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Europe Accounted For $18 Billion In Yarn, Fiber And Thread Manufacturing Market In 2016

Jun 15, 2017 (M2 PRESSWIRE via COMTEX) --

The fiber, yarn, and thread mills market primarily engages in the manufacturing and marketing of spinning yarn from fibers; manufacturing of threads for sewing, crocheting, embroidery, and other applications. Some of the key products include animal fiber yarn, spooling, twisting and winding purchased yarn, Beaming yarn Carpet and rug yarn, spinning Cotton spun yarn, Crochet spun yarns, purchased fiber Embroidery spun yarns, purchased fibers Hemp bags and ropes, Knitting yarn, Paper yarn, Spooling yarn, and purchased yarn Wool yarn.

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Europe was the third largest region accounting for $18 billion or 7.3% market share.

The global yarn, fiber and thread manufacturing market is expected to grow from $258 billion in 2016 to $366 billion in 2020 at a compound annual growth rate (CAGR) of 9.1%.

Regular yarn, fiber and thread was the largest segment in the yarn, fiber and thread manufacturing market with a 78.6% share of the market.

Special yarn, fiber and thread was the second largest segment in the yarn, fiber and thread manufacturing market with a 21.3% share of the market.

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Two most recent and important deals in the yarn, fiber and thread manufacturing market were executed by PVH Corp and West Rock Company.

In February 2013, Phillips Van-Heusen has acquired The Warnaco Group for $2.9 billion to become the world's largest branded apparel company. The Warnaco Group was founded in 1874 in the United States and is a textile corporation that designed, sourced, marketed, licensed and distributed a range of underwear, sportswear and swimwear. Its products are now sold under the brand name of Calvin Klein, Chaps, Speedo and more.

In August 2015, West Rock Company entered into an agreement to acquire SP Fiber Holdings, a manufacturer of recycled containerboard and Kraft and bag paper with mills for $288.5 million. In addition to this, West Rock will also acquire 48% shares interest in Green Power Solutions of Georgia, a Joint Venture that will supply power to paper mill in Dublin, US.

The trend, players in the yarn, fiber and thread manufacturing industry should follow to outperform their competitors is following:

The textile industry has been shifting from labor intensive manufacturing processes to automated production facilities. Automation has enabled textile manufacturing companies to enhance productivity and reduce production costs. According to a report by Boston Consulting Group (BCG) in 2015, 1.2 million industrial robots are expected to be deployed by 2025, thus indicating increased automation and robotics technology adoption. For instance, Software Automation Inc. introduced a new approach to sewing automation. The company implemented computer vision systems to eliminate fabric distortion issues where a camera is used to track stitching at needle and also coordinates the movement of the fabric using light weight robots.

Yarn, fiber and thread manufacturing companies should consider adopting robotics and automation in their production process to reduce production costs and enhance product quality.

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