July 03, 2023 06:13 ET | Source: Research and Markets Research and Markets
Dublin, July 03, 2023 (GLOBE NEWSWIRE) -- The "Global 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) - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering. Taffeta Fabric Manufacturers In China
The textile yarn market is projected to grow from USD 14.4 Billion in 2023 to USD 18.5 Billion by 2028, at a CAGR of 5.1%
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.
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.
Company Profiles (Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View)
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