Press release
Carpet Yarn Market Foreseen To Grow Exponentially Over 2031
Carpet Yarn Market
Companies are investing in R&D to launch an exclusive collection of carpet yarn. Manufacturers are expanding their product lines to meet the increasing demand for carpet yarn. Moreover, increasing demand for carpet yarn, owing to rise in demand from textile industries to make carpets in regions such as Asia Pacific and Middle East & Africa is expected to boost the market during the forecast period.
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Carpet Yarn Market: Key Segments
Based of yarn type, nylon is expected to lead the global carpet yarn market in terms of share, while polyester is expected to dominate the global market in terms of growth rate. The demand for nylon and polyester carpet yarn in several end-use verticals such as flooring, furnishing, and automotive is projected to rise at a significant growth rate.
In terms of end-user, the industrial segment is expected to dominate the global carpet yarn market. Carpets for commercial spaces and industrial use such as for the automotive sector are made in textile industries. Rising industrialization and commercial buildings are creating demand for carpets, thus increasing the demand for carpet yarn. Hence, demand for carpet yarn from the industrial segment is increasing and is expected to continue during the forecast period.
In terms of distribution channel, the direct sales channel is expected to dominate the carpet yarn market, while the indirect sales channel is expected to expand at a higher CAGR. Companies purchasing carpet yarn tend to purchase the product directly from manufacturers to avoid the charges levied by the distribution partner. However, indirect sales are also witnessing significant growth and is expected to grow during the forecast period.
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Carpet Yarn Market: Prominent Regions
Asia Pacific holds major share in the carpet yarn market and is projected to expand at the highest CAGR during the forecast period. The demand for customized carpets is increasing in several end-use verticals such as automotive, commercial workspace, and residential buildings. The carpet yarn produced is extensively utilized as mats in cars and aircrafts, etc. In addition, rapid growth in urbanization and increasing requirement from industries are the major factors anticipated to drive market growth.
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Carpet Yarn Market: Key Players
Key players operating in the global carpet yarn market are Aquafil S.p.A., Canan Tekstil, Hyosung Advanced Materials, Meridian Specialty Yarn Group, National Spinning Company, Bonar Yarns, Gulsan Holding, CLC Industries Limited, Kingbird, etc.
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