Incremental Improvements Offered by New Technologies to Redefine Fancy Yarn Production
Fancy yarns are typically manufactured by irregular plying of a stable fiber or continuous filaments. Over the past few decades, fancy yarns have gained immense popularity across the fashion industry and the trend is set to carry forward in the upcoming years with great intensity– a factor that is expected to drive the growth of the global fancy yarn market. The production scenario of fancy yarn has witnessed a considerable transformation over the last couple of decades, due to advancements in technology and entry of innovative manufacturing concepts. New manufacturing techniques have gradually replaced outdated and conventional manufacturing methods as a result of which, mass production of fancy yarn across the world is being carried out. The increasing production volume of fancy yarn on the global scale has played a key role in minimizing the prices of the product, which, in turn, is expected to have a positive influence on the demand for fancy yarns.
Fancy yarns are increasingly being used around the world to manufacture a range of fashion apparels, including ties, furnishings, jackets, and curtains. Some of the most extensively used fancy yarns include spiral, loop, snarl, NEP, slub, and chenille, among others. In the past decade, a number of Yarn Expos has been organized in various major regional markets, wherein market players from around the world showcased their latest products and fancy yarns– a major factor that have contributed to the expansion of the global fancy yarn market.
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Market players are increasingly focusing on leveraging new technologies to enhance their production techniques and introduce high-quality fancy yarns. At the back of these factors, along with the booming fashion industry, the global fancy yarn market is set to surpass the US$ 7.6 Bn mark by the end of 2030.
Blend of Traditional and Modern Production Methods Boosts Market Growth
Technological advancements and entry of new production concepts have played a key role in driving the market for fancy yarns over the past couple of decades. Although conventional production techniques such as ring spinning systems are wide across the world, open-end spinning, wrap spinning, and hollow spindle are some of the other production methods that have witnessed considerable adoption. Value-added yarns have emerged as one of the most popular commodities across the fancy yarn market, owing to its aesthetic appearance and decorative value. Market players are increasingly investing in upgrading their existing machinery and augmenting the fashion appeal of their products to gain considerable advantage in the market. Advancements in spinning technology over the past few years has gradually paved the way for cost-efficient and high-quality production of fancy yarn.
Technological advancements across the fancy yarn market provide incremental improvements, which primarily result in improved product quality, efficiency in manufacturing, and consistent improvements in the manufacturing of fancy yarns.
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Market players continue to introduce innovations in both manmade fiber as well as the staple fiber spinning. The onset of the Industry 4.0 has played an important role in the introduction of new concepts and innovations that largely focus on efficiency improvements. Several market players are currently focusing on introducing new manufacturing concepts to enhance production efficiency. For instance, Savio Macchine Tessili S.p.A, an Italian fancy yarn manufacturer continues to focus on product innovation and utilizing the concepts of Industry 4.0 to establish a solid foothold in the current market landscape. Remote machine set up, real-time operator interactivity, and data management, among others are some of the key areas that market players are expected to focus on to improve their position in the market.
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Decline in Textile Sales amid COVID-19 Pandemic to Hinder Market Growth
The advent of the COVID-19 pandemic is anticipated to have a strong impact on the growth of the global fancy yarn market, particularly in 2024. Due to stringent lockdown measures imposed by governments across the world and restrictions on cross-border trade and transportation, global exports of fancy yarns have witnessed a drastic decline in the second quarter of 2024. Moreover, as per current observations, the exports are likely to move up again toward the last quarter of 2024. In addition, the closure of shopping centers, malls, and retail outlets in several regions worldwide has led to a noteworthy decline in the sales of domestic as well as international clothing. In addition, postponement or cancellation of orders in the apparel sector has increased due to the COVID-19 situation due to which, the consumer demand has taken a massive hit.
Fancy Yarn Market: Overview
Fancy yarn contains deliberate variation of form or color, or both. These yarns are designed mainly for their aesthetic appearance rather than performance. Fancy yarn gives a fancy touch to fabrics in a broad range of end uses. Fancy yarn sees very high demand in the manufacturing or production of women and children outerwear. Fancy yarn is also known as novelty yarn, specialty yarn, effect yarn, and fashion-oriented yarn.
