Industrial Sewing Thread Market is growing at a CAGR of 6.1% from...

Industrial Sewing Thread Market is growing at a CAGR of 6.1% from 2022 to 2030

Δημοσιευμένα 2022-11-11 11:24:52

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According to the Market Statsville Group (MSG), the global Industrial Sewing Thread Market size was valued at USD 3,116.4 million in 2021, which is expected to reach USD 4,729.5 million by 2030, growing at a CAGR of 6.1% from 2022 to 2030.

Sewing thread is among the most essential for the footwear and apparel industries. Sewing thread usage is expanding further than footwear and apparel, including other textile products such as home interiors, automobile interiors, and technical textiles. Further, the growing popularity of low-cost clothing in developed and developing economies is another driving factor that fosters the market’s growth.

The trade of industrial sewing thread declined by around 13% in 2019. China, India, Turkey, and Italy are among the key exporters globally, comprising over 50% of total exports. The most notable growth noticed in exports, in main exporting countries, was acquainted by Turkey. In terms of imports, Italy, the US, the Philippines, and Guatemala are the key importers of industrial sewing thread, comprising over 25% of total imports.

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Global Industrial Sewing Thread Market Dynamics

Drivers: Increasing Demand for Footwear and Accessories

The growing number of working professionals, particularly women, has increased the demand for formal and casual shoes. Moreover, women's fashion consciousness has increased the demand for non-athletic footwear. People purchase footwear for every occasion, including the office, a date, and the gym. Convertible shoes that can be worn with various dresses are becoming increasingly popular as multifunctional fashion becomes increasingly popular. Additionally, new and established shoe companies are turning to celebrity endorsements to boost sales of non-athletic shoes, thereby increasing demand for footwear and accessories has driven the market’s growth.

Opportunities: Growing Demand for Technical Textile

The textile industry is regarded as a traditional sector, but technological advancement will create a lucrative growth opportunity in the textile industry. This will enhance businesses in reducing costs and innovating to gain a competitive advantage. Technical textile is a promising business strategy allowing the sector to grow on a larger scale. Textile has wide application in industries such as personal protective equipment, civil engineering and construction, automobiles, agriculture, medical, industrial safety, sports, shipping, and others known as technical textiles. Threads are also an important component of finished textiles, and the sewing threads used in the technical textile are made of polyester, polypropylene, Nylon6, Nylon6.6, and other synthetic materials. These threads are intended for use in both high and low-temperature applications. Developing specialized high-performance and modern production facilities are required to produce technical textiles. Amann, A&E, 3M, and Coats are among the major manufacturers of sewing threads worldwide.

COVID-19 Impact on the Global Industrial Sewing Thread Market

However, in light of the recent COVID-19 outbreak, numerous industries' operations have either been temporarily halted or are operating with a minimal workforce due to government-imposed strict lockdowns and restrictions. The industrial sewing thread market is also witnessed a significant impact. Besides that, the high costs associated with installing and maintaining these machines may impede the growth of the global industrial sewing thread market over the forecast period.

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Scope of the Global Industrial Sewing Thread Market

The study categorizes the industrial sewing thread market based on product, end-user, and application at the regional and global levels.

By Product Outlook (Sales, USD Million, 2017-2030)

Natural
- Cotton
- Silk
- Linen
- Wool
- other organic material
Synthetic
- Nylon
- Polyester
- Vinyl

By End-user Outlook (Sales, USD Million, 2017-2030)

Apparel
Footwear & Accessories
Home Interior
Automotive
Others

By Application Outlook (Sales, USD Million, 2017-2030)

Quilting
Sew & Stitch
Embroidery

By Region Outlook (Sales, USD Million, 2017-2030)

North America
- US
- Canada
- Mexico
Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- The Netherlands
- Norway
- Czech Republic
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
South America
- Brazil
- Argentina
- Colombia
- Rest of South America
The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA

Natural thread segment is projected to account for the largest market share, by product

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Based on product, the global industrial sewing thread market is divided into natural and synthetic. Natural threads made of cotton, silk, linen, wool, and other organic materials accounted for the highest market share in 2021, owing to the rising market for organic clothing production. The market for organic clothing is increasing rapidly in countries such as Sweden, Italy, the Netherlands, Germany, India, Spain, and the United States, among others, as the natural threads segment grows. The consumer's desire for chemical-free fibers is driving this demand. Hence, the growing demand for organic clothing will likely influence segment demand. Moreover, with increased consumer awareness of natural fabric clothing, the global natural thread segment is rapidly expanding and accounts for the largest market share

Embroidery segment is projected to account for the largest market share, by application

Based on application, the global industrial sewing thread market is divided into quilting, sewing & stitch, and embroidery. The embroidery application boosts the industrial sewing thread market, exhibiting the highest CAGR during the forecast period. The global rise of the upper middle class has led to an upsurge in demand for embroidery in recent years. Urbanization and global cultural shifts in consumer lives are major embroidery market drivers. Moreover, the embroidery market has been stimulated by the movement in customer preferences toward fashion and the practice of purchasing attractive attire. The expansion of the global fashion sector is the main driver of this market. The market is, however, mostly unstructured and undeveloped.

Asia Pacific accounts for the highest CAGR during the forecast period

Based on the regions, the global industrial sewing thread market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific is estimated to hold the highest CAGR in the global industrial sewing thread market during the forecast period. Asia-Pacific has the world's largest industrial sewing thread market. The increasing fashion trend is driving the textile production market. Personal protective clothing demand is increasing across the region from several industries, including pharmaceuticals, semiconductors, biomedical textiles, and chemicals, influencing the market’s growth. China is the world's largest textile market, chased by India, Bangladesh, Indonesia, and Vietnam. In addition, the shift in consumer behavior toward more affordable and comfortable clothing results in increased demand for high-value fabrics such as viscose, silk, and cotton. The region's demand for home textiles is also increasing, propelling the market for sewing threads.

Key Market Players in the Global Industrial Sewing Thread Market

Developing sewing threads for technical textiles for high performance and the safety of personal protective apparel has been a major priority for vendors. Outdoor fabrics like tents, lifting and restraining systems, and other composite materials used in autos all contain technical threads. Growing textile sales have offered potential expansion prospects for new vendors.

The global industrial sewing thread market is highly competitive, with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.

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Major players in the global industrial sewing thread market are: