SELBYVILLE, Del. - October 26, 2020 - (Newswire.com)
Based on Global Market Insights Inc., report, the melt blown nonwovens market was valued at $1.01 billion in 2019 and is slated to exceed $2.8 billion by 2026, registering a CAGR of -16.3 from 2020 to 2026. The report provides a comprehensive analysis of the drivers & opportunities, key winning strategies, market estimations and size, wavering industry trends, competitive scenarios and top investment avenues.
The melt-blown nonwovens market is likely to be driven by rising disposable income and increased hygiene awareness among the population. The rapidly increasing product demand from filtration coupled with rising product penetration in surface cleaning wipes will further favor industry growth.
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With respect to the product spectrum, the fine fibers segment is likely to reach a valuation of approximately $2.4 billion by the end of the analysis timeline owing to its wide range of applications across numerous end-user industries. The product is mainly utilized in hygiene, liquid filtration, and medical products. The rapidly growing demand for filters, PPE kits, masks across medical and other industries will fuel the melt blown nonwovens market growth over the coming years.
Meanwhile, the globally increasing demand for protective face masks and apparel such as disposable drapes, sterilization wraps, and gowns after the outbreak of coronavirus has significantly led to high demand for melt blown nonwovens materials. The emerging demand for melt blown nonwovens across medical applications owing to the ongoing global pandemic is considered as one of the major factors driving the industry growth. Moreover, due to the expanding cases of COVID-19 infection, the consumption of surgical and face masks has increased tremendously, which is further fueling the overall market outlook.
Key reasons for melt-blown nonwovens market growth:
- Surging air & filtration product demand from numerous end-user industries.
- Increasing demand for face masks.
- Rapid product penetration in surface cleaning wipes.
2026 forecasts anticipate the ‘polyamide’ materials segment showing appreciative growth:
In terms of materials, polyamide segment is likely to register more than 5.1% CAGR through the forecast time period owing to unique properties like good surface uniformity, moisture absorption, excellent durability, and water washable properties. The ability to bear low and high temperatures along with exceptional durability are some of the key advantages of the material that are likely to improve the melt blown nonwovens market consumption over the estimated time period.
North America and Europe to witness lucrative growth:
On the geographical front, North America may emerge as the second-largest consumer of melt-blown nonwovens and is likely to account for around 20% of the global industry share by the end of the analysis timeline. This anticipated growth is ascribed to the rising geriatric population across the U.S., which is one of the main factors influencing the nonwoven fabrics demand in adult diapers.
Meanwhile, in 2019, Europe held more than 25% revenue share and will continue to exhibit lucrative growth over the coming years. This anticipated growth can be attributed to the rapidly growing filtration and hygiene industry. In fact, the personal hygiene market in Europe seems to be rapidly expanding because of the rising awareness about hygiene amongst the rapidly growing elderly population, rising female workforce, and growing overall population. The rising population across Eastern European countries has also increased the melt blown nonwovens market demand over the years.
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Leading market players:
Notable market players analyzed in the melt blown nonwovens industry report include Freudenberg Performance Materials, Atex, XIYAO, Kimberly-Clarke, Irema Ireland, Jinan Xinghua Nonwoven Fabric, and Fiberweb technical nonwovens among many others. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Original Source: Melt Blown Nonwovens Market projected to exceed $2.8 billion by 2026, says Global Market Insights Inc.