HDPE Nonwoven Market 2021 Growth, Competitive Analysis, Future Prospects and Forecast to 2027
The HDPE nonwoven market share is anticipated to surpass USD 570.6 million by 2027, as per the latest study by Global Market Insights Inc.
Delaware, United States – August 5, 2021 /MarketersMedia/ —
The COVID-19 pandemic has created a positive impetus on the global HDPE nonwoven market size with increased demand for the manufacturing of various types of masks. HDPE non woven fabric also finds usage for the manufacturing of different products in the healthcare sector, which is expected to propel industry outlook through the coming years.
The industry growth is further driven by an increase in the adoption of collaborative strategies by major HDPE nonwoven manufacturers. For instance, in October 2020, chemicals industry leader, SABIC, entered into a partnership with Fibertex Personal Care for an array of nonwovens that use high-purity recycled plastics from the TRUCIRCLE portfolio and services provided by SABIC. The move is cited as an exciting step towards greater recyclability and a more sustainable supply chain for nonwovens.
Growth Drivers of HDPE nonwoven market are
• Rising application of HDPE nonwoven in geotextiles
• Growing demand for medical packaging
Speaking of other factors, the HDPE nonwoven market growth is impelled by the rising demand for geotextiles in a variety of applications, comprising construction, drainage, aquaculture, erosion control, and power plants. In addition, the increasing penetration of HDPE nonwoven in developed economies comprising France, Germany, Saudi Arabia, and other countries in Europe is expected to drive HDPE nonwoven industry share through the forecasted period.
There is a heavy demand for spun-bond nonwoven owing to numerous advantages such as ease of production, excellent durability, and cost-effectiveness. In fact, the segment held a dominating share of 43% in 2020 and is estimated to expand at a CAGR of 5.9% between 2021 and 2027. Besides, the market is slated to witness an escalated demand for dry-laid nonwovens. These fibers are expected to record appreciable growth through the anticipated period.
Considering the latest trends, the HDPE nonwoven market is characterized by the surging usage of nonwovens in the packaging sector. The segment is expected to record a share of nearly 20.2% by 2027. This is due to the increasing product application in the sector of medical packaging. Rapid urbanization and industrialization in emerging economies is expected to augment product demand in the medical packaging as well as industrial sectors.
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On similar lines, the HDPE nonwoven market is expected to gain commendable proceeds from North America due to emerging applications in the packaging sector. The region is characterized by an escalated demand for medical equipment and devices which is expected to augment industry revenue through the projected period.
Furthermore, the Asia Pacific recorded a dominating value of 36% of the global HDPE nonwoven market size in 2020. This growth is attributed to the rising product demand in numerous applications comprising industrial packaging, medical & pharmaceutical packaging, masks, geotextiles, industrial protective apparels, and surgical drapes & cloths. A major share of the regional revenue came from China on account of increasing product application in the geotextile sector.
On the whole, increasing construction activities and the emerging demand for geotextiles will escalate HDPE nonwoven market share through the estimated span.
About Global Market Insights Inc.
Global Market Insights Inc. headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Contact Info:
Name: Arun Hegde
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Organization: Global Market Insights Inc.
Phone: 1-302-846-7766
Website: https://www.gminsights.com/pressrelease/hdpe-nonwoven-market
Source: MarketersMedia
Release ID: 89040312
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