According to the report, the global nonwoven fabrics industry generated $38.3 billion in 2020, and is anticipated to generate $68.1 billion by 2030, witnessing a CAGR of 6.0% from 2021 to 2030.
Prime determinants of growth
Increased demand for nonwovens in healthcare industry, growing demand for nonwoven fabrics in textile industry, demand for lightweight and fuel-efficient transportation vehicles drive the growth of the global nonwoven fabrics market. However, availability issues associated with raw materials and volatility in raw material prices hinder the market growth. On the other hand, proliferation of new technologies presents new opportunities in the coming years.
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Covid-19 Scenario
· Due to the outbreak of the Covid-19 pandemic, the demand for nonwoven hygiene products has increased substantially in the healthcare centers, which in turn, has positively impacted the global nonwoven fabrics market.
· Nonwoven fabrics are widely used to manufacture healthcare essentials, such as face masks, isolation gowns, drapes, single-use caps, and shoe & head covers, which is expected to notably contribute toward the growth of the global market during the pandemic.
The durables segment to maintain its leadership status throughout the forecast period
Based on function, the durables segment held the highest market share in 2020, accounting for more than half of the global nonwoven fabrics market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 6.5% from 2021 to 2030. Increasing construction spending in emerging markets such as Brazil, China, and India have led to the demand for geotextiles in roads and buildings which in turn is expected to drive the demand for nonwovens in durable applications. The report also mentions disposables segment.
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The hygiene segment to maintain its lead position during the forecast period
Based on application, the hygiene segment accounted for the largest share in 2020, contributing to nearly three-fifths of the global nonwoven fabrics market, and is projected to maintain its lead position during the forecast period. This is because of growing consumption of nonwovens fabrics as an alternative to traditional textiles in hygiene products due to their excellent absorption properties, softness, smoothness, strength, comfort & fit, stretch ability, and cost-effectiveness. Moreover, the building & construction segment is expected to portray the largest CAGR of 7.1% from 2021 to 2030, owing to rise in construction spending in emerging markets such as Brazil, China, and India.
Asia-Pacific, followed by Europe & North America to maintain its dominance by 2030
Based on region, Asia-Pacific, followed by Europe & North America held the highest market share in terms of revenue 2020, accounting for around two-fifths of the global nonwoven fabrics market. Moreover, the same region is expected to witness the fastest CAGR of 6.6% from 2021 to 2030, owing to factors such as improving global economy, expanding working population, rising domestic demand for hygiene products. The report also includes North America, LAMEA, and Europe.
Leading Market Players:-
· Ahlstrom-Munksjo
· Berry Global Inc.
· Kimberly-Clark Corporation
· Glatfelter
· DuPont
· Toray Industries Inc.
· Lydall Inc.
· Fitesa
· Suominen Corporation
· Johns Manville
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