Spun Yarn Market Trends and Forecast
Lucintel finds that the future spun yarn market looks promising with opportunities in the clothing and industrial application. The global spun yarn market is expected to reach an estimated $106 billion by 2030 with a CAGR of 3% from 2023 to 2030. The major drivers for market growth are changes in fashion trends and consumer preferences and increasing demand for fabrics in the automotive, healthcare, and industrial applications.
To make spun yarn, both natural fibers like cotton, wool, and silk produced from plants or animals and synthetic ones such as polyester, nylon and acrylic used for their longevity and flexibility are needed. The materials are mixed in order to obtain a blend of properties such as softness, strength and moisture management. Due to spinning processes that raw material turns into textile industry appropriate yarns as well as those used in clothes making or other industrial uses. Price differs significantly between them with natural fibers often expensive due to higher quality therefore increased production expenses while synthetic ones have low prices because of effectiveness in manufacturing. Blend yarns combine these two features in balancing performance with cost-effectiveness, serving the needs of consumers all over the world.
• Lucintel forecasts that clothing segment will remain the largest application by value and volume during the forecast period due to changes in fashion trends and growing consumer preferences for soft and comfortable clothing. Industrial segment is expected to witness highest growth over the forecast period due to increasing demand in the automotive upholstery like air bags and seat belts owing to its good abrasion resistance, high up resistance, and high stiffness properties.
• Cotton spun yarn will remain the largest segment due to its increasing usage in a wide variety of applications owing to high strength, softness comfortableness and breathable fabric properties. Polyester yarn type is expected to witness the highest growth over the forecast period due to its wrinkle resistance, durability and less fade properties.
• Asia Pacific is expected to remain the largest market and it is also expected to witness the highest growth over the forecast period due to the increasing growth of ring-spun, open-end and vortex-spun technology of spun yarns in China.
Country wise Outlook for the Spun Yarn Market
The spun yarn market is witnessing substantial growth globally. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major spun yarn producers in key regions: the USA, Germany, China, India, and Brazil.
Emerging Trends in the Spun Yarn Market
Emerging trends in the Spun Yarn Market shaping its future applications and market dynamics:
1. Growing Demand of Smart Yarns: The current wearable technology and smart textiles are increasingly being associated with electronic functionalities that include sensors used for health monitoring, temperature regulation and communication. These yarns are designed to measure the wearer’s temperature, monitor their heart rate and even act as a form of wireless communication.
2. Increasing Demand of Sustainable Fibers: The current wearable technology and smart textiles are increasingly being associated with electronic functionalities that include sensors used for health monitoring, temperature regulation and communication. These yarns are designed to measure the wearer’s temperature, monitor their heart rate and even act as a form of wireless communication.
3. Digitalization and Automation: Manufacturing yarn is being revolutionized by Industry 4.0 technologies through application of digital monitoring, predictive maintenance and automated quality control systems that enhance production efficiency as well as decrease manufacturing costs.
4. High-Performance Yarns: Innovation focuses on high-performance spun yarns having advanced properties such as moisture management, antibacterial finishing or sun protection functionality among others; all meant to address needs in sportswear, outdoor apparel or technical textile segment.
5. Customization and Personalization: This is enabled by digital design tools and flexible production processes for designing customized spun yarns targeted at specific end-users’ purposes in particular sectors
6. Circular Economy Initiatives: Post-consumer waste has been recycled to make new spun yarns promoting closed-loop sustainability in the textile industry thus this creates circular economy initiatives in manufacturing organizations plus those who deal with industrial wastes as well.
These trends reflect ongoing innovations in the global spun yarn market, driven by consumer demand for sustainable products, advancements in textile technology, and the integration of digital solutions for enhanced efficiency and product customization.
A total of 107 figures / charts and 68 tables are provided in this 205-page report to help in your business decisions. A sample figure with insights is shown below.
Recent Developments by the Spun Yarn Market
Recent developments in spun yarn market by various companies highlight ongoing innovations and advancements across different sectors:
• Textile Industry: Spun Yarn is innovating in the textile industry with an emphasis on enhancing performance characteristics including strength, durability and comfort. There is a move towards sustainable production of eco-friendly yarns using recycled fibers or organic materials.
• Fashion and Apparel: The fashion industry is increasingly adopting spun yarns with unique textures, colors, and finishes to meet consumer demand for personalized and high-quality clothing. Innovations include yarns with enhanced stretch properties or specialized coatings for water resistance.
• Toward Home Textiles: Spun yarns are used in home textiles like bedding, curtains, and upholstery. Developments focus on improving characteristics such as yarn aesthetics, softness, ease of care based upon trends in home décor and interior design.
• Technical Textiles: Technical textiles use spun yarns since they play a significant role in fabrics meant for filtration purposes among other applications like automotive textiles or geotextiles. These innovations are aimed at developing functional yarns that exhibit features such as flame retardancy; intentional UV resistance or conductivity.
