Nonwoven Materials and Products Market to Receive Upward Thrust Due to Rising Demand from Healthcare Industry: Transparency Market Research
A research report based on the global market for nonwoven materials and products, published by U.S.-based Transparency Market Research states that the market will grow at a modest CAGR of 6.7% between 2013 and 2019. The study, titled “Nonwoven Materials & Products Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”, indicates that the market, which earned revenues worth US$28,783.8 million in 2012, will amass revenues worth US$45,363.7 million in 2019.
The report states that an increased global demand for nonwoven materials and products from the medical and healthcare industry is largely responsible for the steady growth of the market in the near future. However, according to a TMR analyst, “Issues regarding the volatility of these products and saturation of the market in developed countries could act as a restraining factor for the market.The report segments the global nonwoven materials and products market on the basis of key products, chief application areas, and key regional markets.
The segment of products is further divided into polypropylene, nylon, polyester, bio-component fibers, nano-fibers, and cellulosics. Of these, polypropylene nonwoven fabric held the largest share of market revenue and had a net worth of US$16,438.7 million in 2012. A huge application base of polypropylene nonwoven fabrics in the global market will continue to heighten its demand, leading to the segment’s growth at a CAGR of 6.7% between 2013 and 2019 to reach a market worth of US$25,808.2 million by 2019.
The segment of application areas is further fragmented into disposable (medical products, filters, and disposable wipes) and durables (geotextiles, home furnishings, and wall coverings). Of the key application areas for nonwoven materials and products, durables accumulated the largest share of revenue acquired by the market in 2012. According to the report, this segment generated revenue worth US$17,716.0 million in 2012 and is expected to reach US$28,335.6 million in 2019, registering a CAGR of 7.0% between 2013 and 2019.
Disposables have observed a sharp rise in demand for medical disposables over the past few years. The medical disposables segment will continue to result in increased demand for nonwoven materials and products in the forecast period as well. For a region-based analysis, the global market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Of these, the regional market for Asia Pacific acquired the largest share of demand for nonwoven materials and products in 2012, owing to rising demand from the medical, agriculture, and construction industries in the region.
Key businesses operating in the global nonwoven materials and products market include Ahlstrom Incorporation, Kimberly-Clark Corporation, Freudenberg SE, Polymer Group Incorporation, Asahi Kasei Corporation, and Du Pont.
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