The synthetic yarn market is projected to grow from USD 234.1 billion in 2024 to USD 300.5 billion by 2029, at a CAGR of 5.1% during the forecast period. Synthetic yarn has a wide range of applications such as clothing, home textiles, aerospace components, automotive parts and other applications. The growing demand from apparels & home furnishings is driving the growth of synthetic yarn market across the globe. Synthetic yarn being cost-effective as compared to natural fiber yarn is gaining demand in the synthetic yarn market.
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In comparison to natural fiber yarn, synthetic yarns are cheaper. They are available in a wide range of colours, styles, and textures. They are soft, light weight, strong, and offer excellent durability. Another advantage is that synthetic yarns are resistant to wrinkle, chemicals, and moisture. They are easy to care for and has quick drying property. Due to these properties, they are widely used in apparels & home furnishings, offering various clothing items and home textiles.
Some of the major manufacturers operating in the synthetic yarn market are 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), Aka Akrilik Kimya (Turkey), Lenzing Group (Austria), Eastman Chemical Company (US).
Many of the major players in the past few years have been adopting various growth strategies to strengthen their position in the global synthetic market. These growth strategies include agreements, product launches, contracts, collaborations, mergers & acquisitions, partnerships, and research and development activities aiming to expand their market presence in the synthetic yarn market even further.
Kuraray Co., Ltd. (Japan)
Kuraray Co., Ltd, is leading Japanese company that deals in the manufacturing of Chemicals, Fibers and other materials. The company operates under various business segments such as Vinyl acetate, Trading, Fibers, Textiles, Functional materials, Isoprene and others. The company is top leading manufacturer of filament yarn and spun yarn. They have 31 production facilities and 3 laboratories worldwide and maintains its strong foothold in North America, Europe and the Asia Pacific region.
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Teijin Limited (Japan)
Teijin limited is one of the top leading manufacturer and seller of chemical products. They operate under various business segments such as Materials, Healthcare, Fibers & product converting, Information Technology and others. The company provides high quality and high-performance synthetic yarn products under the brand named Tenax. Teijin limited is spread across globally and maintains its geographical presence in North America, Europe and the Asia Pacific region, covering 20 countries.
Asia Pacific region accounted for the largest share in 2023, in terms of volume.
In 2023, the Asia-Pacific region accounted for the largest share of the Synthetic Yarn Market in terms of volume. This dominance is attributed to the region’s thriving textile industry, rapid urbanization, and growing demand for high-quality apparel and home textiles. Countries like China and India lead in production and consumption, benefiting from low production costs and abundant raw materials. The region’s focus on innovation and sustainability further propels market growth, solidifying Asia-Pacific’s position as a crucial player in the global synthetic yarn industry.
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