Textile Yarn Market is estimated to be valued at USD 14.4 billion in 2023 and is projected to grow at a CAGR of 5.1% from 2023 to 2028, reaching USD 18.5 billion. The expanding middle class in emerging economies is a key factor fueling the demand for textile yarn, as affordable and fashionable clothing becomes increasingly sought after, according to a report by Markets and Markets.
Technological advancements have also played a crucial role, enabling the development of specialized yarns with enhanced properties such as moisture-wicking, antimicrobial, and eco-friendly characteristics. These innovations have driven the demand for technical textiles across various sectors including apparel, medical, sports, automotive, and aerospace.
The plant segment is expected to exhibit the highest growth during the forecast period, driven by the rising demand for sustainable and eco-friendly products. Plant-based yarns like cotton, hemp, linen, and bamboo, derived from natural sources, are preferred by environmentally conscious consumers due to their biodegradability, renewability, and lower carbon footprint.
Within the artificial yarn category, the polyester segment is anticipated to dominate the market in 2023. Polyester yarn's exceptional durability, strength, and resistance to abrasion, wrinkles, and stretching make it suitable for diverse textile applications. Its cost-effectiveness further contributes to its popularity, particularly in mass production and budget-conscious markets.