Fancy Yarn Market: Regional Overview
Asia Pacific accounted for the highest share of the fancy yarn market in 2019, and is likely to be the leading region for fancy yarns, owing to the presence of a dominant consumer base in the region. China and India are major fancy yarn markets in Asia Pacific. The rapid increase in sales & production of fancy yarn in China, India, and various other Southeast Asian countries is projected to drive the fancy yarn market in the Asia Pacific region.
Fancy Yarn Market: Market Trends
Increasing demand for stylish and fashionable dresses is driving the demand for fancy yarn in suiting and apparel manufacturing. Over the years, consumer preference has changed from durable, basic fabric to fashion fabric. Textile companies are using distinguishing features of fashion fabrics to produce exclusive designs for different occasions.
Extensive research & development activities coupled with strong investments in latest technology and machinery are key focus areas of fancy yarn manufacturers. Companies aim to design innovative products with varied slub structure, color effects, and texture effects. New product launches, customer-focused designing, and a wide range of shades collection are key strategies used by companies to acquire diverse end users.
Fancy Yarn Market: Drivers, Opportunities, and Restraints
Rapid expansion of middle class population and changing consumer preferences toward fashion and clothing are estimated to drive the demand for fancy yarns during the forecast period. The commercial significance of fancy yarn is expected to increase due to the richness of possible effects and their artistic impact on woven and knitted fibers. Moreover, fancy yarn is widely preferred in home furnishing and upholstery fabrics. Improved living standards and changing lifestyles are likely to transform consumer preference for home furnishing and decoration. These factors are projected to be a driving factor for the fancy yarn market.
Technological advancements are driving the development of new components, machines, and equipment for spinning operations. Manufacturers of spinning attachment are increasingly investing in research and development projects to produce high-end spinning systems. These systems will influence the development of innovative fancy yarns with designer effects, which find potential application in premium clothing and interior furnishing.
Availability and volatility of raw materials have a significant impact on operating margins. Unpredictable raw material prices can lead the fluctuation in fancy yarn selling prices. The trade war between the U.S. and China has also had an extensive impact on the macroeconomic environment of the industry. These factors are likely to hinder the growth of the fancy yarn market during the forecast period.
Fancy Yarn Market: Key Segments
The global fancy yarn market has been segmented based on product type, fiber, price range, end use, distribution channel, and region
Based on product type, the global fancy yarn market has been classified into spiral yarn, gimp yarn, loop yarn, snarl yarn, knob yarn, slub yarn, and others
In terms of fiber, the market has been divided into cotton, wool, silk, polyester, rayon, and others
Based on price range, the market has been classified into low, medium, and high
In terms of end use, the global fancy yarn market has been categorized into fashion clothing, knitwear, ties, furnishings, curtains, upholstery, and others
In terms of distribution channel, the global fancy yarn market has been bifurcated into online and offline
Based on region, the global fancy yarn market has been divided into North America (U.S., Canada, and Rest of North America), Europe (U.K., Germany, France, and Rest of Europe), Asia Pacific (China, India, Japan, and Rest of Asia Pacific), Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa), and South America (Brazil and Rest of South America)
Fancy Yarn Market: Competition Landscape
Competition in the global fancy yarn market is very high. A large number of small- and large-scale manufacturers are present in the market. Companies are following various strategies to increase their market share through mergers & acquisitions, and innovations and developments.
Key players operating in the fancy yarn market are –
Filpucci Spa
Filati G.B. Srl
Ipeks Tekstil
Jiangyin Huayi Yarn Co., ltd
Laxtons Limited
Siyaram’s Silk Mills Limited
Sutlej Textiles and Industries Limited
Kongkiat Textile Co ltd
Winning Textile Co Ltd.
Softech Controls Pvt. Ltd.
PinterCaipo
Skaat Machine Works India Pvt. Ltd.
Saurer AG
Rieter, etc.
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