• Healthcare and Hygiene: In healthcare products such as surgical textiles, wound dressings and hygiene products spun yarn forms the backbone of these items. These developments consist of antimicrobial yarns as well as moisture wicking yarns to increase comfort as well as hygiene.
• Sports and Outdoor Equipment: In sports wear and outdoor gear especially apparel which should perform under severe conditions spun-yarns find their application. Innovations aim at improving moisture management, breathability, and abrasion resistance.
• Automotive and Transportation: Spun yarns are utilized in automotive interiors and upholstery (Kanwal et al., 2015) where they contribute to comfortability (Zheng et al., 2014), durabilityand aesthetic appeal. These developments are geared towards lowering environmental impacts by use of recycled materials or rather sustainable fibers.
Strategic Growth Opportunities for Spun Yarn Market
The spun yarn market is very dynamic due to its unique properties of being lightweight, strong and thermally stable. Some key strategic growth opportunities for this market include:
Expanding in Technical Textiles
• Advantage: Growing demand for spun yarn applications in technical textiles such as automotive fabrics, filtration materials and medical textiles.
• Opportunity: Improved Yarn Innovations to cater for specialized functions, leveraging on durability, and performance enhancements.
Rising Demand for Sustainable Fibers:
• Advantage: Increased consumers’ preference for sustainable textiles influences demand of spun yarn from organic and recycled fibers.
• Opportunity: Market differentiation through sustainability certifications and products aligned with green consumerism trends.
Emerging Markets in Asia-Pacific:
• Advantage: Rapid industrialization and urbanization in countries like China and India boost demand for textile products including spun yarn.
• Opportunity: Expansion through strategic partnerships and local manufacturing to capitalize on regional growth opportunities.
Innovative Blends & Specialized Yarns
• Advantage: Development of blended yarns combining different fibres (e.g., cotton-polyester blends) with properties such as moisture-wicking capabilities or stretch improvements.
• Opportunity: Customization for sportswear, athleisure, and fashion segments to meet evolving consumer preferences.
Digitalization in Supply Chain & Manufacturing
• Advantage: Adoption of digital technologies for inventory management, predictive analytics, process optimization etc.
• Opportunity: Improving operational efficiency, reducing lead times, meeting just-in-time demands in the global textile market
Focus on Product Innovation & Design:
• Advantages: Investing in R&D for innovative designs and finishes that create unique textures, colors or functional characteristics on yarns made by spinning mills worldwide.
• Opportunities. There is a need to differentiate these products within competitive markets; this includes capturing niche segments such as luxury textiles or home furnishings.
Adaptation to Fashion Trends & Consumer Preferences
• Advantage: This is an advantage because the company can quickly respond to fast changing fashion trends as well as preference of individual clients who require customization of products.
• Opportunity: The ones that have agile production capabilities have quick turnaround times for designing collections on a seasonal basis thereby satisfying market requirements.
Spun Yarn Market Drivers and Challenges
The trajectory of the spun yarn market is influenced by drivers and challenges. Market growth is driven by demands by textile industries across the globe for versatile and cost-effective solutions to their yarns as a driver in question. However, there are major challenges such as fluctuating prices of raw materials, tough environmental legislation, and disruptions in global supply chains. The critical issue at stake is balancing these aspects to enable spinning yarn play its role in textiles manufacturing while ensuring quality consistency sustainably priced within an innovation demanding dynamic world marketplace.
The key drivers for the global Spun yarn market include:
1. The Growth of Textile Industry: Demand for spun yarn is closely tied to the textile sector, which keeps growing globally mainly in developing markets.
2. Changes in Fashion Trends: The changing consumer preferences and fashion trends that exist over time have affected the demand for various types of yarns thereby influencing the dynamics of spun yarn market.
3. Use in Technical Textiles: The growth of this market has been fostered by increasing application of spun yarn in technical textiles including those used in automotive industries, medical purposes, and protective garments.
4. Efforts to be Sustainable: Rising consciousness about sustainability has fuelled the desire for ecofriendly and organic spun yarn for green-minded consumers.
5. Material Innovations: New ones among them being blends and fibers such as high performing filaments and recycled fibers that offer improved services to their customers have been developed hence expanding the market size in this industry.
The challenges in the global spun yarn market include:
1. Factors that Cause Raw Material Price Volatility: Production costs and profitability are influenced by changes in raw material prices, such as cotton, polyester and other natural and synthetic fibers.
2. Intense Competition from Manmade Fibers: Polyester and nylon compete with traditional fibers, posing cost benefits and special properties to spinning yarn.
3. Changes in the Regulation Environment: Environmental protection laws and labor standards compliance impose additional complexity and elevated costs on yarn manufacturing companies.
