Global Bicomponent Fiber Market Size Grows Steadily at a CAGR of 5.4%

Introduction

Bicomponent fibers are a form of synthetic fiber composed of two separate polymers or components, each having its own set of properties. These fibers are widely used in the textile sector, notably in the production of nonwoven fabrics, hygiene products, and geotextiles, among other applications. The market has seen a considerable increase in demand for bicomponent fibers, owing primarily to their adaptability, high strength, and ability to meet specified performance standards across a wide range of applications.

Market Dynamics

Increasing Demand for Nonwoven Fabrics Drives the Global Market

The global bicomponent fiber market is expanding rapidly due to rising demand for nonwoven fabrics. Nonwoven fabrics, made by bonding or interlocking fibers rather than traditional weaving or knitting procedures, offer various uses in different sectors. These goods are well-known for their great comfort, delicate texture, and exceptional liquid absorption qualities. Bicomponent fibers are currently in high demand because of their unique ability to provide customizable features such as moisture control and odor avoidance.

Furthermore, demand for bicomponent fibers is expanding significantly as the global population grows and living conditions improve. A significant element driving this increase is the increasing demand for nonwoven materials in disposable hygiene goods such as sanitary napkins, adult incontinence products, and diapers.

Growing Demand for Sustainable Fibers Creates Tremendous Opportunities

The primary growth potential in the global bicomponent fiber market is strongly related to the growing demand for sustainable fibers, which aligns with the global trend toward environmentally responsible practices. In view of the rising emphasis on sustainability from both consumers and industries, the usage of bicomponent fibers appears to be a feasible approach to addressing these issues. The use of recycled resources in the production of bicomponent fibers is an important feature of this possibility. Furthermore, producers can recycle post-consumer or post-industrial waste, notably plastics, by converting them into bicomponent fibers. This method reduces the need for virgin materials and the load on landfills.

Regional Analysis

Asia-Pacific is the most significant global bicomponent fiber market shareholder and is anticipated to exhibit a CAGR of 5.3% during the forecast period. The Asia-Pacific region is characterized by a well-established market for bicomponent fibers, primarily influenced by factors such as population expansion, urban development, and rising disposable income levels. China and India possess thriving industrial industries. The demand for bicomponent fibers is primarily driven by the thriving hygiene product industry and the expansion observed in the automotive and construction sectors within the region. Furthermore, the capacity for customization exhibited by bicomponent fibers aligns with the varied requirements of Asian markets. The region faces challenges such as the sensitivity of market prices and competition from domestic manufacturers.

Key Highlights

• The global bicomponent fiber market size was valued at USD 2.2 billion in 2022. It is projected to reach USD 3.8 billion by 2031, registering a CAGR of 5.4% during the forecast period (2023-2031).
• Based on polymer type, the global bicomponent fiber market is segmented into PE/PP, PE/PET, and Co-PET/PET.
• Based on material type, the global bicomponent fiber market is segmented into core-sheath bicomponent fiber and side-by-side bicomponent fiber. The core-sheath bicomponent fiber segment is the highest contributor to the market and is expected to grow significantly over the forecast period.
• Based on applications, the global bicomponent fiber market is segmented into nonwoven fabrics, textiles, medical textiles, and others. The nonwoven fabric segment dominates the global market and is expected to grow significantly over the forecast period.
• Asia-Pacific is the most significant global bicomponent fiber market shareholder and is anticipated to exhibit a CAGR of 5.3% during the forecast period.

Competitive Players

Competitive Players

The major players in the market are Indorama Ventures Public Company Limited, FiberVisions Corporation, Kimberly-Clark Corporation, Mitsui Chemicals, Inc., Fitesa, Toray Industries, Inc., Huvis Corporation, Avgol Nonwovens, Suominen Corporation, and Kolon Industries, Inc.

Recent Developments

Market News

• In August 2023, Indorama Ventures and AMB, a leading European producer of rigid and flexible films, announced a partnership to increase the circularity of PET food tray packaging.
• In April 2023, Indorama Ventures’ FiberVisions and Avgol partnered with Polymateria Global to bring biotransformation technology to polyolefin fibers and nonwoven fabrics. This technology enables the fibers and fabrics to biodegrade in the natural environment without leaving any microplastics behind.

Segmentation

Global Bicomponent Fiber Market: Segmentation

By Polymer Type

• PE/PP
• PE/PET
• Co-PET/PET

By Material Type 

• Core-Sheath Bicomponent Fiber
• Side-by-side bicomponent fiber

By Applications

• Nonwoven Fabrics
• Textiles
• Medical Textiles
• Others

By Regions

• North America
• Asia-Pacific
• Europe
• The Middle East and Africa
• Latin America