According to a recent report released by ReportLinker named ‘Global Textile Yarns Industry’, the global market valuation for textile yarns is estimated at US $ 12.20 billion in the year 2020. The report also forecasts it to reach US$16.10billion by 2027, growing at a CAGR of 4.10 per cent over the period 2020-2027. Artificial textile yarns, one of the segments analysed in the report, are projected to record 4.30 per cent CAGR and reach US$9.80billion by the end of the analysis period (2027). On the other hand, after an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the natural yarns is readjusted to 3.9 per cent CAGR for the next 7-year period to US $ 6.30 billion. The report further unveils that the USA will account for US $3.30billion worth of textile yarns, while China is also projected to reach US $ 3.30 billion of textile yarn values, growing at 6.60 per cent CAGR by 2027. Amongst the other noteworthy geographic markets are Japan and Canada and each of these forecasts to grow at 2.4 per cent and 3.30 per cent, respectively, over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3 per cent CAGR.
