Positive Growth Forecast Through 2029
According to Smithers' latest market report, "The Future of Industrial Nonwovens to 2029," demand for industrial nonwovens is expected to see positive growth through to 2029. The report tracks global demand for five types of nonwovens across 30 industrial end uses, highlighting the recovery from the impacts of the COVID-19 pandemic, inflation, high oil prices, and increased logistics costs.
Market Recovery and Regional Dominance
Smithers expects a general recovery in global nonwovens demand in 2024, reaching 7.41 million metric tons, mainly spunlace and drylaid nonwovens; the value of global nonwovens demand will reach $29.40 billion. At constant value and pricing, the compound annual growth rate (CAGR) is +8.2%, which will drive sales to $43.68 billion in 2029, with consumption increasing to 10.56 million tons in the same period.Key Industrial Sectors.
Construction
Construction is the largest industry for industrial nonwovens, accounting for 24.5% of demand by weight. The sector relies heavily on construction market performance, with residential construction expected to outperform nonresidential construction over the next five years due to post-epidemic stimulus spending and returning consumer confidence.
Geotextiles
Nonwoven geotextile sales are closely tied to the broader construction market and benefit from public stimulus investments in infrastructure. These materials are used in agriculture, drainage, erosion control, and road and rail applications, accounting for 15.5% of industrial nonwovens consumption.
Filtration
Air and water filtration is the second largest end-use area for industrial nonwovens, accounting for 15.8% of the market. Sales of air filtration media have surged due to the pandemic, and the outlook for filtration media is very positive, with an expected double-digit CAGR.
Automotive Manufacturing
Nonwovens are used in various applications within the automotive industry, including cabin floors, fabrics, headliners, filtration systems, and insulation. The transition to electric vehicles has opened up new markets for specialty nonwovens in on-board power batteries.
Post time: Dec-07-2024
