Yarn Market by Type and Geography - Forecast and Analysis 2022-2026

The yarn market is projected to grow by USD 42.18 billion with a CAGR of 5.77% during the forecast period 2021 to 2026.

This yarn market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the yarn market segmentation by type (natural and artificial) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The yarn market report also offers information on several market vendors, including Birko A.S, Compagnie de Saint Gobain, Grasim Industries Ltd., Hengli Group Co. Ltd., Huntingdon Yarn Mill, Huvis Corp., Indorama Ventures Public Co. Ltd., KARL MAYER STOLL TEXTILMASCHINENFABRIK GMBH, Low & Bonar, Parkdale Incorp., Texpro SPA, Vardhman Group, Varvaressos S. A. European Spinning Mills, and Weiqiao Textile Co. Ltd. among others.

What will the Yarn Market Size be During the Forecast Period?

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Yarn Market: Key Drivers, Trends, and Challenges

The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the yarn market.

Key Yarn Market Driver

Growing demand for textiles in developing economies is notably driving the yarn market growth. The demand for textiles in developing economies such as China, India, Brazil, Mexico, the Philippines, and Indonesia will increase considerably during the forecast period. Many original equipment manufacturers (OEMs) are shifting their manufacturing bases to these countries to leverage factors such as easy availability of land, cost-effective labor, easy access to raw materials, and lenient government regulations and policies. For instance, foreign direct investment in the textiles and apparel industry In India reached $3.9 billion at the end of 2021. India accounts for 5% of the global trade in textiles and apparel. Moreover, the growth of the automotive, construction, medical, and sports industries will spur the demand for textiles. For instance, In March 2021, the Indian government announced the setting up of the National Bank for Financing Infrastructure and Development (NaBFID), a $ 2.5 billion-worth development financial institution, to fund infrastructure projects in India. Such initiatives will drive the growth of the construction industry, which, in turn, will fuel the growth of the textile industry, including the yarn market. India, China, the US, Brazil, and Pakistan were the leading producers of cotton in 2020. Cotton is one of the primary textile materials used to manufacture shirts, socks, T-shirts, fishing nets, coffee filters, bookbinders, and archival paper. The increasing use of cotton in garments and other textile products will drive the growth of the yarn market in emerging economies during the forecast period.

Key Yarn Market Trend

Innovations in the textile industry are the primary trend driving the yarn market growth. Major players in the global yarn market are involved in product innovation to maintain their market positions. Innovations that lead to products with better efficiency and enhanced properties are a growing trend in the market. Thus, to maintain their competitive edge and market shares, vendors are strongly focusing on new technology and innovations. One such innovation and product launch include B.I.G yarns. In March 2022, a division of Beaulieu International Group NV (BIG) announced the development of non-woven and engineered fabric solutions using polyolefin and BICO fibers as key innovations to advance sustainable design, improve recyclability, reduce the carbon footprint in the industrial sector and hygiene applications. In another such innovation in March 2022, Toray Industries Inc. (Toray) announced the development of a low-friction, high-strength polytetrafluoroethylene (PTFE) fiber using Toyoflon. Therefore, such product developments and increasing innovations will enhance the growth of the textile industry, which, in turn, will drive the global yarn market during the forecast period.

Key Yarn Market Challenge

Health hazards in the textile industry are the major challenge impeding the yarn market growth. Dyeing agents are widely used in the textile industry for dyeing wool, cotton, silk, and other materials. But they have been marked as hazardous compounds by the Centers for Disease Control and Prevention (CDC). The CDC classifies benzene-based chemicals as toxic for people. Benzene-based chemicals include benzidine-, o-Toluidine, and o-Dianisidine dyes. These dyes have been categorized as carcinogenic (cancer-causing) chemicals among people and animals. The National Institute for Occupational Safety and Health (NIOSH) has also categorized them as dangerous. The Occupational Safety and Health Administration (OSHA) has specified the health hazards for workers who are involved in textile manufacturing, which include musculoskeletal disorders (MSD), hormonal deficiency, and skin irritation/allergies. MSD is the most common work-related health problem and includes disorders such as the gradual deterioration of the musculoskeletal system, lower back pain, or acute trauma from cuts or fractures. Thus, the increasing health hazards from dyeing agents will, therefore, negatively impact the growth of the global yarn market during the forecast period.

This yarn market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global yarn market as a part of the global textiles market within the global textiles, apparel, and luxury goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the yarn market during the forecast period.

Who are the Major Yarn Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Birko A.S
• Compagnie de Saint Gobain
• Grasim Industries Ltd.
• Hengli Group Co. Ltd.
• Huntingdon Yarn Mill
• Huvis Corp.
• Indorama Ventures Public Co. Ltd.
• KARL MAYER STOLL TEXTILMASCHINENFABRIK GMBH
• Low & Bonar
• Parkdale Incorp.
• Texpro SPA
• Vardhman Group
• Varvaressos S. A. European Spinning Mills
• Weiqiao Textile Co. Ltd.

 

This statistical study of the yarn market encompasses successful business strategies deployed by the key vendors. The yarn market is fragmented, and the vendors are deploying growth strategies such as providing differentiated products either based on quality or service to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The report on the yarn market contains comprehensive market knowledge and an in-depth vendor landscape add-on to an analysis of the key vendors.

Yarn Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the yarn market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also the optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Yarn Market?

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74% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for the yarn market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The growing population, particularly in China and India will facilitate the yarn market's growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

The global Call to Action under the "COVID-19: Action in the Global Garment Industry" initiative was a concerted effort by the entire textile industry to help textile and yarn factories and workers. During the pandemic, this initiative necessitated constant monitoring and follow-up for the recovery of the garment industry. For instance, in December 2021, Arvind Textile, a textile manufacturer headquartered in India, announced a decline in its revenues in 2021 owing to COVID-19-related market volatility. However, the market is expected to grow during 2022-2026, owing to the continued innovation across the textile industry in the region

What are the Revenue-generating Type Segments in the Yarn Market?

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The yarn market share growth in the natural segment will be significant during the forecast period. Yarn made from natural fibers is derived from plant and animal sources. Cotton, silk, linen, wool, hemp, and jute are the major types of natural fibers. These fibers are used extensively to produce garments, apparel, construction materials, medical dressings, and automotive interiors, among others. The demand from these end-user industries will facilitate segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the yarn market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Yarn Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 5.77%
Market growth 2022-2026	$42.18 billion
Market structure	Fragmented
YoY growth (%)	4.98
Regional analysis	APAC, North America, Europe, South America, and the Middle East and Africa
Performing market contribution	APAC at 74%
Key consumer countries	US, China, India, Pakistan, and Brazil
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Birko A.S, Compagnie de Saint Gobain, Grasim Industries Ltd., Hengli Group Co. Ltd., Huntingdon Yarn Mill, Huvis Corp., Indorama Ventures Public Co. Ltd., KARL MAYER STOLL TEXTILMASCHINENFABRIK GMBH, Low & Bonar, Parkdale Incorp., Texpro SPA, Vardhman Group, Varvaressos S. A. European Spinning Mills, and Weiqiao Textile Co. Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Yarn Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive yarn market growth during the next five years
• Precise estimation of the yarn market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the yarn industry across APAC, North America, Europe, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of yarn market vendors

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