In 2022, the global polypropylene yarn market reached a significant valuation of US$ 16.32 Billion, showcasing the industry’s robust growth. Projections for the foreseeable future indicate a steady upward trajectory, with a forecasted Compound Annual Growth Rate (CAGR) of 5.6%. This positive outlook underscores the continued demand and expanding opportunities within the polypropylene yarn sector, driven by factors such as versatility, cost-effectiveness, and the material’s diverse applications across various industries. As the market continues to evolve, stakeholders can anticipate sustained growth and development in the global polypropylene yarn market.
Polypropylene yarn is witnessing high demand from textile industries, since it is used for the manufacturing of carpets, socks, etc. Polypropylene yarn is lightweight and cost-effective, and also provides high strength to the end product. It has a hygienic structure, which does not cause any allergic reactions; it does not hold moisture and water, and it is dirt- and stain-resistant. Polypropylene yarn also has many color variants and is reusable. All these factors favour the use of polypropylene yarn in textile industries. Moreover, shifting focus of manufacturers in some developing regions towards the production of relatively cheap textiles in higher volumes is expected to pave the way for robust sales during the forecast period (2022-2029).
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“Polypropylene yarn is used in concrete mix designs for rigid pavement and self-compacting concrete. It is also used as a reinforcing agent, which is mixed with concrete to decrease shrinkage and control cracking in the construction industry. These factors are expected to drive the demand for polypropylene yarn from the construction industry and for other refractory applications.”
Key Takeaways from Global Polypropylene Yarn Market Study
- Polypropylene multifilament yarn is likely to be sought-after in the future, owing to its growing application in textile industries.
- In terms of consumption, Europe and the U.S. are the most prominent regions. Countries such as Belgium, the Netherlands, Spain, Germany, France, and Italy are the prime consumers of synthetic yarn (PP yarn), where Belgium and the Netherlands (BENELUX) are prime importers of synthetic yarns (PP yarn).
- Growing apparel industries across the world is expected to increase the demand for polypropylene yarn. Increasing demand for sportswear, blazers, etc., is also surging the demand for fine polypropylene yarn, as it is largely consumed in their production.
- Easy availability of raw wool in countries such as Australia and New Zealand, is driving polypropylene yarn production in this region. These countries produce various types of polypropylene yarn, such as Merion wool, Shetland wool, etc., in high volumes.
- Governments are taking initiatives for promoting the production of polypropylene yarn. For instance, the Indian Government is working to persuade growers to focus on wool production rather than meat production. Production in such countries is further backed by economical labour availability. Hence, a considerable amount of polypropylene yarn is produced in India, and is exported to international markets.
Market Trends and Outlook:
The polypropylene yarn market is expected to witness continued growth due to the increasing demand from various industries. The textile industry’s expansion, particularly in emerging economies, will drive the demand for polypropylene yarn in clothing and technical textiles. Additionally, the need for sustainable and eco-friendly packaging materials might lead to innovations in polypropylene yarn applications.
Competitive Landscape
Research & development, coupled with expansion of production capacity and footprint, remains the key strategy of polypropylene yarn manufacturers to enhance productivity and capture new market opportunities.
Top Key Players in the Global Market
- SWM
- Industrial Ponsa
- Thrace group
- Bonar Yarns
- Lankhorst Yarns
- William Barnet & Son, LLC
- Daman Polythread Ltd
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East Asia to Offer Lucrative Growth Opportunities
East Asia is anticipated to hold a prominent share in the global polypropylene yarn market, owing to the increasing textile industries in the region. Another key factor driving the growth of the polypropylene yarn market in East Asia is the focus of manufacturers on the customization of products as per specific applications. Polypropylene yarn is also prominently used in the production of apparel such sportswear, thermal wear, and active wear, which is further bolstering its sales in the region.
Polypropylene Yarn Market by Category
By Product Type:
- PP Multifilament
- PP Monofilament
By Application:
- Industrial Textiles
- Home Textiles
- Carpets
- Sports Accessories and Ancillaries
- Sportswear
- Active Wear
- Thermal Underwear
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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