Global Market Overview –Industrial Threads

  • China is the major producer of industrial threads, comprising of 56 percent of the global market share, due to high availability of primary raw material (synthetic fibers) required for thread production 
  • Top suppliers have manufacturing locations in Asia, due to low cost of production and raw material availability

industrial-threads-market-size

Global Trends

  • Threads are used in the upholstery industry, including automotive interiors, home furnishings, luggage and travel. This trend is increasing in North America and Western Europe, due to increase in quality demanding customers 
  • Economic growth and rapid urbanization in South American regions drive the demand for high-quality threads
  • APAC is the major producer of industrial threads, due to high availability of primary raw material (synthetic fibers) required for thread production. Top suppliers have manufacturing locations in Asian countries, due to low cost of production and raw material availability, which drive local sourcing and more value-added services

Regional Market Outlook

  • The APAC will continue to dominate the market, in terms of global production and sales of threads by region 
  • China is the major producer of industrial threads, comprising of 56 percent of the global market share, due to high availability of primary raw material (synthetic fibers) required for thread production 

North America 

  • Global Production of Market Share: 11 percent
  • Global Sales Share of Thread: 11 percent 
  • Maturity of Suppliers: Medium 
  • Maturity of Buyers: Medium 
  • Current State: Suppliers manufacture through a combination of facilities they own and third-party arrangements often with foreign factories. Others rely entirely on arrangements with third-party suppliers, mostly in Asia.


Europe

  • Global Production of Market share: 17percent
  • Global Sales Share of Thread: 16 percent
  • Maturity of Suppliers: High 
  • Maturity of Buyers: Medium 
  • Current State: The more automated and technically sophisticated parts of the process, which requires high skill, has been retained in Europe. This had enabled the region to remain competitive

Global Drivers and Constraints 

Rapid urbanization, economic growth, and increase in customer awareness are driving the demand for superior quality thread production. The technological adoption differ with developed and emerging regions, which act as a constraint in sourcing operations to meet the specification for different geography

Drivers
Economic growth 

  • Consumer purchase for superior quality products and apparels have increased, due to which, demand for specialty threads has increased for leisure goods, automobile airbags, fast moving consumer goods (e.g., tea bags)

Urbanization 

  • Pace of urbanization in developing countries, like China, India, Brazil, Mexico, is increasing, due to which, consumer demanding more innovative quality products from suppliers

Awareness 

  • Increase in public sector spending by governments (public and military) and protective safety clothing (industry and military) are helping the demand for innovative and quality thread products

Constraints 
Technological adoption 

  • The quality and compliance (environmental, labor) of the product differ for developed regions (US and Western Europe) and emerging regions (e.g., India, China, Brazil), due to which, the sourcing operations differ with geographical regions 
  • New technologies, such as anti-microbial threads, fibre optic threads, composite technology threads are used more in the US and Western Europe markets than emerging markets