Business

Global Spun Yarn Market To Reach 59.3 Million Tons By 2026

Amid the Covid-19 crisis, the global market for spun yarn estimated at 52.5 million tons in the year 2020, is projected to reach a revised size of 59.3 million tons by 2026, growing at a CAGR of 2% over the analysis period. Cotton, one of the segments analysed in the report, is projected to record a 1.9% CAGR and reach 34.8 million tons by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the polyester segment is readjusted to a revised 2.5% CAGR for the next seven-year period. These are the findings of a new study released by StrategyR. China is forecast to reach 11.3 million tons by 2026 The spun yarn market in the US is estimated at 14.5 million tons in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of 11.3 million tons by the year 2026 trailing a CAGR of 3.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.3% and 1.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 0.8% CAGR. Cellulosic segment to reach 4.1 million tons by 2026 In the global cellulosic segment, USA, Canada, Japan, China and Europe will drive the 1.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of 2.8 million tons in the year 2020 will reach a projected size of 3.1 million tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.