Spunbond Nonwovens Market Worth $18.3 Billion by 2023 - Exclusive Report by MarketsandMarkets™

Spunbond Nonwovens Market Worth $18.3 Billion by 2023 - Exclusive Report by MarketsandMarkets™

PR Newswire

CHICAGO, March 1, 2019

CHICAGO, March 1, 2019 /PRNewswire/ -- According to the new research report "Spunbond Nonwovens Market by Function (Disposable & Durable), Material Type (Polypropylene, Polyethylene, Polyester), End Use (Personal Care & Hygiene, Medical, Agriculture, Packaging, Automotive) and Region - Global Forecast to 2023", published by MarketsandMarkets™, the Spunbond Nonwovens Market is projected to grow from USD 12.7 billion in 2018 to USD 18.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period. Growing preference for spunbond nonwovens in comparison to other nonwovens, growing use in the medical sector, and high demand of polypropylene spunbond nonwovens are the key factors driving the growth of the Spunbond Nonwovens Market.

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Disposable is expected to be the fastest-growing function segment of the Spunbond Nonwovens Market.

Based on function, the disposable segment is projected to grow at the highest CAGR from 2018 to 2023. Disposable spunbond nonwovens are widely used by various end-use industries, major ones being personal care & hygiene and medical. There is a high demand for disposable spunbond nonwovens in these segments as it is an affordable alternative to traditional textiles and can be disposed-off after each use.

Polypropylene is expected to be the fastest-growing material type segment in the Spunbond Nonwovens Market.

Based on material type, the polypropylene segment is expected to grow at the highest CAGR from 2018 to 2023. Polypropylene spunbond nonwovens are the preferred material type by the key end-use segments such as personal care & hygiene and medical, and agriculture to some extent. Increasing awareness regarding the benefits of the material has resulted in the high demand globally.

Personal care & hygiene is expected to be the fastest-growing end-use segment in the Spunbond Nonwovens Market.

Based on end use segments, the personal care & hygiene segment is expected to grow at the highest CAGR from 2018 to 2023. Spunbond nonwovens have specific properties such as absorbency, liquid repellency, resiliency, stretchability, softness, strength, washability, cushioning, and bacterial barrier and sterility that allow them to deliver high performance, which is mainly required in the personal care & hygiene sector. Thus, there is a high demand for spunbond nonwovens by this segment.

Asia Pacific is expected to be the fastest-growing regional segment in the Spunbond Nonwovens Market.

The Spunbond Nonwovens Market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. China, India, Japan, and South Korea are the key countries contributing to the high demand for spunbond nonwovens in the Asia Pacific region. Availability of cheap labor and raw materials has resulted in making Asia Pacific a preferred region for expansion by the various leading manufacturers across the globe. This makes the region to be the fastest-growing Spunbond Nonwovens Market.

Some of the leading players operating in the Spunbond Nonwovens Market include Schouw & Co. (Denmark), Mitsui Chemicals, Inc. (Japan), Johns Manville Corporation (US), Fitesa S.A. (Brazil), RadiciGroup SpA (Italy), Avgol Nonwovens (Israel), Kimberly-Clark Corporation (US), Berry Plastics Group, Inc. (US), Toray Industries, Inc. (Japan), Asahi Kasei Corporation (Japan), Pegas Nonwovens SA (Luxembourg), Kuraray Co., Ltd. (Japan), Kolon Industries, Inc. (South Korea), E. I. du Pont de Nemours and Company (US), and Mogul (Turkey), among others.

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