CHICAGO, Dec. 15, 2020 /PRNewsCentre/ — In-depth analysis and data-driven insights on the impact of COVID-19 included in this global industrial sewing thread market report.
The global industrial sewing thread market is expected to grow at a CAGR of over 4% during the period 2020−2026.
Key Highlights Offered in the Report:
1. The global industrial sewing thread market would realize an absolute growth of around 30% with incremental revenue of over USD 953 thousand between 2020 and 2026.
2. Rising demand for apparel and footwear is driving the market for synthetic industrial sewing thread, which is expected to reach around USD 2,815 thousand by 2026 registering an incremental revenue of USD 675 thousand between 2021 and 2026.
3. Registering a high growth CAGR of approximately 5% between 2021-2026, the global market for apparel based industrial sewing thread will account for a major share with over 36% in 2021.
4. Sew and stich end-use market for industrial sewing thread is expected to record highest CAGR of over 4% with incremental revenue of around USD 793 thousand during forecast period.
5. The increase in use of textile in automotive industry is driving the market for industrial sewing thread for automobile end-user with recording CAGR of around 4% with incremental revenue of approximately USD 116 thousand during forecast period.
6. APAC recorded an absolute growth of around 30% for the forecast period, with revenues of over USD 1,723 thousand for 2020.
7. The demand for sewing threads in the quilting segment in Europe is expected to grow at a CAGR of over 4%, with incremental revenues of USD 9 thousand during the forecast period.
Key Offerings:
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Industrial Sewing Thread Market – Segmentation
Industrial Sewing Thread Market by Product
Industrial Sewing Thread Market by End-user
Industrial Sewing Thread Market by Application
Industrial Sewing Thread Market – Dynamics
The textile industry is considered a traditional sector, but with technological evolution, today, it is regarded as one of the major targets for new business strategies. This is helping companies reduce costs and innovate to build a competitive advantage. A promising business strategy is technical textile, which is enabling the sector to expand to a larger scale. Technical textile can be defined as textile used for functional applications in industries such as automobiles, civil engineering and construction, agriculture, medical, shipping, industrial safety, sports, personal protective equipment, and others. In addition to this, threads are an essential part of finished textile, and the sewing threads used in technical textile are made up of polyester, polypropylene, Nylon6, Nylon6.6, and other synthetic materials. These threads are used for high and low temperature applications. The production of technical textile requires large investments in developing specialized high-performance and modern production facilities. Major vendors manufacturing sewing threads across the globe are Amann, A&E, 3M, and Coats, among others.
Key Drivers and Trends fueling Market Growth:
Industrial Sewing Thread Market – Geography
North America became the largest supplier of safe garments and products due to strict state and local government laws and improved employee welfare in the industrial workplace. The growth of various end-users and their concern for the safety of workforces is expected to continue. In addition, local brands in the region, in terms of supply and distribution, will face challenges from established market vendors. With the high demand for PPE in the US, several small vendors have entered the marketplace, creating healthy competition. The demand for sewing threads is high in the US and Canada.
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Industrial Sewing Thread Market by Geography
Major Vendors
Other Prominent Vendors
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SOURCE: Arizton Advisory & Intelligence
