Lucintel Forecasts Carpet Yarn Market to Reach $22.8 Billion by 2028

iCrowd Newswire
18 Sep 2023, 19:32 GMT+10

According to the recent study the carpet yarn market is projected to reach an estimated $22.8 billion by 2028 from $17.9 billion in 2023, at a CAGR of 5% from 2023 to 2028. Growth in this market is primarily driven by increasing customer's interest in unique and customized carpets and rugs, growing residential and commercial construction activities, and increasing inclination towards carpet yarn products made from natural fibers.

A more than 150 – page report is developed to understand trends, opportunities and forecast in carpet yarn market by yarn type (nylon, polyester, polypropylene, cotton, wool, acrylic, and others), distribution channel (direct sales and indirect sales), end use (residential and industrial), and region (North America, Europe, Asia Pacific, and the Rest of the World).

"Nylon market is expected to remain the largest segment during the forecast period."

Based on yarn type, the carpet yarn market is segmented into nylon, polyester, polypropylene, cotton, wool, acrylic, and others. Lucintel forecasts that the nylon market is expected to remain the largest segment due to the widespread use of nylon in carpet manufacturing because of its softness, toughness, resistance to stains and abrasion and it is available in different color as well as patterns.

"Within the carpet yarn market, the industrial segment is expected to remain the largest end use"

Based on end use the industrial segment is expected to witness the highest growth over the forecast period due to the significant demand for carpets in commercial spaces and automotive sector.

"Asia pacific will dominate the carpet yarn market in near future"

APAC will remain the largest region due to the growing customer spending towards home and office décor, rapid industrialization and significant demand for personalized carpets in various end use industries, such as automotive, commercial, and residential construction sectors.

Major players of carpet yarn market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Aquafil S.p.A., CananTekstil, Hyosung Advanced Materials, Meridian Specialty Yarn Group, National Spinning Company, Bonar Yarns, and Gulsan Holding are among the major carpet yarn providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact: Roy Almaguer Lucintel Dallas, Texas, USA Email: [email protected] Tel. 972.636.5056

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