Artifical Yarns Market Forecasts to 2030 - Global Analysis By Type (Bright Yarn and Semi-Gloss Yarn), Material, Application and By Geography

According to Stratistics MRC, the Global Artifical Yarns Market is accounted for $14.4 billion in 2023 and is expected to reach $23.2 billion by 2030 growing at a CAGR of 7.1% during the forecast period. Artificial yarns, sometimes called synthetic or man-made yarns, are fibers that are not sourced from natural sources such as plants or animals, but rather are produced chemically. Numerous advantages come with these synthetic yarns, such as their affordability, adaptability, and durability. They are employed in a wide range of fields and products, including as industrial materials, outdoor gear, textiles, and fashion. One of the most popular synthetic fibers is polyester. It is renowned for being colorfast, resilient to creases, and long-lasting. Polyester yarn is frequently utilized in many different products, such as apparel, household textiles, and industrial materials.

Market Dynamics:

Driver:

Growing fashion and apparel industry

With a sizeable share of the market, the fashion and clothing sector is one of the main users of artificial yarns. Growth in the business is strongly correlated with the market for synthetic fibers, which include spandex, nylon, polyester, and others. Sportswear, activewear, and apparel with an emphasis on performance have become increasingly popular. For these markets, the fashion industry uses synthetic yarns that are engineered to have properties like stretch, UV protection, moisture-wicking, and durability. Trends in fashion are ever-changing. Yarn creation becomes innovative as a result of the necessity to be up to date with consumer demands.

Restraint:

Recycling and circular economy

It can be difficult and expensive to put in place efficient recycling and circular economy systems for synthetic fibers. Infrastructure for collecting, sorting, cleaning, and reprocessing has to be heavily invested in, which might put a pressure on government and industry budgets. The grade of recycled synthetic fibers could differ from that of virgin materials. This can have an impact on the performance and consistency of synthetic yarns derived from recycled materials, making it more difficult for producers to guarantee the quality of their output.

Opportunity:

Sustainability and eco-friendly artificial yarns

Eco-friendliness and sustainability have propelled the expansion of synthetic yarns derived from recycled materials, including recycled polyester (rPET) yarns. As a result, the market's options have grown, drawing in customers who care about the environment. Nowadays, a lot of customers are increasingly aware of how their purchases affect the environment. They actively look for goods manufactured from eco-friendly yarns and other sustainable resources. As a result, a new market of ecologically conscious customers has emerged. The need for sustainability has spurred creativity in the creation of synthetic yarns that are environmentally beneficial thus manufacturers are making technological and scientific investments to produce yarns that have a smaller environmental effect, including synthetic fibers derived from biotechnology.

Threat:

High competition

Prices wars between suppliers and manufacturers can result from fierce rivalry. Companies may cut prices in order to stay competitive, which might diminish profit margins and make it more difficult for them to fund R&D or sustainability projects. Strong rivalry may cause overproduction, which may then result in waste and extra inventory. In addition to being inefficient, overproduction can have negative financial and environmental effects. Competition can cause abrupt shifts in the market dynamics that disrupt supply chains and affect both producers and consumers by causing variations in the availability of artificial yarns.

COVID-19 Impact

Artificial yarn manufacturing and distribution were impacted by the pandemic's disruption of global supply systems. The availability of raw supplies, transportation, and manufacturing processes were hampered by lockdowns, travel restrictions, and industrial closures. The market for textiles and clothing was affected by retail shop closures, lower consumer spending, and a change in consumer preferences, which resulted in a fluctuating demand for artificial yarns. The decline in demand resulted in temporary closures, curtailed operations, or worker layoffs at several textile and garment manufacturing sites. The creation of synthetic yarns was impacted by this.

The bright yarn segment is expected to be the largest during the forecast period

The bright yarn segment is estimated to have a lucrative growth, because yarn with a glossy or lustrous aspect is referred to as "bright yarn". When synthetic or artificial yarns are produced, certain finishes or additives are frequently used to give them this gloss. Vibrant yarns may provide fabrics and clothing a sense of style and aesthetic appeal. Because bright yarns capture and reflect light, they are highly sought after for evening attire, special events, and ornamental goods. The amount of shine that is wanted, the final product's look, and the intended usage all influence the type of bright yarn that is chosen thus all the above factors enhance the growth of the market.

The polyester segment is expected to have the highest CAGR during the forecast period

The polyester segment is anticipated to witness the highest CAGR growth during the forecast period, as it is one of the most popular synthetic fibers on the market for artificial yarns is polyester. It is highly valued because to its affordability, robustness, and adaptability. Polyester yarns have extensive uses in anything from industrial materials to apparel and textiles. Polyester's superior qualities-such as strength, ease of maintenance, and resistance to shrinking and wrinkles have made it a popular choice in the artificial yarn industry. Additionally, it gives producers the freedom to create a broad variety of yarn types, from shining to matte, based on the application and desired finish.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the regions prominent textile manufacturer and exporter, and synthetic yarns are important to this sector of the economy. In this region, polyester yarn holds a leading position as a synthetic fibre. It is the most sought-after artificial yarn in the area due to its widespread application in the textile and clothing industries. Moreover technical textiles, which use synthetic yarns for specific applications including geotextiles, medical textiles, and automotive fabrics, are becoming more and more in demand in the Asia Pacific market.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to the European markets strong emphasis on innovation and technology, which has led to improvements in fiber qualities, finishes that satisfy certain sustainability and performance requirements, and developments in artificial yarn technology. Additionally, artificial yarns are used in the European automobile industry for interior components including carpets, headliners, and seat coverings since they don't fade or wear easily. The fashion and textile industries in Europe are highly developed and serve specialized markets, creating a need for specialized artificial yarns with distinctive qualities.

Key players in the market

Some of the key players profiled in the Artifical Yarns Market include: Jiangsu Zhongxin Resources Group, Shandong Shengrui Group, Hanil Synthetic Fiber, Aditya Birla Yarn, Hengfeng Group, Indorama, Zhangjiagang Huaying International, Sharman Woollen Mills, Chenab Textile Mills, Sutlej Textiles and Industries, Celanese Corporation, Asahi Kasei Corporation, Vardhman Textile Limited, Grasim Industries Limited, Thairayon, Arvind Advanced Materials and Bonar

Key Developments:

In September 2023, Celanese Corporation a global chemical and specialty materials company, and Mitsui & Co., Ltd. announced the signing of a definitive agreement to form a Food Ingredients joint venture under the name Nutrinova.

In June 2023, Birla Cellulose, the pulp and fibre business of the Aditya Birla Group and a leading sustainability-focused Man-Made Cellulosic Fibres (MMCF) producer, has announced a strategic partnership with Usha Yarn Ltd., a leading company in manufacturing and supply of sustainable recycled yarn.

Types Covered:

• Bright Yarn
• Semi-Gloss Yarn

Materials Covered:

• Nylon
• Polyester
• Acrylic
• Viscose
• Other Materials

Applications Covered:

• Home Textiles Industry
• Garment Industry
• Apparel
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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