Currently estimated to be worth 52.5 million tonne, the global spun yarn market is projected to grow at 2 per cent CAGR to reach a revised size of 59.3 million tonne by 2026.
As per a Textile Intelligence report, Cotton, one of the segments analyzed in the report, is projected to record a 1.9 per centCAGR and reach 34.8 million tonne by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the polyester segment is readjusted to a revised 2.5 per cent CAGR for the next seven-year period. These are the findings of a new study released by StrategyR.
The spun yarn market in the US is estimated at 14.5 million tonne in the year 2021. World`s second largest economy China is forecast to reach a projected market size of 11.3 million tonne by the year 2026 trailing a CAGR of 3.8 per cent over the analysis period. Other noteworthy geographic markets such as Japan and Canada are forecast to grow at 0.3 per centand 1.4 per cent respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 0.8 per cent CAGR.