Fluid Bags Market Research Report for the period of 2017 - 2024 that shows the growth of the market is rising at 2024.
Medical Fluid Bags Market size is poised to surpass USD 4 billion by 2024; according to a new research report.
Enhancing textile and apparel market will likely be the principal driving factor for global Medical Fluid Bags market growth. Artificial Medical Fluid Bagss derived from plant based pulps are heavily used in textile industries for apparel manufacturing. Growing GDP and increasing expendable income coupled with rapidly increasing population, regularly upgrading fashion style, and better quality and cost efficient textiles will have a positive effect on the global textile and apparel market in the upcoming years.
Global textile and apparel market recorded over USD 1 trillion in 2015 and is projected to grow substantially up to 2024. Emerging economies such as India, China, and certain African countries will witness a steady growth in demand owing to availability of economical labor force for the large number of textile manufacturing industries, hence propelling the overall Medical Fluid Bags market growth.
Medical Fluid Bagss are manufactured from dissolving pulp from cellulose rich plants such as cotton, jute, bamboo, flax, hemp, etc. Abundant availability of these plants shall influence the global Medical Fluid Bags market size significantly in the next eight years. Cotton plants have around 90% cellulose content and world cotton production was over 20 million tons in 2015 with India and China producing over 10 million tons. High number of pulp industries are present in the product value chain for supply of raw materials. Over 7 million tons dissolving pulp was produced from various sources all over the globe in 2015 and China had around 20% of the overall share.
Ecofriendly nature of Medical Fluid Bagss over petrochemical based alternatives such as nylon and polyester will likely be another propelling factor for the market growth. These fibers are produced out of pulp from barks, woods, and leaves of cellulose rich crops and are biodegradable unlike nylon or polyester fibers. Also, stringent volatile organic compounds (VOCs) norms will support the growth of the global Medical Fluid Bags market in the next eight years.
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The above information is provided on a regional and country basis for the following:
 North America
 Europe
 Asia Pacific
 Latin America
 MEA
Medical Fluid Bags preparation market by Application:
 Spun yarn
 Fabrics
 Clothing
 Others
Growth drivers:
 Rising textile market
 Abundance of raw material
 Environment friendly properties
 Industry pitfalls and challenges
 Regulatory policies regarding forestry
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Medical Fluid Bagss find application in spun yarns, fabrics, clothing, and other areas including tapes, adhesives, sound proofing, etc. Clothing applications will hold sway over the forecast timespan with over 60% of the market share, registering revenue beyond USD 10.5 billion in 2015. Increasing expendable income along with fashion awareness will support the market growth in the projected forecast timeframe.
Spun yarn applications generated revenue over USD 2 billion in 2015 and will witness a decent growth owing to rising knitting and embroidery demand. Large number of textile manufacturers in Asia Pacific will support the product market growth in the region in the next eight years. The regional market size was beyond USD 7 billion in 2015 and will grow by over 9.5% CAGR up to 2024.
Strict forest laws against deforestation may restrain the market growth in the forecast timespan. Global pulp industry is gradually shifting towards Asia Pacific and African countries due to the mandatory regulations in North America and Europe. Inconsistent wood pulp prices on account of the norms may affect the Medical Fluid Bags market negatively. Cost effective labor force for textile industries in African countries may enhance the MEA Medical Fluid Bags market notably in the projected forecast timespan.
Competitive landscape is moderately consolidated and the top market players include Lenzing SA, Tangshan Sanyou, Grasim Industries, Shandong Helon, Fulida, and Aoyang.
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