Apr 1, 2022   SOURCE: BusinessWire

$74.7 Billion Worldwide Yarn, Fiber and Thread Industry to 2030 - Identify Growth Segments for Investment - ResearchAndMarkets.com

The "Yarn, Fiber And Thread Global Market Opportunities And Strategies To 2030, By Type, Covering" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists; marketers and senior management with the critical information they need to assess the global yarn, fiber and thread market as it emerges from the COVID 19 shut down.

The global yarn, fiber and thread market reached a value of nearly $74,728.9 million in 2020, having decreased at a compound annual growth rate (CAGR) of -3.0% since 2015. The market is expected to grow from $74,728.9 billion in 2020 to $142,714.8 million in 2025 at a rate of 13.8%. The market is expected to grow at a CAGR of 6.0% from 2025 and reach $191,114.7 million in 2030.

Companies Mentioned

  • Sinopec Group
  • Toray Industries Inc.
  • Reliance Industries
  • Alpek
  • Far Eastern New Century
  • Lenzing AG
  • Indorama Corporation
  • Teijin Limited
  • Eastman Chemical Company
  • DuPont

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Growth factors in the historic period include emerging market growth, urbanization, increased demand for man-made fibers and government initiatives for the textile industry. Factors that negatively affected growth in the historic period were increasing costs, oil price volatility, counterfeit products and health hazards.

Going forward, global population growth and urbanization, increasing e-commerce, increasing demand for sportwear, increasing penetration of organized retail in developing economies and increasing penetration of social media are expected to drive the market. Reduction in free trade, intense competition, COVID-19 implications and shortage of cotton are major factors that could hinder the growth of the yarn, fiber and thread market in the future.

The yarn, fiber and thread market is segmented by type into regular yarn, fiber and thread and special yarn, fiber and thread. The regular yarn, fiber and thread market was the largest segment of the yarn, fiber and thread market segmented by type, accounting for 92.3% of the total in 2020. Going forward, the special yarn, fiber and thread market is expected to be the fastest growing segment in the yarn, fiber and thread market segmented by type, at a CAGR of 14.7% during 2020-2025.

Asia Pacific was the largest region in the yarn, fiber and thread market, accounting for 71.5% of the total in 2020. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the yarn, fiber and thread market will be South America, and, Middle East where growth will be at CAGRs of 20.7% and 18.4% respectively. These will be followed by Africa, and Asia-Pacific, where the markets are expected to grow at CAGRs of 14.2 and 13.5% respectively.

The yarn, fiber and thread market is highly fragmented, with a large number of small players dominating the market. The top ten competitors in the market made up to 39.29% of the total market in 2020.The market fragmentation can be attributed to the local players that have large number of domestic manufacturing facilities and have presence across the supply chain. Going forward the market is expected to experience further expansion with large companies trying to expand their presence in other low-cost economies to take advantage of low-cost labor and cheaper raw material prices.

The top opportunities in the yarn, fiber and thread market segmented by type will arise in the regular yarn, fiber and thread segment, which will gain $62,345.9 million of global annual sales by 2025. The yarn, fiber and thread market size will gain the most in the India at $27,273.9 million.

Market-trend-based strategies for the yarn, fiber and thread market include developing fibers and yarns derived from biodegradable and sustainable materials, implementing digital platforms in the operational chain to reduce supply chain errors, invest in sustainable manufacturing technologies, adopt IOT technology to enhance the manufacturing process and invest in new projects through R&D and partnerships activities.

Player-adopted strategies in the yarn, fiber and thread market include strengthening the product portfolio by new product launch, expanding manufacturing capabilities, expanding fiber business by opening new manufacturing facility, strengthening polyester business by expanding its production facility and strengthening synthetic fiber business by investment in new plants.

For more information about this report visit https://www.researchandmarkets.com/r/dyvng