Dublin, July 03, 2023 (GLOBE NEWSWIRE) -- The "Global Textile Yarn Market by Source (Chemical, Plant, Animal), Type (Artificial, Natural), Application (Apparel, Home Textile, Industrial), and Region (North America, Europe, Asia Pacific, Rest of the World) - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The textile yarn market is projected to grow from USD 14.4 Billion in 2023 to USD 18.5 Billion by 2028, at a CAGR of 5.1%
The increasing global population, coupled with urbanization trends, has a direct impact on the textile yarn market. As more people move to urban areas, the demand for textiles and textile products rises, creating a higher demand for textile yarns.
The cotton yarn segment in plant yarn type is expected to account for the largest share in 2023.
Based on plant sources, the cotton segment is projected to lead the textile yarn market during the forecast period. Cotton yarn holds a significant position in the textile industry and has experienced substantial demand, growth, and dominance over the years.
Cotton yarn is particularly dominant in the clothing industry due to its favorable properties for making comfortable and breathable garments. It is the preferred choice for manufacturing a wide range of clothing items, including t-shirts, jeans, dresses, shirts, and innerwear. The demand for cotton yarn in the clothing sector remains consistently high.
Home textile is one of the segments that is projected to grow in the application segment during the forecast period.
Based on the application segment, the home textile segment is projected to grow during the forecast period. Home textiles encompass a wide range of textile products used in residential settings, including bedding, curtains, upholstery fabrics, towels, rugs, and more. Home textiles play a vital role in enhancing the aesthetic appeal and functionality of homes.
They are used for various purposes, such as providing comfort, adding decorative elements, and improving the overall ambiance of living spaces. Textile yarns are essential components in the production of home textile products, as they form the foundation for weaving or knitting fabrics used in these applications.
China is expected to account for the largest market share in Asia-Pacific in 2023.
China possesses a significant manufacturing capacity for textile yarn production. The country has a well-established and extensive textile industry, with numerous spinning mills and yarn manufacturers. Its large-scale production capabilities allow China to meet both domestic and international demand for textile yarns.
China's textile industry benefits from cost-effective production. The country has access to abundant raw materials, such as cotton and synthetic fibers, at competitive prices. Additionally, China has established a strong infrastructure for textile manufacturing, including well-developed supply chains and efficient production processes.
These factors enable Chinese manufacturers to offer competitive pricing for textile yarns.
Competitivelandscape
Prominent companies include Celanese Corporation (US), Asahi Kasei Corporation (Japan). TORAY INDUSTRIES, INC (Japan), Indorama Ventures Public Company (Thailand), KURARAY CO., LTD. (Japan) among others.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 347 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $14.4 Billion |
| Forecasted Market Value (USD) by 2028 | $18.5 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
Premium Insights
- Growing Population and Rising Demand for Apparel to Drive Growth of the Textile Yarn Market
- Chemical Segment and China to Account for Largest Market Shares in Asia-Pacific, 2022
- Turkey and India to Register at Highest CAGRs During Forecast Period
- Asia-Pacific to Dominate Textile Yarn Market During Forecast Period
- Artificial Segment to Account for Largest Market Size During Forecast Period
- Apparel Segment to Account for Largest Market Size During Forecast Period
Market Overview
Macroeconomic Indicators
- Rising Demand for Sustainable and Eco-Friendly Yarns
- Increasing Industrial Applications
Drivers
- Rising Demand for Textile Yarns in Apparel and Home Textile Sectors
- Innovations in Production Process and End-use Industries
Restraints
- Stringent Rules and Regulations
- Volatility in Raw Material Prices and Their Availability
Opportunities
- Growing Demand for Organic Yarns
- Development of New Yarn Varieties and Blends
Challenges
- High Inventory Holding Costs
- Unfair Competition Between Textile Yarn Producers in Developed and Developing Economies
- Increased Competition from Lower-Cost Suppliers Due to Trans-Pacific Partnership Hindering Growth
Regulatory Framework
US
- Declaration of Misbranding and False Advertising Unlawful
- Misbranded and Falsely Advertised Textile Fiber Products
- Removal of Stamp, Tag, Label, or Other Identification
Canada
- Canada Border Services Agency
Europe
- Regulation on Consumer Products in EU by Reach
- Regulatory Framework by EU$
India
- Raw Material Supply Scheme (Rmss) by Ministry of Textiles
Case Studies
- Utilization of Waste Heat from Boilers in Dyeing Units as Energy Source for Wastewater Recycling in Tirpur
Company Profiles (Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View)
- Celanese Corporation
- Asahi Kasei Corporation
- Toray Industries, Inc.
- Thairayon.Com
- Formosa Taffeta Co. Ltd.
- Kuraray Co. Ltd.
- Parkdale.
- Vardhman Textiles Limited
- Huvis
- Hengli Group Co. Ltd.
- Raymond
- Weiqiao Textile Company Limited
- Kipas Holding.
- Arvind Advanced Materials
- Masood Textile Mills Ltd.
- Indorama Ventures Public Company Limited
- Grasim Industries Limited
- Bonar Yarns
- Canan Textile Design by Medyamim
- Birko
For more information about this report visit https://www.researchandmarkets.com/r/vtxfoy
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