Market Overview:
The global cotton yarn market size was valued at USD 82.81 billion in 2023 and is projected to grow from USD 86.11 billion in 2024 to USD 117.79 billion by 2032, exhibiting a CAGR of 4.0% during the forecast period. The rise is being credited to the unique characteristics of yarn that influence the quality of finished textile goods.
This information is provided by Fortune Business Insights™ in its research report, titled “Cotton Yarn Market, 2024-2032”.
List of Key Players Mentioned in the Report:
Texhong (China)
Vardhman Group (India)
BROS (China)
Weiqiao Textile (China)
Lutai Textile (China)
Huafu (China)
Alok (India)
Huamao (China)
China Resources (China)
Nahar Spinning (India)
Nishat Mills (Pakistan)
Trident Group (India)
Fortex (Vietnam)
Aarti International (India)
KPR Mill Limited (India)
Segments:
Carded Yarn Segment to Record Appreciable Growth Due to Surging Product Adoption in Textile Manufacturing
On the basis of type, the market is segmented into combed yarn, carded yarn, and others. Of these, the carded yarn segment is estimated to depict considerable expansion over the forecast period. The rise is due to the increasing usage of the product for manufacturing woolen threads.
Apparel Segment to Depict Substantial Expansion Owing to Growing Yarn Demand
Based on application, the market is fragmented into textiles, apparel, and others. The apparel segment is set to register commendable growth over the estimated period. The surge can be attributed to the escalating disposable income, growing penetration of e-commerce, and others.
Based on geography, the market for cotton yarn has been analyzed across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Source: https://www.fortunebusinessinsights.com/cotton-yarn-market-107241
Report Coverage:
The report gives an in-depth analysis of the significant trends that are expected to drive the global industry outlook over the forthcoming years. It further delves into the key factors boosting market expansion throughout the projected period. These insights have been provided after extensive research and data collation from credible sources.
Drivers and Restraints:
Market Value to Rise Owing to Increasing Support from Government Bodies
One of the key factors propelling the cotton yarn market growth is the increase in government initiatives for supporting the growth of their domestic textile sectors. These initiatives are focused on skill development, creation of infrastructure, and sectoral development in the textile sector.
However, the industry expansion could be hampered due to the high price of the product compared to synthetic yarn.
Regional Insights:
Asia Pacific to Gain Traction Driven by Surging Product Demand from the Increasing Population
The Asia Pacific cotton yarn market share is expected to record substantial expansion over the projected period. The rise can be credited to the escalating product demand from the growing population and an increase in consumer expenditure in the region.
The Europe market is estimated to grow at a lucrative pace over the analysis period. The surge is being driven by the growing demand for raw materials and technical textiles over the forthcoming years.
Competitive Landscape:
Pivotal Players Enter into Partnership Agreements to Expand Product Reach
Major cotton yarn companies are focused on the adoption of a series of strategic steps such as mergers, acquisitions, and the formation of alliances to strengthen their position in the market. Some industry players are also undertaking research activities for the development of new products.
Key Industry Development:
May 2022 – Texhong shared plans to establish a key facility in Vietnam to sharply boost its fabric production. The move was taken in a bid to complement the company’s cotton based yarn business.