The global yarn, fiber and thread market reached a value of nearly $74,728.9 million in 2020, having decreased at a compound annual growth rate (CAGR) of -3.0% since 2015. The market is expected to grow from $74,728.9 billion in 2020 to $142,714.8 million in 2025 at a rate of 13.8%. The market is expected to grow at a CAGR of 6.0% from 2025 and reach $191,114.7 million in 2030.
Growth factors in the historic period include emerging market growth, urbanization, increased demand for man-made fibers and government initiatives for the textile industry. Factors that negatively affected growth in the historic period were increasing costs, oil price volatility, counterfeit products and health hazards.
Going forward, global population growth and urbanization, increasing e-commerce, increasing demand for sportwear, increasing penetration of organized retail in developing economies and increasing penetration of social media are expected to drive the market. Reduction in free trade, intense competition, COVID-19 implications and shortage of cotton are major factors that could hinder the growth of the yarn, fiber and thread market in the future.
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The yarn, fiber and thread market is segmented by type into regular yarn, fiber and thread and special yarn, fiber and thread. The regular yarn, fiber and thread market was the largest segment of the yarn, fiber and thread market segmented by type, accounting for 92.3% of the total in 2020. Going forward, the special yarn, fiber and thread market is expected to be the fastest growing segment in the yarn, fiber and thread market segmented by type, at a CAGR of 14.7% during 2020-2025.
Asia Pacific was the largest region in the yarn, fiber and thread market, accounting for 71.5% of the total in 2020. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the yarn, fiber and thread market will be South America, and, Middle East where growth will be at CAGRs of 20.7% and 18.4% respectively. These will be followed by Africa, and Asia-Pacific, where the markets are expected to grow at CAGRs of 14.2 and 13.5% respectively.
The yarn, fiber and thread market is highly fragmented, with a large number of small players dominating the market. The top ten competitors in the market made up to 39.29% of the total market in 2020.The market fragmentation can be attributed to the local players that have large number of domestic manufacturing facilities and have presence across the supply chain. Going forward the market is expected to experience further expansion with large companies trying to expand their presence in other low-cost economies to take advantage of low-cost labor and cheaper raw material prices. Sinopec Group was the largest competitor with 8.43% share of the market, followed by Toray Industries Inc. with 6.98%, Reliance Industries with 6.28%, Alpek with 5.32%, Far Eastern New Century with 3.61%, Lenzing AG with 2.58%, Indorama Corporation with 2.14%, Teijin Limited with 1.91%, Eastman Chemical Company with 1.12%, and DuPont with 0.92%.
The top opportunities in the yarn, fiber and thread market segmented by type will arise in the regular yarn, fiber and thread segment, which will gain $62,345.9 million of global annual sales by 2025. The yarn, fiber and thread market size will gain the most in the India at $27,273.9 million.
Market-trend-based strategies for the yarn, fiber and thread market include developing fibers and yarns derived from biodegradable and sustainable materials, implementing digital platforms in the operational chain to reduce supply chain errors, invest in sustainable manufacturing technologies, adopt IOT technology to enhance the manufacturing process and invest in new projects through R&D and partnerships activities.
Player-adopted strategies in the yarn, fiber and thread market include strengthening the product portfolio by new product launch, expanding manufacturing capabilities, expanding fiber business by opening new manufacturing facility, strengthening polyester business by expanding its production facility and strengthening synthetic fiber business by investment in new plants.
To take advantage of the opportunities, The AMR recommends the yarn, fiber, and thread companies to focus on sustainable and eco-friendly products, focus on adoption of IOT technologies in manufacturing, advancement in sustainable manufacturing technologies, focus on digital platforms for fiber supply chain management, expand in emerging markets, leverage e-commerce to maximize reach and revenues, expand in developed markets, market-based pricing, participate in trade shows and events, increased adoption of internet and social media, increase visibility through websites, and partnerships with end-users.
