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) - Global Forecast to 2028

Northbrook, IL 60062 -- (SBWire) -- 12/21/2023 --The Textile Yarn Market, currently valued at USD 14.4 billion in 2023, is poised for expansion, with a projected reach of USD 18.5 billion by 2028. This growth, marked by a steady Compound Annual Growth Rate (CAGR) of 5.1%, is fueled by factors such as the expanding middle class in emerging economies and technological advancements in yarn development.

Download PDF Brochure

Middle Class Expansion Driving Demand

A key contributor to the rising demand for textile yarn is the expanding middle class in emerging economies. The ascent of individuals into the middle-income bracket has generated a heightened demand for affordable and fashionable clothing, consequently propelling the consumption of textile yarns.

Technological Advancements and Specialized Yarns

Technological progress has given rise to specialized yarns with enhanced properties, including moisture-wicking, antimicrobial, and eco-friendly characteristics. These innovations have triggered a surge in demand for technical textiles across diverse sectors such as apparel, medical, sports, automotive, and aerospace.

Plant-Based Yarns on the Rise

The plant segment in the textile yarn market is anticipated to experience the highest Compound Annual Growth Rate (CAGR) during the forecast period. This growth is driven by an increasing demand for sustainable and eco-friendly products. Plant-based yarns, including cotton, linen, and bamboo, align with the rising environmental consciousness of consumers, being biodegradable, renewable, and boasting a lower carbon footprint.

Dominance of Polyester in Artificial Yarn Segment

Within the artificial yarn category, polyester is expected to dominate the market, holding the largest share in 2023. The widespread adoption of polyester yarn is attributed to its exceptional durability, strength, resistance to abrasion, wrinkles, and stretching. Moreover, its cost-effectiveness makes polyester a preferred choice for manufacturers and consumers, particularly in mass production and budget-conscious markets.

Turkey's Leading Role

Turkey is anticipated to account for the largest market share in 2023. Renowned for its expertise in textile manufacturing, Turkey boasts a highly skilled workforce, advanced production technologies, and modern infrastructure. The country's competitive advantage in terms of cost-effectiveness further propels its position, attracting customers and driving the growth of the textile yarn market in Europe.

Make an Inquiry

Key Players Shaping the Market

Major players contributing to the textile yarn market include Celanese Corporation (US), Asahi Kasei Corporation (Japan), TORAY INDUSTRIES, INC. (Japan), Indorama Ventures Public Company (Thailand), KURARAY CO., LTD. (Japan), and others. These industry leaders play a crucial role in shaping the landscape of the global textile yarn market.

Conclusion: Unveiling Opportunities in a Dynamic Market

The textile yarn market, driven by factors ranging from changing consumer demographics to technological innovations, presents a dynamic landscape ripe with opportunities. As the industry continues to evolve, the interplay of market dynamics is expected to shape its trajectory in the years to come.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441