Melt Spun Fibres Market Share, Demand, Top Players, Industry Size, Future Growth By 2029
The global melt spun fibers market is expected to develop drastically during the forecast period due to the rapid demand from the textile, pharmaceutical, and automotive sectors. Therefore, due to the robust demand, the market is expected to progress rapidly. Fortune Business Insights™ mentions this information in its report titled “Melt Spun Fibers Market, 2022-2029.”
Melt spun fibers are ribbons created from the melt spinning technique which is used for transforming metals into ribbon structures. It is used extensively in the textile industry to produce attractive dresses and other clothing materials. Melt spun fibers also used in creating yarns. Furthermore, melt spun fibers are used in the medical sector as a stitching fiber to stitch wounds in surgeries. In addition, it is used in the automotive industry to create safety belts, airbags, air filters, seat covers, automobile carpets, and other materials. Therefore, due to the rising adoption of the product in different applications, the product’s demand is expected to surge radically, which, in turn, can propel market growth in the foreseeable period.
Impact of COVID-19
Increasing Demand from Pharmaceutical Industry to Fuel Market Growth
This market is expected to grow positively during the COVID-19 pandemic due to its adoption in the pharmaceutical sector for sutures. It is used as a stitching thread to seal wounds created by trauma and surgeries. The essential sectors such as medical, water treatment plants, and others are operating normally following the COVID-19 protocols. As a result, the production of melt spun fibers is increasing because of its use in several surgical applications. Therefore, despite the pandemic, the market is likely to grow.
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By type, the market is segmented into staple melt-spun fibers and filament melt-spun fibers. Based on applications, the market is classified into automobile, textiles, pharmaceuticals, and others. Geographically, it is clubbed into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.
Rapid Growing Textile Industry to Propagate Market Growth in Asia Pacific
Asia Pacific is projected to dominate the melt spun fibers market share due to the rapidly expanding textile industry in India and China. In addition, economic development and rapidly increasing population are expected to propel market growth.
In Europe, the remarkably expanding healthcare sector is expected to spike the demand for melt spun fibers. Thus, this factor is likely to boost the market growth.
In North America, the advancement in production technologies is responsible for market growth.
Prominent Companies to Launch Novel Products to Enhance Market Growth
The prominent companies operating in the market launch novel products to enhance their market growth. For example, BASF launched its melt-processable PAN precursor aimed at low-cost and high-cost carbon fibers in June 2016. This launch can enable them to enhance their market position. The companies utilize advanced production techniques to enhance their efficiency and boost product quality. This strategy can enhance the business of the companies, which, in turn, can enhance their annual revenue.
List of Key Players Profiled in the Melt Spun Fibers Market Report
- Baoding Swan Fiber
- Jiangsu South Yellow Sea Industrial Co.
- GE plastics
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