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Yarn Lubricants Market By Product Type (Spin Finish, Coning Oil, Knitting Oil, Grease) By Application (Polyester, Acrylic, Cotton, Wool, Blends): Growth, Trends, Covid-19 Impact and Forecast 2015 - 2027

Market Insights

Yarn lubricants are beneficial in reducing friction during abrasion by forming a film on the yarn surface. Films formed by yarn lubricants on fibers and the metal surface are very helpful in lowering the friction considerably, thus improving the rewinding performance. Apart from this, yarn lubricants also provide uniformity during the dyeing, finishing, and pilling of yarns and fabrics. As a result, the global yarn lubricants market is likely to exhibit a steady recovery from COVID-19 and touch a valuation of USD 3,000 million by the end of the forecast period with a CAGR of over 5.3%. However, the market size was contracted to USD 2,200 million in 2020, with over a 15% decline compared to 2019.

Strong Growth of the Textile Industry

Textiles are the leading outlet for the growth of yarn lubricants. With robust demand for technical textiles, the demand for yarn lubricants is likely to increase at a rapid pace. Technical textile is increasingly popular among functional applications such as geotextiles, protective clothing, medical, automotive, etc. Technical textiles are manufactured to meet desired properties for respective application markets. Therefore, yarn lubricants are of critical importance in the technical textile industry to ensure sustainable production activities. Despite the COVID-19 pandemic outbreak across the world, the market size of the textile industry touched the gigantic valuation of USD 1 trillion in 2020. This is ultimately expected to mobilize the demand for yarn lubricants.

Environmental Concerns Associated with Yarn Lubricants

Yarn lubricants are mainly composed of mineral oils. Mineral oil-based lubricants are typically toxic in nature and cannot be readily degraded. If they leak into the heart, they can jeopardize the environment and have harmful consequences for wildlife, including plants, animals, and fish. It also has very adverse effects when human skin comes into contact with it. Yarn lubricants can cause skin irritation and a burning feeling. This, in turn, has invited considerably stringent regulation on the production, transport, and use of yarn lubricants. However, manufacturers are focusing on the development of green alternatives to mineral oil-based yarn lubricants.

Impact of COVID-19

The textile industry is one of the most severely impacted industries due to the COVID-19 situation. Several garment manufacturing units in China and various parts of the world stopped working due to COVID-19, unfavorably affecting the trade and distribution of fabric, yarn, and other materials. Owing to this disruption, it was observed that there was a 50% slowdown in demand and exports, affecting the spinning mills. Not only this but employment was also affected in Asian countries due to this lockdown. The Corona crisis severely affected international trade as most developed economies relied on developing countries, where trade flow and manufacturing almost stopped for about 3 to 4 months. However, with the speedy recovery of most economies, most of the infrastructure projects have resumed. This, in turn, is likely to restore the global yarn lubricant market to its pre-COVID-19 levels.

Asian economies drive textile production.

The Asia Pacific is the most dominant region, with a whopping 50% share in total consumption of yarn lubricants in 2020. China, India, South Korea, Vietnam, Taiwan, etc., and their huge production bases are ruling the textile world. Collectively, they hold over 60% of the total exports of textiles in the world. With its large installed capacity and production volume of textiles, the demand for yarn lubricants is also significantly high. The huge population, strong presence of the end-user industry, and abundance of raw materials in the region make it the most favorable destination for the textile industry and, thus, the highest consumer of yarn lubricants. Over the span of the analysis period, the demand for yarn lubricants is likely to be governed by the Asia Pacific and prominent economies pertaining to the region.

Coning Oil Product Type is the market leader in yarn lubricants.

In terms of product type, coning oil is estimated to be the fastest-growing segment of the global yarn lubricants market during the forecast period, as the oil provides excellent lubricity to filaments and reduces friction during operation. It reduces yarn-to-yarn and yarn-to-metal friction, which helps to avoid downtime and imperfections. Due to its anti-static property, coating oil is applied to the yarn to help lower the impact of static electricity on the yarn by improving its evacuation.

Polyester continues to dominate the global demand for yarn lubricants.

The global yarn lubricants market is segmented based on applications such as polyester, acrylic, wool, cotton, and blends. Most artificial fibers cannot be spun and processed without a spin finish due to frictions developed during the different production processes. Hence, they require lubricants to ease the manufacturing process and reduce friction.         

Focus on Achieving Organic Growth  

The global yarn lubricant market is highly fragmented, with a large number of players around the world. Key players are pursuing an organic growth strategy. As a result, extensive research and development, new product launches, expansion of capacity, as well as geographic reach via distribution agreements are at the core of their strategies. Innovative products can offer the manufacturers of yarn lubricants a leading edge over their rivals and win market share. However, Chinese manufacturers' low-cost products pose an important challenge to global manufacturers. Moreover, fluctuating raw material prices are also expected to affect industry participants' margins greatly.

Frequently asked questions :

The market for Yarn Lubricants Market is expected to reach USD$ 2,999 million in 2027.

The Yarn Lubricants Market is expected to see significant CAGR growth over the coming years, at 5.3% .

The report is forecasted from 2015 -2027.

The base year of this report is 2014.

Baxter International, GRIFOLS, S.A., Biotest, CSL Behring, Kedrion, Shire Plc., Octapharma USA, Inc., Telecris. are some of the major players in the global market.

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Published Date:  Apr 2021
Category:  Chemicals
Report ID:   60317
Report Format:   PDF
Pages:   120
Rating:    4.1 (68)
Delivery Time: 24 Hours to 48 Hours   
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