Hemp Spinning Market - Forecast(2024 - 2030)

Hemp Spinning Market Overview

Hemp Spinning market size is forecasted to reach a value of US$1.3 billion by the end of 2027 after growing at a CAGR of 28% during the forecast period 2022-2027. The spinning process efficiently blends the hemp with other materials such as polylactide, polypropylene, glass fiber and lignin, which results in superior material durability. The hemp spinning process is crucial because hemp yarn is generated in two types namely long yarn and short yarn, each of which has a different application area. The growth of the hemp spinning market is driven by the growth of the textile and apparel industry. Moreover, the growth of the paper and pulp industry is projected to expand the demand for hemp spinning. This, in turn, will fuel the market growth in the projected forecast period of 2022 to 2027.

COVID-19 Impact 

The Covid-19 pandemic negatively impacted the growth of the hemp spinning market in 2020. The major restrictions related to production activities, labor movement and other such factors hampered the industrial production activities. As a result, the demand for hemp spinning machines declined, which restricted the growth of the market. However, in 2021, new projects associated with textiles, pulp & paper and more were commenced. For instance, in 2021, a new textile project was announced to construct a new yarn manufacturing unit in Madhya Pradesh, India. Likewise in other parts of the world, there was a surge in the development of new textile projects, which resulted in the growth in the demand for hemp spinning, thereby, fueling the growth of the market. Moreover, in the upcoming years, the impact of the Covid-19 pandemic will be phased out. This will ensure the growth of the hemp spinning industry similar to the pre-Covid time. 

Report Coverage 

The "Hemp Spinning Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments in the Hemp Spinning Market. 

By Process: Wet Spinning and Dry Spinning.
By End-use Industry: Textiles and Apparels (Specialty, Sports, Casual, Protective, Others), Footwear (Casual, Sports and Military), Paper and Pulp, Building and Construction (Residential and Commercial), Home Furnishing (Sofa, Pillow, Curtains, Carpets and Others) and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World [Middle East (Saudi Arabia, UAE, Israel and Rest of Middle East) and Africa (South Africa, Nigeria and Rest of Africa)].

Key Takeaways 

The dry process segment held a significant share in the hemp spinning market in 2021 and is forecasted to grow at a CAGR of 24.3% during the forecast period 2022-2027. Dry spinning is a process widely used in hemp spinning because in comparison with wet spinning the wastage of water and chemicals is less. Furthermore, dry spinning produces yarn at a lower cost due to the coarser appearance and handle of the dry spun yarn compared to wet spun yarn. In addition to this, the bulk manufacturing of textiles can be achieved with the use of a dry process. Thus, the above-mentioned factors are resulting in the surging adoption of the dry process, which is benefiting the segmental growth of the dry process hemp spinning market. 

Hemp Spinning Market Segment Analysis – by End-use Industry 

The textile and apparel segment held a significant share in the hemp spinning market in 2021 and is forecasted to grow at a CAGR of 32.1% during the forecast period 2022-2027. In the textiles and apparel industry hemp spinning is utilized for the manufacturing of specialty apparel, sports apparel and more because hemp spinning ensures increased production at minimal time. To promote sustainable growth, modernization, value addition, increased exports and general development of the textile sector, federal governments all over the world are implementing steps, which is resulting in the growth of the textile industry. For instance, the European Union 2030 Vision for Textiles strategy intends to make the textile industry greener, more competitive and more resilient to global shocks. Hence, such government initiatives are expected to boost the demand for hemp spinning, which, in turn, will accelerate the market growth in the projected forecast period.

Hemp Spinning Market Segment Analysis – by Geography 

Asia-Pacific region is the dominating region as it holds the largest share in the hemp spinning market in 2021 up to 49%. The economic growth of the Asia-Pacific region is driven by the growth of the industries such as textile, paper and pulp and more. The factors such as surging demand for appeals, government initiative and more towards the textile sector is expanding the growth of the textile and apparel industry in the Asia-Pacific region. For instance, the Indian government recently proposed a Textile Processing Project in Maharashtra totaling INR 905 million (US$12.2 million) in 2021. Moreover, in 2019, the Ministry of International Trade and Industry, in collaboration with the Federation of Malaysian Fashion, Textiles and Apparels (FMFTA) and the Malaysian Investment Development Authority (MIDA), proposed the establishment of the first textile manufacturing center to revitalize the industry. Therefore, the growth of the textile industry in Asia-Pacific is projected to aid the growth of the hemp sipping market in upcoming years.