The textile yarn market is projected to experience significant growth, reaching US $ 18.5 billion by 2028, driven by factors such as global population growth and urbanisation. With a promising CAGR of 5.1 percent, the increasing demand for apparel and the dominance of the chemical segment and China in the Asia-Pacific region are expected to contribute to this expansion.
Turkey and India are anticipated to register the highest compound annual growth rates (CAGRs) during the forecast period. Asia-Pacific is set to dominate the textile yarn market, while the artificial segment is expected to account for the largest market size.
Additionally, the apparel segment is projected to hold the largest market size throughout the forecast period. This surge is attributed to the rising demand for textiles and textile products as urbanisation continues to drive the need for textile yarns worldwide.
Cotton yarn is set to lead the textile yarn market, driven by its significant role in the textile industry and consistent demand for making comfortable and breathable garments like T-shirts, jeans, dresses, and shirts. The clothing sector continues to drive the demand for cotton yarn, maintaining its dominance in the market.
The home textile segment is poised for growth in the forecast period, encompassing a diverse array of textile products such as bedding, curtains, upholstery fabrics, towels, and rugs, among others.
These home textiles serve a crucial role in elevating the aesthetic appeal and functionality of residential spaces, contributing to their increasing demand.
