Newark, Dec. 01, 2022 (GLOBE NEWSWIRE) — The Yarn market was estimated at around USD 34.55 billion in 2021, growing at a CAGR of nearly 5.9% during 2022-2030. The market is projected to reach approximately USD 57.8 billion by 2030.
A yarn is an assembly of fibers and/or filaments that have a significant length and a relatively tiny cross-section, with or without twist. Spinning is the process of taking fibers and twisting them into yarn. In order to prevent them from being readily pulled apart, this method maintains fibers together, whether they are continuous filaments or staple fibers. The numerous synthetic or natural fibers used to make the yarn are created. Natural fibers are very airy and slightly stretchy. The most common plant fiber is cotton, and synthetic fibers come in three different shapes: filament, staple, and tow. The important variables that fuel market growth are the rapid urbanization of the population and the escalating demands of the businesses.
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The population of the world is rapidly urbanizing, and the needs of many industries are growing, which are the main forces driving market expansion. The shift in consumer preference toward low-cost and cozy clothing raises the need for high-end fabrics like silk, viscose, and hemp. Due to the valuable properties of both natural and synthetic yarn, blended forms of fiber are also expanding rapidly on the market, boosting the growth of the global industry. Over the future years, it is anticipated that the sector would significantly expand as more people become aware of the advantages of yarn. The increase in income across the major geographic areas has also had favorable market impacts. A growing middle-class population with greater income levels, fast urbanization, and other factors are also anticipated to support market expansion. The demand for yarn will be boosted by rising fashion trends, greater purchasing power in developing countries, and rising demand for silk in the textile industry. China and India, two developing nations that are both increasing by double digits, will be the primary growth engines of the global market. In the coming days, China will overtake India as the world’s second-largest market for clothing. Because it is totally constructed of natural resources, silk is a truly eco-friendly product. It is also a resilient, skin-friendly, and healthful all-weather fabric. Because of the growing textile industry in developing nations, which is increasing people’s purchasing power, and the material’s user-friendliness, it is predicted that silk consumption would rise more swiftly than other material kinds.
The market for yarn market is segmented into the source, material, and application. According to the source, the animal segment is expected to increase at the quickest rate. This can be attributed to its shiny, smooth appearance. Sheep, camel, yak, and musk ox are just a few of the various animal yarns available. This segment has the highest number of consumers depended hence; it is expected to increase during the forecast period.
Due to the rising demand for natural products and the product’s convenient carrying characteristics, the market for plants is also anticipated to grow throughout the forecast period. Cotton, jute, ramie, and other plant-based yarns are further broken down into categories.
Over the projected period, the synthetic fiber segment is expected to record the largest revenue by material. Numerous synthetic fibers provide user-friendly features including flexibility, waterproofing, and stain resistance. All fibers break down and deteriorate over time due to sunlight, moisture, and oils from human skin. Nylon is a polymer with extremely long, heavy molecules consisting of tiny, endlessly repeating atom segments that may be woven into strands to create fabrics or molded into any object. The production of nylon 6 fiber is expected to increase further and reach 114,000 tons, while the production of nylon 6 will reportedly remain stable at around 2,000 tons until 2020.
The apparel segment is anticipated to hold major share in the yarn market by application during the forecast period. A sizeable portion of the yarn market in 2021 belonged to the apparel industry. Polyester is a common type of yarn used in the apparel industry. This is mostly attributable to the fiber’s remarkable qualities, which include rapid drying, great durability, excellent elasticity, high wrinkle resistance, lightweight, and high shape retention. When garments and accessories need to be wrinkle- and fade-resistant, these traits are useful in the fashion industry.
Soft furnishings are materials that are used in homes and are often referred to as home textile yarns. They include things that are commonly categorized as linens, like bath and dish towels, tablecloths, shower curtains, and bathroom sets, among other things. In addition to being utilized in offices, showrooms, retail stores, restaurants, recreation centers, and numerous other commercial places, the majority of these things are also used in hotels and motels. Yarn can be used in industrial settings to make protective garments. They frequently have to survive harsh environments. They are utilized to create protective apparel for the military, for deep space exploration, and even for space travel.
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The biggest market share of the total market was held by the Asia-Pacific in the yarn market. The market in the APAC region will increase as a result of shifting consumption patterns, the fastest-growing market with investments from numerous multinational firms, and continuing initiatives. The main drivers of the growth of the yarn business are anticipated to be the accessibility of inexpensive labor in the fabrication sectors in China, India, and South Korea. In the Asia-Pacific region, yarn products like cotton and polyester are among the most popular. Increased disposable income, a significant shift toward branded clothing and a change in customer behavior are some other key reasons propelling the yarn market in this region. Global sourcing and intense price competition have caused a significant upheaval in the yarn sector.
The yarn market will likely expand significantly in North America. The expansion of technology in the field of precision tools and complex production methods can be attributed for the market expansion in the area. Leading yarn manufacturing businesses in the area are anticipated to benefit the region’s yarn market.
|Report Coverage||Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, and Latin America|
|Market Size(unit)||USD Billion|
|Yarn Market CAGR||5.9%|
|Segments Covered||By Source
List of the prominent players in the Global Yarn market:
• Huntingdon Yarn Mill, Inc
• Parkdale Mills Inc
• Vardhman Textiles Ltd.
• Weiqiao Textile Company Ltd
• Huvis Corporation
• Stoll America Knitting Machinery
• Family Yarns Inc
• Grasim Industries Ltd
• Texpro SpA
• Huntingdon Yarn Mill
The global Yarn market is segmented as follows:
• Natural Fiber
• Synthetic Fiber
• Home Textile
• North America
o The U.S.
o The UK
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Rest of Latin America
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About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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