Global industrial threads market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. The thread is a firmly twisted strand of two or more plies of yarn that is circular. Almost all-sewing thread that is manufactured is used in industrial and commercial sewing. It is exclusively used for sewing on heavy-duty materials like duck cloth, canvas, vinyl, and leather. The threads need to be strong and can handle the friction at the needle when sewing at high speed. Bonded Nylon is a well-known industrial thread that is exclusively used for semi-commercial and commercial sewing applications.
The factors that are playing a major role in the growth of the market are the economic growth, the growing demand for innovative and quality thread products, and the growing urbanization in developing countries. However, the presence of alternatives and acceptance of new technologies like composite technology thread and anti-microbial threads may restrain overall market growth in the years to come. Industrial threads market is segmented based on type, application, and region.
Leather and heavy-duty threads, cut and sew/apparel threads, and specialty threads are the types that could be explored in industrial threads market in the forecast period. Leather and heavy-duty threads sector comprise bonded polyester and bonded nylon threads. Whereas, specialty threads comprise vanish, superior low melt, and monopoly thread.
The market could be categorized based on applications into government and military spec., automotive, medical orthopedic device, filter manufacturing, heavy-duty materials, lifting slings, safety harness, and others could be explored in industrial threads in the forecast period. Globally, Asia Pacific accounted for the substantial market share of industrial threads and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the rising use of advanced technology, easily available raw material, low cost of production, and the presence of key manufacturers in the region. China is a key producer of industrial threads in this region. The reason could be the easily available primary raw material like synthetic fiber required for the production of thread.
Europe and North America are also estimated to have a positive influence on future growth. North America is the second largest region with significant market share. The United States is a major consumer of industrial threads in this region. However, Europe is estimated to grow at the highest CAGR in the forecast period. The reason could be the growth in quality demanding customers.
The key players of the industrial threads market are Champion Thread Company, Coats Group Plc., Empress Mills, American & Efrid Inc. (A&E), Fil-Tec Inc., Dupont, Somac Threads, Service Thread, and Amann Group. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
Research Support Specialist, USA