PUBLISHER: The Business Research Company | PRODUCT CODE: 1429993
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429993
Yarn, fiber, and thread manufacturing involve the process of creating spun yarn from fibers for various applications such as sewing, crocheting, and embroidery.
The primary types of yarn, fiber, and thread manufacturing are regular and special varieties. Regular yarn and thread are predominantly used for sewing purposes. These products find applications in quilting, sewing, stitching, and embroidery, catering to end-users in sectors such as apparel, footwear and accessories, home interior, and others.
The yarn, fiber and thread market research report is one of a series of new reports from The Business Research Company that provides yarn, fiber and thread market statistics, including yarn, fiber and thread industry global market size, regional shares, competitors with a yarn, fiber and thread market share, detailed yarn, fiber and thread market segments, market trends and opportunities, and any further data you may need to thrive in the yarn, fiber and thread industry. This yarn, fiber and thread market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The yarn, fiber and thread market size has grown strongly in recent years. It will grow from $112.7 billion in 2023 to $120.84 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth observed in the historical period can be attributed to the expansion of emerging markets, urbanization, increased demand for man-made fibers, and government initiatives supporting the textile industry.
The yarn, fiber and thread market size is expected to see strong growth in the next few years. It will grow to $154.11 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. Forecasted growth is attributed to global population growth, urbanization, e-commerce expansion, increased sportswear demand, and the rise of organized retail and social media influence. Key trends include the development of sustainable materials, digital platforms for supply chain efficiency, investments in sustainable manufacturing and IoT technology, and increased R&D and partnerships for new projects.
The expansion of the yarn, fiber, and thread market is attributed to factors such as emerging market growth, increasing disposable income, and advancements in technology. Disposable income, representing the funds available to individuals or households after deducting income taxes, plays a crucial role in driving market growth. As an illustration, in 2021, China's Bureau of Statistics reported an increase in Disposable Personal Income from 43,834 CNY in 2020 to 47,412 CNY in 2021, indicating a rise in disposable income. This surge in disposable income is a key driver propelling the growth of the yarn, fiber, and thread market.
The rapid expansion of e-commerce is a significant catalyst supporting the growth of the yarn, fiber, and thread market. E-commerce, involving online transactions of money and data, has brought transformative benefits to the industry by altering business operations and customer interactions. As of September 2022, the International Trade Administration reported that consumer eCommerce constitutes 30% of the UK's overall retail industry, a notable increase from 20% in 2020, generating over $120 billion in annual sales. The growing prevalence of online purchases is evident, with 82% of people in the UK making at least one online purchase in 2021. This rapid growth in e-commerce is a pivotal factor bolstering the expansion of the yarn, fiber, and thread market.
Major players in the yarn, fiber, and thread market are strategically prioritizing the development of sustainable materials to produce yarns, fibers, and textiles. These companies are actively working towards improving their environmental impact and reducing production costs by adopting sustainable materials. For instance, in April 2022, Evrnu, a US-based textile manufacturer, introduced 100% NuCycl r-lyocell, a high-performance, recyclable lyocell material derived entirely from cotton textile waste. This innovative fiber, crafted from recycled cotton textile waste, aims to surpass virgin cellulosic and plastic-based materials in performance while contributing significantly to environmental impact reduction and maintaining recyclability. Evrnu has enhanced the conventional lyocell manufacturing process, typically reliant on virgin wood, by incorporating textile waste into the production cycle. This adjustment aligns with Evrnu's commitment to sustainable practices within the existing manufacturing framework.
Technological advancements represent a prominent trend gaining traction in the yarn, fiber, and thread market. Major companies are directing their efforts towards developing smart fibers with applications in health and performance tracking. As an illustration, in May 2021, Nextiles, a US-based smart textiles company, launched smart fabrics designed for sports performance tracking applications. Nextiles' fabrics enable comprehensive biomechanics and biometric sensing on a single platform through their patent-protected manufacturing process. Leveraging conventional sewing machines and widely available threads such as spandex or nylon, Nextiles incorporates semi-conductive threads to measure mechanical changes based on multiple data points. The company differentiates its suite of data analytics by providing Newtonian measurements through its fabrics, including force, bending, stretching, velocity, and pressure, catering to the needs of athletes and teams seeking accurate performance insights. This focus on technological innovation underscores major companies' commitment to advancing the capabilities and functionalities of yarns, fibers, and threads in the market.
In March 2023, Reliance Industries Ltd (RIL), an India-based multinational conglomerate, successfully acquired Sintex Industries for $42.8 million. This strategic acquisition incorporates the textile and yarn portfolio of Sintex Industries into RIL's diverse offerings. Sintex Industries is an India-based manufacturer specializing in yarn production.
Major companies operating in the yarn, fiber and thread market report are Sinopec Group, Toray Industries Inc., Reliance Industries, Alpek, Far Eastern New Century, Lenzing AG, Indorama Corporation, Teijin Limited, Eastman Chemical Company, DuPont, Weiqiao Textile Company Limited, Nisshinbo Textile Inc., Marubeni Corporation, Laxtons, Town End Alpacas, Ardalanish Mill, AMANN Group, Silkoplus German Embroidery Threads, Galleria Arben, Ametist, LOOMKNITS, STEKLONiT JSC, Texel Inc., INDUSTRIES 3R INC., Amtex (YARN) Manufacturing Inc., Fibrofill Inc., Wallace Workwear Inc., Lenrod Industries, Bermatex, Coats Bell, Saint Gobain Tape Solutions, Trelleborg Engineered Coated Fabrics, Albany International Corp., Unifi Inc., InPro Corporation, Dunmore Corp., Tex Tech Industries, Bally Ribbon Mills, Aurora Specialty Textiles Group Inc., Paramount Texteis, Fiacao Sao Bento S.A., Siltex Brasil Ltda, Textil Sao Joao, Grupo Argentino Del Color, Chenille Argentina SRL, Saudi Spinning & Textile Mill, Elasticos Yarns, The Yarn Room, Leena Egypt, AlSaraTex Co., Integrated Fibres Limited
Asia-Pacific was the largest region in the yarn, fibre, and thread market in 2023. The regions covered in the yarn, fiber and thread market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the yarn, fiber and thread market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The yarn, fibre, and thread market include revenues earned by entities by getting used in knitting, weaving, and the production of textiles. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Yarn, Fiber And Thread Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on yarn, fiber and thread market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for yarn, fiber and thread? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The yarn, fiber and thread market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.