Fancy Yarn Market
Fancy Yarn Market (Product Type: Spiral Yarn, Gimp Yarn, Loop Yarn, Snarl Yarn, Knob Yarn, Slub Yarn, and Others; Fiber: Cotton, Wool, Silk, Polyester, Rayon, and Others; Price Range: Low, Medium, and High; End Use: Fashion Clothing, Knitwear, Ties, Furnishings, Curtains, Upholstery, and Others; and Distribution Channel: Online and Offline) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Press Release :
Incremental Improvements Offered by New Technologies to Redefine Fancy Yarn Production
Fancy yarns are typically manufactured by irregular plying of a stable fiber or continuous filaments. Over the past few decades, fancy yarns have gained immense popularity across the fashion industry and the trend is set to carry forward in the upcoming years with great intensity– a factor that is expected to drive the growth of the global fancy yarn market. The production scenario of fancy yarn has witnessed a considerable transformation over the last couple of decades, due to advancements in technology and entry of innovative manufacturing concepts. New manufacturing techniques have gradually replaced outdated and conventional manufacturing methods as a result of which, mass production of fancy yarn across the world is being carried out. The increasing production volume of fancy yarn on the global scale has played a key role in minimizing the prices of the product, which, in turn, is expected to have a positive influence on the demand for fancy yarns.
Fancy yarns are increasingly being used around the world to manufacture a range of fashion apparels, including ties, furnishings, jackets, and curtains. Some of the most extensively used fancy yarns include spiral, loop, snarl, NEP, slub, and chenille, among others. In the past decade, a number of Yarn Expos has been organized in various major regional markets, wherein market players from around the world showcased their latest products and fancy yarns– a major factor that have contributed to the expansion of the global fancy yarn market.
Market players are increasingly focusing on leveraging new technologies to enhance their production techniques and introduce high-quality fancy yarns. At the back of these factors, along with the booming fashion industry, the global fancy yarn market is set to surpass the US$ 7.6 Bn mark by the end of 2030.
Request a sample to get extensive insights into the Fancy Yarn Market
Blend of Traditional and Modern Production Methods Boosts Market Growth
Technological advancements and entry of new production concepts have played a key role in driving the market for fancy yarns over the past couple of decades. Although conventional production techniques such as ring spinning systems are wide across the world, open-end spinning, wrap spinning, and hollow spindle are some of the other production methods that have witnessed considerable adoption. Value-added yarns have emerged as one of the most popular commodities across the fancy yarn market, owing to its aesthetic appearance and decorative value. Market players are increasingly investing in upgrading their existing machinery and augmenting the fashion appeal of their products to gain considerable advantage in the market. Advancements in spinning technology over the past few years has gradually paved the way for cost-efficient and high-quality production of fancy yarn.
Technological advancements across the fancy yarn market provide incremental improvements, which primarily result in improved product quality, efficiency in manufacturing, and consistent improvements in the manufacturing of fancy yarns.
Market players continue to introduce innovations in both manmade fiber as well as the staple fiber spinning. The onset of the Industry 4.0 has played an important role in the introduction of new concepts and innovations that largely focus on efficiency improvements. Several market players are currently focusing on introducing new manufacturing concepts to enhance production efficiency. For instance, Savio Macchine Tessili S.p.A, an Italian fancy yarn manufacturer continues to focus on product innovation and utilizing the concepts of Industry 4.0 to establish a solid foothold in the current market landscape. Remote machine set up, real-time operator interactivity, and data management, among others are some of the key areas that market players are expected to focus on to improve their position in the market.
To understand how our report can bring difference to your business strategy, Ask for a brochure
Decline in Textile Sales amid COVID-19 Pandemic to Hinder Market Growth
The advent of the COVID-19 pandemic is anticipated to have a strong impact on the growth of the global fancy yarn market, particularly in 2020. Due to stringent lockdown measures imposed by governments across the world and restrictions on cross-border trade and transportation, global exports of fancy yarns have witnessed a drastic decline in the second quarter of 2020. Moreover, as per current observations, the exports are likely to move up again toward the last quarter of 2020. In addition, the closure of shopping centers, malls, and retail outlets in several regions worldwide has led to a noteworthy decline in the sales of domestic as well as international clothing. In addition, postponement or cancellation of orders in the apparel sector has increased due to the COVID-19 situation due to which, the consumer demand has taken a massive hit.
Stuck in a neck-to-neck competition with other brands? Request a custom report on Fancy Yarn Market
The global fancy yarn market is expected to expand at a healthy CAGR of ~6% during the forecast period. The market growth can be primarily attributed to booming fashion sector worldwide, increasing awareness related to different brands and products, rise in disposable income, advancements in technology, and focus on innovation. The onset of Industry 4.0 is projected to drive innovations in production due to which, the fancy yarn market is anticipated to witness considerable growth. Market players should focus on product diversification and leveraging new technologies to gain ground across the global fancy yarn market.
Fancy Yarn Market: Overview
- Fancy yarn contains deliberate variation of form or color, or both. These yarns are designed mainly for their aesthetic appearance rather than performance. Fancy yarn gives a fancy touch to fabrics in a broad range of end uses. Fancy yarn sees very high demand in the manufacturing or production of women and children outerwear. Fancy yarn is also known as novelty yarn, specialty yarn, effect yarn, and fashion-oriented yarn.
