Market Recovery and Growth Projections
A new market report, “Looking to the Future of Industrial Nonwovens 2029,” projects a robust recovery in global demand for industrial nonwovens. By 2024, the market is expected to reach 7.41 million tons, primarily driven by spunbond and dry web formation. Global demand is expected to fully recover to 7.41 million tons, mainly spunbond and dry web formation; a global value of $29.4 billion in 2024. With a compound annual growth rate (CAGR) of +8.2% on a constant value and pricing basis, sales will reach $43.68 billion by 2029, with consumption increasing to 10.56 million tons over the same period
Key Growth Sectors
1. Nonwovens for Filtration
Air and water filtration is poised to be the second largest end-use sector for industrial nonwovens by 2024, accounting for 15.8% of the market. This sector has shown resilience against the impacts of the COVID-19 pandemic. In fact, the demand for air filtration media surged as a means to control the virus’s spread, and this trend is expected to continue with increased investment in fine filtration substrates and frequent replacements. With double-digit CAGR projections, filtration media are forecasted to become the most profitable end-use application by the end of the decade.
2. Geotextiles
The sales of nonwoven geotextiles are closely linked to the broader construction market and benefit from public stimulus investments in infrastructure. These materials are used in various applications including agriculture, drainage liners, erosion control, and highway and railroad liners, collectively accounting for 15.5% of current industrial nonwovens consumption. Demand for these materials is anticipated to outpace market averages over the next five years. The primary type of nonwovens used is needle-punched, with additional markets for spunbond polyester and polypropylene in crop protection. Climate change and unpredictable weather patterns are expected to boost the demand for heavy-duty needle-punched geotextile materials, especially for erosion control and efficient drainage.
Post time: Dec-07-2024
