H1 2023: Polypropylene Filament Yarn (PPFY) prices faced variations in the Asia Pacific region in H1 2023. The Polypropylene feedstock factories, maintained consistent operations throughout Q1 2023, ensuring that the supply in the market remained within standard levels. The upturn in feedstock prices and heightened restocking activities following the Spring Festival in the Chinese market played key roles in driving the observed price hikes. Additionally, there was a temporary resumption of stability in demand from downstream textile industries during Q1 2023, with continued robust procurement from the downstream sector. In Q2 2023, the Polypropylene Filament Yarn (PPFY) market witnessed a fluctuating price trend, initially experiencing a decline attributed to subdued demand from downstream textile sectors. The reduction in production costs, facilitated by decreasing raw material prices like polypropylene, contributed to the downward price movement in the Asian market. Household textiles procured less orders in May 2023 in India. However, prices saw a temporary increase in May 2023 in rest of Asia amid a partial uptick in demand fundamentals before sharply declining again due to weak uptake from downstream sectors. Simultaneously, the export activity to the western nations from the Asia Pacific region also witnessed a deterioration by June 2023.
The global Polypropylene Filament Yarn (PPFY) market stood at approximately 9.4 million tonnes in 2022 and is anticipated to grow at a healthy CAGR of 4.1% during the forecast period until 2032. Polypropylene Filament Yarn is a thermoplastic polymer characterized by a carbon-carbon bond backbone. The manufacturing process of polypropylene involves utilizing either the gaseous form of propene or a slurry of liquid propane. Employing a catalyst, the polymerization process is advanced to produce Polypropylene Filament Yarn.
Polypropylene filament yarn, recognized for its flexibility and durability, serves diverse purposes across multiple industries. In the textile sector, it plays a crucial role in crafting fabrics, ropes, nets, and other textile products, benefiting from its robust strength and resistance to abrasion. The yarn's adaptability extends to industrial applications, where it is utilized in manufacturing conveyor belts, industrial ropes, and safety nets due to its robust yet lightweight characteristics. In the automotive industry, polypropylene filament yarn finds applications in seatbelts, upholstery, and interior components, capitalizing on its chemical resistance and UV radiation resilience. The home furnishings sector incorporates this yarn into carpets, rugs, and upholstery fabrics, leveraging its color fastness. Moreover, the yarn caters to the sports and leisure industry, contributing to the production of sports gear, nets, and ropes with its weather-resistant properties suitable for outdoor use. Overall, polypropylene filament yarn's versatility positions it as a valuable material across a spectrum of applications, showcasing its significance in diverse industrial domains.
The global polypropylene yarn market is poised for growth, fueled by the expansion of the textile industry on a global scale, evolving lifestyles, and the escalating utilization of PP yarn in the production of a diverse range of products, spanning home furnishings, apparel, and personal protective equipment. Recognized as one of the lightest and most versatile materials in the textile sector, polypropylene yarn finds application in carpets, sportswear, innerwear, and various other products, benefiting from its lightweight nature, cost-effectiveness, high strength, and recyclable properties.
The surge in population, particularly in developing regions such as China and India, is steering manufacturers toward the production of economical textiles, propelling the growth of the polypropylene yarn market. The global Polypropylene Filament Yarn (PPFY) market size is anticipated to reach nearly 14 million tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of Polypropylene Filament Yarn (PPFY).
In the upcoming forecast period, the Asia Pacific region is poised to dominate the Polypropylene filament yarn market, capturing a substantial market share. This prominence can be attributed to the region's dynamic factors, including rapid industrialization, particularly in economic powerhouses like China and India. The burgeoning textile industry in Asia Pacific, influenced by evolving consumer lifestyles, stands out as a primary driver, propelling the demand for Polypropylene filament yarn in applications ranging from textiles to industrial uses. Additionally, the automotive industry in the region significantly contributes to the demand for Polypropylene filament yarn, utilized in various components like seatbelts, upholstery, and interior elements. As Asia Pacific continues its robust economic growth and industrial expansion, the Polypropylene filament yarn market is poised to witness sustained demand, consolidating its significant market share in the foreseeable future.
Based on the end-user industry, the global Polypropylene Filament Yarn (PPFY) market is divided into Industrial Textile, Domestic Textile, Sports Accessories, and Others. However, Industrial Textile industry dominates the global Polypropylene Filament Yarn (PPFY) market followed by Domestic Textile industry.
Major players in the Global Polypropylene Filament Yarn (PPFY) market are Barnet, Chemosvit A.S., Dongguan New Poly Fibre Products Co. Ltd., Industrias Ponsa, Lankhorst Yarns, Shanghai Yishi Industrial Co., Ltd., Shin Sung Co. Ltd., Thrace Group, and Others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Polypropylene Filament Yarn (PPFY) which covers production, demand and supply of Polypropylene Filament Yarn (PPFY) market in the globe.
• To analyse and forecast the market size of Polypropylene Filament Yarn (PPFY)
• To classify and forecast Global Polypropylene Filament Yarn (PPFY) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Polypropylene Filament Yarn (PPFY) market in the globe.
To extract data for Global Polypropylene Filament Yarn (PPFY) market, primary research surveys were conducted with Polypropylene Filament Yarn (PPFY) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Polypropylene Filament Yarn (PPFY) market over the coming years.
ChemAnalyst calculated Polypropylene Filament Yarn (PPFY) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Polypropylene Filament Yarn (PPFY). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Polypropylene Filament Yarn (PPFY) manufacturers and other stakeholders
• Organizations, forums and alliances related to Polypropylene Filament Yarn (PPFY) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Polypropylene Filament Yarn (PPFY) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Polypropylene Filament Yarn (PPFY) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
9.4 million tonnes
Market size Volume in 2032
14 million tonnes
Growth Rate
CAGR of 6.7% from 2023 to 2032
Base year
2022
Estimated Year
2023
Historic Data
2015 – 2021
Forecast period
2024 – 2032
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Industrial Textile, Domestic Textile, Sports Accessories, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Osaka Gas Co. Ltd
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What was the net market size of Polypropylene Filament Yarn (PPFY) in terms of volume in 2022?
Ans:
The global market size of Polypropylene Filament Yarn (PPFY) had reached approximately 9.4 million tonnes in 2022.
Q2.
Which region is the major consumer of Polypropylene Filament Yarn (PPFY)?
Ans:
Asia Pacific region is the leading consumer of Polypropylene Filament Yarn (PPFY) globally.
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