According to Future Market Insights (FMI), the global polypropylene yarn market value is projected to reach USD 18,177.8 million in 2024 and USD 30,317.9 million by 2034. Over the assessment period, global demand for polypropylene yarn is predicted to surge at a CAGR of 5.2%.
The global polypropylene (PP) yarn market is anticipated to be influenced by the growth of the textile sector globally, shifting consumer lifestyles, and rising utilization of PP yarn for home furnishings & personal protective equipment. Polypropylene yarn, a lightweight, cost-effective, durable, and recyclable material, is widely used in the textile industry for various products, including carpets, sportswear, and innerwear.
Emerging nations such as China and India are focusing on producing affordable textiles due to their rapidly growing populations, thereby boosting the market. The demand for PPEs and face masks is increasing due to hospital-associated illnesses, making polypropylene the preferred material for healthcare items due to its sanitary properties.
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Textile manufacturers are focusing on sustainable practices to meet the rising demand for environmentally friendly polypropylene yarns, enhancing resource efficacy and reducing production waste. The market is experiencing significant growth due to its superior qualities in home textiles and automotive interiors, ensuring high tensile strength, lightweight, and water resistance.
Key Takeaways from the Report
- The global polypropylene yarn market is projected to thrive at 5.2% CAGR through 2034.
- By product type, the polypropylene multifilament yarn segment is set to reach US$ 12,925.1 million by 2034.
- By application, the home-textile segment is set to hold a market share of 30.3% in 2024.
- The United States is anticipated to reach US$ 3,397.1 million by 2034.
- China is projected to attain a valuation of US$ 5,231.1 million by 2034.
“Leading producers are incorporating cutting-edge technology to lower overall costs and facilitate production. Furthermore, throughout the projection period, the growing use of polypropylene yarn in the building sector is set to open up new potential opportunities for industry participants.” – says a lead analyst at Future Market Insights (FMI).
Competitive Landscape
Lotte Chemical Corporation, RadiciGroup, Indorama Ventures Public Company Limited, U. P. Filaments, Barnet, Daman Polythread Private Limited, and Polisilk are the key companies profiled in the full version of the report.
Leading manufacturers and suppliers of polypropylene yarn are actively engaged in continuous research to synthesize novel & innovative textile materials. They are inclined toward adopting several growth strategies, such as product development, mergers, and acquisitions, to stay competitive.
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Recent Developments-
- In November 2023, Barnet established a new distribution center in Asia-Pacific to meet the specific requirements for polypropylene yarns in the region.
- On 23 March 2023, Thrace Group introduced a new polypropylene packaging material tailored for food storage with optimized durability.
More Insights into the Polypropylene Yarn Market Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global polypropylene yarn market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034.
To understand the global market potential, growth, and scope, the market is segmented based on product type (monofilament yarn, multifilament yarn, textured yarn, spun yarn, dyed yarn, fibrillated yarn, tape yarn, air-textured yarn (ATY), and others), process type (partially oriented yarn [POY], fully drawn yarn [FDY], draw textured yarn [DTY], and others), application (sports accessories & ancillaries, home textiles, construction materials, automotive interiors, medical textiles, packaging materials, agricultural textiles, industrial textile, and others), and region.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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