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"Textile yarn market projected to grow at a CAGR of 4.2%”
The textile yarn market, estimated at USD 10.27 billion in 2015, is projected to grow at a CAGR of 4.2% to reach USD 12.64 billion by 2020. The market is driven by factors such as demand for high value fabrics, consumer consciousness, and innovations leading to novel varieties. The high growth potential in emerging markets and untapped regions provide new growth opportunities for market players.
Among the sources of textile yarn?which include animal, plant, and chemical?chemical source yarn accounted for the largest market share, followed by plant. The chemical source segment covers polyester, nylon, viscose, and acrylic textile yarn and holds the largest market share in the global textile yarn market. The other sources segment is projected to grow at the highest CAGR due to the demand for blended yarn.
“Polyester leads the market with the largest share”
On the basis of type, the textile yarn market is led by the polyester segment, followed by cotton. Viscose is the fastest growing yarn across the globe and has found its application in apparel industry in several places as a substitute for polyester. Silk is the fastest-growing natural yarn segment of textile yarn market, particularly in developing Asian economies due to the extensive fabric production in these countries.
“China: The future of the textile yarn industry”
China is focusing on increased usage of advanced technologies and newer products for textile yarn. Also the awareness among the consumers is increasing in the country; therefore the demand for water, stain, and fire-resistant products requires specialized product development. With greater applicability of textile yarn and focus on achieving greater profits, several textile manufacturers are willing to spend on innovative blended textile yarn varieties that combine properties of natural and artificial yarn.
Turkey was the largest country-level market for textile yarn in Europe, and is projected to grow at the highest CAGR, in terms of volume.
Break-up of Primaries:
- By Company Type: Tier 1 – 50 %, Tier 2 – 30%, and Tier 3 – 20%
- By Designation: C level – 28%, Director level – 22%, Others – 50%
- By Region: North America – 40%, Europe – 20%, Asia-Pacific – 30%, RoW – 10%
Reasons To Buy this report:
- To get a comprehensive overview of the global textile yarn market
- To gain wide ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights about the major countries/regions in which the textile yarn market is flourishing