Global Textile Yarn Market Set to Reach $21.2 Billion by 2030 with Eco-Friendly Yarns Gaining Traction

DUBLIN, Feb. 22, 2024 /PRNewswire/ -- The "Textile Yarn Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to  ResearchAndMarkets.com's offering.

The global textile yarn industry is projected to experience robust growth, climbing to an estimated value of $21.2 billion by the year 2030, driven by a compound annual growth rate of 5.5% during the forecast period from 2024. This notable upsurge is attributed to the escalating demands for personal attire and home textiles alongside a surge in the preference for sustainable and eco-friendly yarns.

Trends in the Textile Yarn Industry

The rise of artificial yarns is anticipated to spearhead the growth within the market, with a substantial shift of consumer preference towards environmentally responsible products. The home textiles segment is also projected to witness the highest growth in demand throughout the forecast period, reflecting the evolving interior design trends and increased consumer spending on home décor.

Regional Growth Dynamics

The Asia Pacific (APAC) region is poised to emerge as the frontrunner in the textile yarn market in the coming years. This is due to the growing industrialization, the increasing middle-class population, and the more significant fashion consumption in these regions.

Competitive Landscape

The competitive scenario in the global textile yarn market reveals companies focusing on expanding their manufacturing capacities while prioritizing research & development to innovate new textiles aligned with the current trends towards sustainability.

Major contenders in the industry have been strategizing on optimizing production costs, leveraging advancements in technology, and broadening their clientele. The report provides a comprehensive analysis, highlighting the high-growth opportunities across various types, sources, applications, and regions in the textile yarn market. It delivers detailed insights into market trends and forecasts, segment performance, regional analyses, growth opportunities, strategic actions, and competitive dynamics within the industry.

Market Insights

Emerging trends in the industry underline the prominence of shifting customer demands and the introduction of progressive materials and products leading the new development wave. The analysis delves into how strategic initiatives by key players are shaping the business growth and how competitive products pose threats or opportunities in market share capture.

The global analysis affords industrial stakeholders, including manufacturers, investors, and suppliers, a well-rounded view of the current landscape and the transformative phases that the textile yarn market is undergoing. It evaluates the impact of mergers and acquisitions activity over the past five years and its implications on the industry dynamics.

The report answers pertinent questions such as:

• Which market segments are expected to grow faster and why?
• What are the key challenges and business risks in the textile yarn market?
• How are emerging trends shaping the market, and what are the reasons behind them?
• What new market developments are on the horizon, and who are the disruptive industry players?

In conclusion, this comprehensive market study provides invaluable insights for business leaders and policymakers to make informed decisions fueled by an in-depth understanding of the textile yarn industry's trajectory towards 2030.

A selection of companies mentioned in this report includes

• Celanese
• Asahi Kasei
• Toray Industries
• Vardhman Textiles
• Raymond

For more information about this report visit https://www.researchandmarkets.com/r/1zxhfm

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SOURCE Research and Markets