Global Synthetic Yarn Market Size Study, By Yarn Type, Fiber Type, End-Use Industries, and Regional Forecasts 2024-2032

The global synthetic yarn market was valued at USD 222.74 billion in 2023 and is projected to achieve a significant milestone of USD 348.52 billion by 2032, expanding at a CAGR of 5.1% over the forecast period. Synthetic yarns are manufactured using synthetic fibers such as polyester, nylon, rayon/viscose, and acrylic, which are derived from various chemical compounds. Known for their superior durability, resilience, and versatility, synthetic yarns have carved their niche across numerous industries, ranging from textiles to automotive and aerospace applications.

Synthetic yarns are available in an extensive array of colors, textures, and styles, making them indispensable in the textile industry, particularly for clothing and home furnishings. Two primary types of synthetic yarns dominate the market: filament yarns and spun yarns, each catering to specific applications based on their structural and performance characteristics.

The filament yarn type emerged as the leading segment in 2023, driven by its unique attributes such as smoothness, lightweight, and versatility. The manufacturing process of filament yarn involves extruding polymers through spinnerets, which are then twisted into smooth and durable threads. This type has become a preferred choice for high-quality fabrics due to its resistance to pilling and enhanced structural integrity.

Among the fiber types, polyester fibers led the market in 2023, capturing the largest volume share. As a petrochemical-based material, polyester offers an exceptional combination of strength, stretchability, moisture resistance, and wrinkle resistance. Its quick-drying property and low-maintenance features have ensured its dominance in industries demanding durability and performance.

The apparels and home furnishings segment continues to drive the end-use application market, contributing significantly to the global synthetic yarn market. With the rising demand for textiles due to increased consumer spending, changing lifestyle trends, and a focus on sustainable fabrics, this sector is set to maintain its growth trajectory.

The Asia Pacific region held the largest market share in 2023, fueled by urbanization, a burgeoning middle class, and the region's position as a global manufacturing hub. The increasing adoption of synthetic yarns across automotive, aerospace, and industrial applications underscores the region's robust market potential. Leading manufacturers are capitalizing on the region's low production costs and infrastructure to establish competitive advantages.

Major market players are actively pursuing innovation and regional expansion to leverage growing opportunities. Companies like Toray Industries, Inc., Teijin Limited, Kuraray Co., Ltd., and Reliance Industries Limited are spearheading advancements in synthetic yarn technologies, focusing on sustainability and performance optimization.

Major Market Players Included in This Report:

• 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)

The detailed segments and sub-segments of the market are explained below:

By Yarn Type

• Filament Yarn
• Spun Yarn

By Fiber Type

• Polyester
• Nylon
• Rayon
• Acrylic

By End-Use Industries

• Apparels & Home Furnishings
• Aerospace
• Automotive & Transportation
• Industrial

By Region:

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• ROE
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• Saudi Arabia
• South Africa
• Rest of MEA

Years considered for the study are as follows:

• Historical year - 2022
• Base year - 2023
• Forecast period - 2024 to 2032

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscapes with country-level insights for major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations for future market approaches.
• Comprehensive analysis of competitive structure and demand-supply dynamics of the market.