Global synthetic yarn market threads growth at $234.1 billion.

The global synthetic yarn market is rising, reaching an estimated $234.1 billion in 2024 and projected to hit $300.5 billion by 2029, with a steady growth rate of 5.1 per cent, says a new report by MarketsandMarkets. This growth is due to the versatility and durability of synthetic yarns, particularly filament yarn and polyester fibers.

Filament yarns, known for their smoothness and lightweight properties, currently dominate the market. Polyester, a popular choice for its strength, wrinkle resistance, and quick drying, holds the largest volume share.

Apparel and home furnishings are the primary consumers of synthetic yarns, driven by rising textile consumption and evolving fashion trends. Consumers' increasing interest in sustainable products is also influencing the market, with manufacturers focusing on recycled materials.

The Asia Pacific region is a major driver, with its booming population and urbanization boosting demand across various industries. The focus on sustainability in this region is creating additional opportunities for synthetic yarns. Leading players like Kuraray, Teijin, and Reliance Industries are capitalizing on this growth, with some even shifting production to Asia Pacific for its cost-effective manufacturing facilities.