Spunbond Nonwoven Market: Market Players Leveraging on Growth Opportunities |
The global spunbond Nonwoven market size is expected to gain momentum by reaching USD 20.79 billion by 2028 while exhibiting a CAGR of 6.2% between 2021 to 2028. In its report titled “Spunbond Nonwoven Market, 2021-2028,” Fortune Business Insights mentions that the market stood at USD 13.01 billion in 2020 and is estimated to reach USD 13.68 billion in 2021.
Spunbond Nonwoven are a collection of unbroken filaments made through fiber spinning, netting formation, and then bonding process. Its increasing adoption in personal care such as baby diapers, adult incontinence products, and medical products such as covers, face masks, gowns, gloves, and wipes are expected to spur its demand during the forecast period Additionally, it provides flexibility, durability, lightweight, and easy processing while providing one-time use of products is leading to high production of disposable products. Furthermore, the changing preference of consumers towards disposable products is leading manufacturers to accelerate and offer newer and advanced Nonwoven products.
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The global pandemic caused by the spread of the novel coronavirus has had a moderate damaging impact on the market. As amid COVID-19, demand for masks, gloves and other protective equipment increased and this, in turn, increased demand for these unbroken filaments. However, due lockdowns and travel bans were imposed by the government’s worldwide supply chain got disrupted. Additionally, the shutting down of businesses except for essential services with minimal workforce affected its demand in construction works. This has directly impacted the demand for spunbond Nonwoven material.
By function, the market is bifurcated into disposable and durable.
By material, it is divided into polypropylene, polyethylene, polyester, and others.
By application, it is segmented into personal care & hygiene, geotextiles, medical, and others.
Based on application, the geotextile segment held a market share of 17.6% in 2020. This is attributable to the increasing usage of these in construction activities such as roads, landfills, harbors, railroads, and drainage structures for enhancing soil stabilization. Furthermore, investment by the government in infrastructure projects is anticipated to drive the segment growth.
Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The report provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to contribute to the market growth.
List of Key Players Profiled in the Report
- Aktieselskabet Schouw & Co. (Denmark)
- DuPont (U.S.)
- MITSUI CHEMICALS AMERICA, INC. (U.S.)
- Asahi Kasei Corporation (Japan)
- PFNonwovens Holding s.r.o. (Czech Republic)
- Toray Industries, Inc. (Japan)
- KOLON Industries, Inc. (South Korea)
- Berry Global Inc. (U.S.)
- Avgol Industries (Israel)
- RadiciGroup (Italy)
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Drivers & Restraints:
Increasing Demand for Disposable Personal Care Products to Drive Market Growth
The rising demand of technical textiles and personal care is expected to spur the demand. These unbroken filaments are used in the manufacturing of masks, gloves, bandages, and surgical gowns. The COVID -19 outbreak has increased demand for personal hygiene and thus people are inclined towards disposable masks and gloves. Additionally, companies are also supporting and manufacturing disposable and sustainable products to meet the growing consumer demand during the pandemic. These factors are expected to promote spunbond Nonwoven market growth during the forecast period.
However, the volatile raw material costs may impede market growth.
Asia Pacific Set to Dominate Market Backed by Increasing Population in Region
The Asia Pacific is expected to remain at the forefront and hold the largest position market during the forecast period. This is attributable to economic development and rising population in the region. This has increased demand for personal care & hygiene products. Furthermore, rapidly growing construction, automotive, and medical industries are also favoring the regional market. The region’s market stood at USD 5.44 billion in 2020.
North America is expected to showcase significant spunbond Nonwoven market share in the upcoming years. This is because there is a rise in the medical industry in the region. Additionally, people are more aware of the health and prevalence of diseases. This has led to increased spending on healthcare services and goods, which in turn is favoring the regional market.
Key Players to Focus on Collaborations & Partnerships to Strengthen their Market Prospectus
The global market for shore power has a large number of prominent companies that are constantly trying to develop unique solutions to cater to the demand from across the globe. To do so, they are joining hands with local or reputed firms, launching new solutions to strengthen their portfolio in the market. Below are the industry developments:
- March 2021 – The subsidiary of Schouw & Co, Fibertex Nonwovens invested around USD 47.82 million for capacity expansion in two company plants in the U.S. The company also aims to invest in Europe, Czech Republic and Turkey for capacity expansion.
- May 2020 – Berry Global Group, Inc. made an announcement that it will invest USD 8 million to support the expansion of the spunmelt nonwoven capacity. The spunmelt nonwoven capacity will have installation of new equipment for improving production lines to optimize production of in-demand spunmelt.
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