The report “Synthetic Yarn Market by Yarn type (Filament Yarn and Spun Yarn), Fiber Type (Polyester, Nylon, Rayon, Acrylic), End-Use Industries (Apparels & home furnishings, Aerospace, Automotive & transportation, Industrial), and Region – Global Forecast to 2029″, is estimated at USD 234.1 billion in 2024 and is projected to reach USD 300.5 billion by 2029, at a CAGR of 5.1% from 2024 to 2029. Synthetic yarns are made of different synthetic fibers such as polyester, nylon, rayon/viscose, acrylic and others. These fibers are created using various chemical compounds. Due to their high strength and excellent durability, synthetic yarns are widely accepted across end-use industries. Synthetic yarns are available in wide variety of colours, styles and textures and is widely used in textiles industry for clothing. The synthetic yarns are of two types- Filament yarn and Spun yarn.
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• 202 Market data Tables
• 63 Figures
• 243 Pages and in-depth TOC on “Synthetic Yarn Market – Global Forecast to 2029″
Some of the prominent key players are:
- Kuraray Co., Ltd. (Japan),
- Teijin Limited (Japan),
- Mitsubishi Chemical Corporation (Japan),
- DuPont (US),
- Toray Industries, Inc. (Japan),
- Zhejiang Hengyi Group Ltd. (China), and many more….
Driver: Growing demand for fast fashion trends
The growing demand for fast fashion in apparels & home furnishing industry is pushing the companies to manufacture cost effective and high-quality clothing and home textiles. The demand for apparel & home furnishings has risen due to the increasing urban population and changing consumer preferences and lifestyle. Synthetic yarns offer different colors, various styles and textures to produce strong and durable products. Continuous innovations in the synthetic yarn market are expected to be driven by the increasing demand for fast fashion clothing.
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Apparels & home furnishings to remain the largest end-use industries in terms of volume during the forecast period.
In 2023, Apparels & home furnishings accounted for the largest market share of global synthetic yarn market, in terms of volume. Growing demand of synthetic yarns for apparels & home furnishings due to increase in textile consumption is driving the market. Changing fashion trends and lifestyle has dominated the apparels & home furnishing industry. In upcoming years, the demand for apparels & home furnishing industry is witnessing growth due to consumer preferences towards sustainable products.
Asia Pacific region accounted for the largest share in 2023, in terms of volume.
In 2023, Asia Pacific region accounted for the highest market share, in terms of volume. Due to increase in urban population and rapid urbanization, the consumer spending in this region is driving the growth of aerospace, automotive & transportation, industrial and electrical & electronic industries. Also, growing focus towards sustainability and recycled products is driving the usage of synthetic yarns in various industries. Major key players in the synthetic yarn market are focusing the Asia Pacific region due to the strong regional market. Many manufacturers are shifting their manufacturing base in this region due to low-cost production facilities.