Industrial Threads Market Share, Sourcing Strategy and Downstream Buyers 2018-2021
28th February 2019 – 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.
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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.
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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.
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