Global nonwovens market to reach $64.8 billion by 2024
The latest market report from Smithers Pira, Leatherhead/UK, ‘The Future of Global Nonwoven Markets to 2024’ forecasts the global consumption of nonwovens to grow from a projected $46.8 billion in 2019 at an annual rate of 6.7% during 2019-2024 to reach $64.8 billion in 2024. This reflects confidence that relatively short-term issues like the China–US trade war, Brexit uncertainty, and other global issues affecting economic growth will be resolved (or at least accounted for) and nonwovens will grow at increased rates, especially after 2021.
With shifts in end-use demands increasing across the 5 years to 2024, the report identifies a number of key drivers and trends for the global nonwovens industry today: sustainability, regulatory issues, costs (energy/water/raw materials), user requirements and retail trends (private label versus brands).
The report identifies and quantifies the fastest growing market segments, regions and countries, the markets and regions that are driving growth, and those that are experiencing problems. The nonwovens processes that contribute to the global market are defined and their products and capabilities are studied. Sales from 2014-2024 are disclosed and projected by process. Key raw materials used in producing global nonwovens are identified, and their role within the market is defined and quantified, from 2014 through to 2024.