Fancy Yarn Market: Regional Overview
- Asia Pacific accounted for the highest share of the fancy yarn market in 2019, and is likely to be the leading region for fancy yarns, owing to the presence of a dominant consumer base in the region. China and India are major fancy yarn markets in Asia Pacific. The rapid increase in sales & production of fancy yarn in China, India, and various other Southeast Asian countries is projected to drive the fancy yarn market in the Asia Pacific region.
Fancy Yarn Market: Market Trends
- Increasing demand for stylish and fashionable dresses is driving the demand for fancy yarn in suiting and apparel manufacturing. Over the years, consumer preference has changed from durable, basic fabric to fashion fabric. Textile companies are using distinguishing features of fashion fabrics to produce exclusive designs for different occasions.
- Extensive research & development activities coupled with strong investments in latest technology and machinery are key focus areas of fancy yarn manufacturers. Companies aim to design innovative products with varied slub structure, color effects, and texture effects. New product launches, customer-focused designing, and a wide range of shades collection are key strategies used by companies to acquire diverse end users.
Fancy Yarn Market: Drivers, Opportunities, and Restraints
- Rapid expansion of middle class population and changing consumer preferences toward fashion and clothing are estimated to drive the demand for fancy yarns during the forecast period. The commercial significance of fancy yarn is expected to increase due to the richness of possible effects and their artistic impact on woven and knitted fibers. Moreover, fancy yarn is widely preferred in home furnishing and upholstery fabrics. Improved living standards and changing lifestyles are likely to transform consumer preference for home furnishing and decoration. These factors are projected to be a driving factor for the fancy yarn market.
- Technological advancements are driving the development of new components, machines, and equipment for spinning operations. Manufacturers of spinning attachment are increasingly investing in research and development projects to produce high-end spinning systems. These systems will influence the development of innovative fancy yarns with designer effects, which find potential application in premium clothing and interior furnishing.
- Availability and volatility of raw materials have a significant impact on operating margins. Unpredictable raw material prices can lead the fluctuation in fancy yarn selling prices. The trade war between the U.S. and China has also had an extensive impact on the macroeconomic environment of the industry. These factors are likely to hinder the growth of the fancy yarn market during the forecast period.
Fancy Yarn Market: Key Segments
- The global fancy yarn market has been segmented based on product type, fiber, price range, end use, distribution channel, and region
- Based on product type, the global fancy yarn market has been classified into spiral yarn, gimp yarn, loop yarn, snarl yarn, knob yarn, slub yarn, and others
- In terms of fiber, the market has been divided into cotton, wool, silk, polyester, rayon, and others
- Based on price range, the market has been classified into low, medium, and high
- In terms of end use, the global fancy yarn market has been categorized into fashion clothing, knitwear, ties, furnishings, curtains, upholstery, and others
- In terms of distribution channel, the global fancy yarn market has been bifurcated into online and offline
- Based on region, the global fancy yarn market has been divided into North America (U.S., Canada, and Rest of North America), Europe (U.K., Germany, France, and Rest of Europe), Asia Pacific (China, India, Japan, and Rest of Asia Pacific), Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa), and South America (Brazil and Rest of South America)
Fancy Yarn Market: Competition Landscape
- Competition in the global fancy yarn market is very high. A large number of small- and large-scale manufacturers are present in the market. Companies are following various strategies to increase their market share through mergers & acquisitions, and innovations and developments.
- Key players operating in the fancy yarn market are -
- Filpucci Spa
- Filati G.B. Srl
- Ipeks Tekstil
- Jiangyin Huayi Yarn Co., ltd
- Laxtons Limited
- Siyaram’s Silk Mills Limited
- Sutlej Textiles and Industries Limited
- Kongkiat Textile Co ltd
- Winning Textile Co Ltd.
- Softech Controls Pvt. Ltd.
- Skaat Machine Works India Pvt. Ltd.
- Saurer AG
- Rieter, etc.
Fancy Yarn Market – Scope of the Report
A new study on the global fancy yarn market has been published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including the drivers, market trends, and challenges, as well as the structure of the global fancy yarn market across the globe. TMR’s study offers valuable information about the global fancy yarn market to illustrate how the market would grow during the forecast period, 2020–2030.
Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR) have been elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global fancy yarn market during the forecast period.
An extensive analysis of business strategies of leading market players has also been featured in TMR’s study on the global fancy yarn market. This can help readers understand principal factors to foresee growth in the global fancy yarn market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global fancy yarn market, which is expected to guide market players in making apt decisions in the future.
Key Questions Answered in TMR’s Fancy Yarn Market Study
- What are the key factors influencing the fancy yarn market in each region?
- What will be the CAGR of the global fancy yarn market between 2020 and 2030?
- What is the future scope and current trends in terms of sizing and end use of the global fancy yarn market?
- What is the revenue of the global fancy yarn market based on the respective segments?
- Which are the key strategies used by top players of the global fancy yarn market?
- Which are the leading companies in the global fancy yarn market?
Research Methodology – Fancy Yarn Market
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global fancy yarn market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global fancy yarn market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the fancy yarn market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from fancy yarn industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global fancy yarn market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the global fancy yarn market more reliable and accurate.
Fancy Yarn Market – Segmentation
TMR’s study on the global fancy yarn market includes information categorized into six sections - by product type, fiber, price range, end use, distribution channel, and region. Changing industry trends and other crucial market dynamics associated with these sections of the fancy yarn market have been discussed in detail.