CHICAGO, June 18,
2024 /PRNewswire/ -- 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.
Browse in-depth TOC on "Synthetic Yarn Market"
202 – Tables
63 – Figures
251 –
Pages
Download PDF
Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=234897557
Filament yarn type accounted for the largest market share in
2023, in terms of value.
In 2023, Filament yarn type dominated the global synthetic yarn
market, in terms of value. The high market share and growth of
filament yarn can be attributed to their key advantages as compared
to other yarn type, that is Spun yarn. Filament yarn is made from
polymer which is extruded through spinnerets and drawn into
filaments and then twisted into yarn. Filament yarns are smooth,
light weight, versatile, and reduces fabric pilling.
Polyester fiber type accounted for the largest market share,
in terms of volume in 2023.
Global synthetic yarn market has been segmented based on the
fiber type. In 2023, polyester fiber type dominated the market in
terms of volume and value by contributing to the highest market
share. Polyester fiber is a man-made fiber made from Petro-based
chemicals offering high strength, versatility, durability,
stretchability, resistant to wrinkle and moisture. They are easy to
care for and has quick drying property and is used in wide range of
industries.
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.
Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=234897557
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.
Key Players:
Prominent companies in the synthetic yarn market include Kuraray
Co., Ltd. (Japan), Teijin Limited
(Japan), Mitsubishi Chemical
Corporation (Japan), DuPont (US),
Toray Industries, Inc. (Japan),
Zhejiang Hengyi Group Ltd. (China), Reliance industries Limited
(India), Indorama Ventures Public
company Limited (Thailand), Aksa
Akrilik Kimya (Turkey), Lenzing
Group (Austria), Eastman Chemical
Company (US).
Browse Adjacent Market: Fibers and Composites Market
Research Reports & Consulting
Related Reports:
Polyester Fiber Market - Global Forecast to
2028
Polyester Film Market - Global Forecast to
2028
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one
of America's best management consulting firms by
Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth
consulting and program management, leveraging a man-machine
offering to drive supernormal growth for progressive organizations
in the B2B space. We have the widest lens on emerging technologies,
making us proficient in co-creating supernormal growth for
clients.
Earlier this year, we made a formal transformation into one of
America's best management consulting firms as per a survey
conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are
substituting existing revenue streams in this decade alone. We work
with clients on growth programs, helping them monetize this
$25 trillion opportunity through our
service lines - TAM Expansion, Go-to-Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement, and Thought
Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several
Forbes Global 2000 B2B companies - helping them stay relevant in a
disruptive ecosystem. Our insights and strategies are molded by our
industry experts, cutting-edge AI-powered Market Intelligence
Cloud, and years of research. The KnowledgeStore™ (our Market
Intelligence Cloud) integrates our research, facilitates an
analysis of interconnections through a set of applications, helping
clients look at the entire ecosystem and understand the revenue
shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or
follow us
on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research
Insight:https://www.marketsandmarkets.com/ResearchInsight/synthetic-yarn-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source:
https://www.marketsandmarkets.com/PressReleases/synthetic-yarn.asp
Logo:
https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original
content:https://www.prnewswire.com/news-releases/synthetic-yarn-market-worth-300-5-billion-by-2029--exclusive-report-by-marketsandmarkets-302175222.html
SOURCE MarketsandMarkets