From 2013 to 2023, the woven fabrics of synthetic filament yarns market in Lithuania experienced fluctuating growth with significant increases until reaching a peak in 2020 at approximately 18.979 million square meters. However, a downward trend followed with volumes declining each year since 2021, concluding at 14.548 million square meters in 2023. Over the past two years, the market contracted noticeably, with year-on-year reductions of 6.42% and 6.88% in 2022 and 2023, respectively. The CAGR over the last five years reflects an average decline of 4.78% annually.
Future trends to watch for:
- Potential market recovery strategies and innovations within the synthetic yarn industry.
- The impact of environmental regulations and sustainable production methods.
- Fluctuations in raw material costs that could affect production volumes.
- Consumer demand changes due to global economic conditions and fashion trends.
