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

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

The textile yarn market is projected to grow from USD 14.4.5 Billion in 2023 to USD 18.598.5 Billion by 2028, at a CAGR of 5.1% during the forecast period. 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.

The break-up of the profile of primary participants in the textile yarn market:

By Company Type: Tier 1 – 60%, Tier 2 – 25%, and Tier 3 – 15%

By Designation: C Level – 35%, Director Level – 45%, Others-20%

By Region: Asia Pacific – 73%, Europe – 10%, North America – 7%, and Rest of the World – 10%

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.

Research Coverage:

This research report categorizes the textile yarn market by Source (Chemical, Plant, Animal, Other Sources), Type (Artificial, Natural and Other types), Application (Apparel, Home Textile, Industrial, Other Applications), and Region (North America, Europe, Asia Pacific, and Rest of the World). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the textile yarn market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; contracts, partnerships, agreements, new product & service launches, mergers and acquisitions, and recent developments associated with the textile yarn market. Competitive analysis of upcoming startups in the textile yarn market ecosystem is covered in this report.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall textile yarn market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Improved demand for textile yarn across apparel, home textile and industrial purposes, Innovations in production process and end use industries), restraints (Stringent rules and regulations, Volatility in raw materials price and their availability), opportunity (Growing demand for organic-based yarns, Development of new varieties and blends), and challenges (High inventory holding costs, Direct government assistance to raw material producers in developed countries, Maintaining quality through scattered sourcing channels and Trans-Pacific Partnership hindering growth) influencing the growth of the textile yarn market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the textile yarn market.

Market Development: Comprehensive information about lucrative markets – the report analyses the textile yarn market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the textile yarn market.

Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Celanese Corporation (US), Asahi Kasei Corporation. (Japan). TORAY INDUSTRIES, INC. (Japan), Indorama Ventures Public Company (Thailand), KURARAY CO., LTD. (Japan) among others in the textile yarn market strategies. The report also helps stakeholders understand the textile yarn market and provides them with information on key market drivers, restraints, challenges, and opportunities.