4. Global Economic Uncertainty: Downturns in economic activity or geopolitical tensions disrupt consumer expenditure patterns which then affect industrial demand thereby influencing spun yarn market.
5. The Role of Technology in Spinning Yarn Production: Automatic processes for operations in spinning require a lot of money to be invested before they can be adopted by smaller businesses that may find it difficult to employ 21st century technological knowhow advancement.
Navigating through raw material fluctuations and environmental regulations will require innovation in yarn spinning techniques and sustainable practices. By adopting new technologies and promoting industry alliances, this can increase the competitive edge of spun yarns while making them more sustainable in the textile market globally. It is important to address these variables effectively for continuous growth as well as meeting various customers’ needs for high-quality eco-friendly goods..
Spun Yarn Suppliers and Their Market Shares
In this globally competitive market, several key players such as Indorama Ventures, Far Eastern New Century, Parkdale Mills, Shuford Yarns, and Hyosung Advance Material etc. dominate the market and contribute to industry’s growth and innovation. These players capture maximum market share. To know the current market share of each of major players, contact us by email at helpdesk@lucintel.com.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies spun yarn cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the spun yarn companies profiled in this report include.
• Indorama Ventures
• Far Eastern New Century
• Parkdale Mills
• Shuford Yarns
• Hyosung Advance Material
These companies have established themselves as leaders in the global Spun Yarn Market, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations.
The market share dynamics within the spun yarn market are evolving, with the entry of new players and the emergence of innovative spun yarn market technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.
Spun Yarn Market by Segment
The global spun yarn market is witnessing growth in major sectors, including synthetic fibers such as polyester and nylon that are cost-efficient and versatile in apparel, home textiles, and industrial applications. Blended yarns that incorporate both natural and synthetic fibers are also growing to meet the demand of enhanced performance attributes like moisture management and durability. Specialty yarns like aramid and carbon fibers are being used more often in technical textiles due to their superior strength and heat resistance features. Furthermore, there is a growing demand for organic and sustainable yarns such as organic cotton or recycled polyester based on consumer preferences for eco-friendly options. On top of this, innovation in emerging areas of smart textiles together with niche industrial sectors also continue to expand the market.
Global Spun Yarn Market by Application [Value ($M) and Volume (Kilotons) analysis for 2018-2030]:
• Clothing
• Industrial
Global Spun Yarn Market by Yarn Type [Value ($M) and Volume (Kilotons) analysis for 2018-2030]:
• Cotton
• Polyester
• Cellulosic
• Others
Global Spun Yarn Market by Region [Value ($M) and Volume (Kilotons) analysis for 2018-2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Features of Spun Yarn Market
• Market Size Estimates: spun yarn market size estimation in terms of value ($M) and volume (Kilotons)
• Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
• Segmentation Analysis: Market size by application, yarn type, and region
• Regional Analysis: Spun yarn market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different application, yarn type, and regions for the spun yarn market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the spun yarn market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in spun yarn or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
FAQ
Q1. What is the spun yarn market size?
Answer: The global spun yarn market is expected to reach an estimated $106 billion by 2030.
Q2. What is the growth forecast for spun yarn market?
Answer: The spun yarn market is expected to grow at a CAGR of 3% from 2023 to 2030.
Q3. What are the major drivers influencing the growth of the spun yarn market?
Answer: The major drivers for market growth are changes in fashion trends and consumer preferences and increasing demand for fabrics in the automotive, healthcare, and industrial applications.
Q4. What are the major end uses for spun yarn?
Answer: Industrial and clothing are the major applications for spun yarn.
Q5. What are the emerging trends in spun yarn market?
Answer: Emerging trends, which have a direct impact on the dynamics of the spun yarn industry, includes growing demand of smart yarns, increasing demand of sustainable fibers, digitalization and automation, high-performance yarns, customization and personalization, and circular economy initiatives.
Q6. Who are the key spun yarn companies?
Answer: Some of the key spun yarn companies are as follows:
• Indorama Ventures
• Far Eastern New Century
• Parkdale Mills
• Shuford Yarns
• Hyosung Advanced Material
• Bitratex
• Thai Polyester Co. Ltd.
• Aarti International
• Hubei Yuanying Industry & Trade Co., Ltd.
Q7.Which spun yarn type segment will be the largest in future?
Answer: Lucintel forecasts that cotton spun yarn will remain the largest segment due to its increasing usage in a wide variety of applications owing to high strength, softness comfortableness and breathable fabric properties. Polyester yarn type is expected to witness the highest growth over the forecast period due to its wrinkle resistance, durability and less fade properties.
Q8: In spun yarn market, which region is expected to be the largest in next 7 years?
Answer: APAC is expected to remain the largest region over next 7 years
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1 What are some of the most promising potential, high growth opportunities for the global spun yarn market by application (clothing, and industrial), yarn type (cotton, polyester, cellulosic, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?