Rapid growth in urbanisation and increasing requirement of industries are the major factors driving the global yarn market growth. The shift in consumer perception of affordable and comfortable clothing increases the demand for high-value fabrics such as viscose, silk, and hemp. Blended varieties of fibres are also growing exponentially due to significant features of artificial and natural yarn thus opening up new markets and growth opportunities in the coming years.
Instability in production of plant and animal source yarn and stringent regulation on trade of textile yarn products are restraining factors in the international textile yarn market. The international textile yarn market classification is based on sources such as chemical, animal, plant or others. Depending on use, the market is split up into home textile, apparel and industrial. Based on artificial subtypes, the market is separated into categories such as viscose, polyester, acrylic, and nylon. The type segment is bifurcated into artificial and natural type. Further down the line, the natural subtype segment is sub-divided into flax, wool, ramie, cotton, hemp, jute, and silk. Diversification of the global market can be categorised into regions such as Asia Pacific, North America, Europe and the rest of the world.
Asia-Pacific is the leading region in the global textile yarn market, followed by North America. Polyester and cotton are widely used textile yarn products in the region. Changing consumption pattern, increasing population, disposable incomes, the increasing demand for clothing along with home furnishing products in Asia-Pacific region are major growth factors.
The North American market is projected to grow at a quick pace following increasing investment from the multinational manufacturers in the US and Canada thus spiralling up market growth. Markets in the Latin America and the Middle East are expanding following the developing apparel industry and high levels of product development.
Major market players in the international textile yarn market are Parkdale Mills Incorporated, the Hengli Group, Kairuide Holding., Vardhman Textiles and Birleþik Koyunlulular Mensucat. The other influencing market players in the global market include Weiqiao Textile Company, E SAN. A.Þ., Low & Bonar, Raymond, Huvis Corporation, and Grasim Industries.