Asia-Pacific Textile Yarn Market: China Accounted for the Major Share

The textile yarn market growth is driven by higher levels of discretionary expenditure by consumers and development of new varieties. The market is further driven by factors such as urbanization and high industrial requirement.

(EMAILWIRE.COM, November 04, 2019 ) The textile yarn market, estimated at USD 10.27 billion in 2015, is projected to grow at a CAGR of 4.2% to reach USD 12.64 billion by 2020. The market is driven by factors such as demand for high value fabrics, consumer consciousness, and innovations leading to novel varieties. The high growth potential in emerging markets and untapped regions provide new growth opportunities for market players.

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Chemical source textile yarn accounted for the largest market share

Among the sources of textile yarn—which include animal, plant, and chemical—chemical source yarn accounted for the largest market share, followed by plant. The chemical source segment covers polyester, nylon, viscose, and acrylic textile yarn and holds the largest market share in the global textile yarn market. The other sources segment is projected to grow at the highest CAGR due to the demand for blended yarn.

Polyester leads the market with the largest share

On the basis of type, the textile yarn market is led by the polyester segment, followed by cotton. Viscose is the fastest growing yarn across the globe and has found its application in apparel industry in several places as a substitute for polyester. Silk is the fastest-growing natural yarn segment of textile yarn market, particularly in developing Asian economies due to the extensive fabric production in these countries.

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China: The future of the textile yarn industry

China is focusing on increased usage of advanced technologies and newer products for textile yarn. Also the awareness among the consumers is increasing in the country; therefore the demand for water, stain, and fire-resistant products requires specialized product development. With greater applicability of textile yarn and focus on achieving greater profits, several textile manufacturers are willing to spend on innovative blended textile yarn varieties that combine properties of natural and artificial yarn.
Turkey was the largest country-level market for textile yarn in Europe, and is projected to grow at the highest CAGR, in terms of volume.

Leading players such as Parkdale Mills Incorporated (U.S.), Vardhman Textiles Ltd. (India), Weiqiao Textile Company Ltd (China), Huvis Corporation (South Korea), and Grasim Industries Ltd (India) have been profiled in the report. The other players include Raymond Ltd. (India), Kairuide Holding Co. Ltd (China), Low & Bonar Plc (U.K.), Birleşik Koyunlulular Mensucat Tic. ve San. A.Ş. (Turkey), and Hengli Group (China).

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