Cotton Sewing Thread Market

The global cotton sewing thread market is forecasted to see growth in both volume and value terms from 2022 to 2030, with a projected CAGR of +3.0% and +4.2% respectively. Russia leads in consumption and production, while China and Pakistan are key exporters. Import and export trends show fluctuations in prices and volumes across different product types and countries.

Market Forecast

Driven by increasing demand for cotton sewing thread worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market volume to 534K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.2% for the period from 2022 to 2030, which is projected to bring the market value to $5.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Cotton Sewing Thread

In 2022, the amount of cotton sewing thread consumed worldwide declined slightly to 421K tons, shrinking by -3% compared with the year before. The total consumption volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak volume of 480K tons. From 2018 to 2022, the growth of the global consumption remained at a somewhat lower figure.

The global cotton sewing thread market size rose modestly to $4B in 2022, growing by 1.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level of $4.8B. From 2018 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

Russia (129K tons) constituted the country with the largest volume of cotton sewing thread consumption, accounting for 31% of total volume. Moreover, cotton sewing thread consumption in Russia exceeded the figures recorded by the second-largest consumer, China (51K tons), threefold. Vietnam (50K tons) ranked third in terms of total consumption with a 12% share.

In Russia, cotton sewing thread consumption shrank by an average annual rate of -2.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+4.1% per year) and Vietnam (+6.0% per year).

In value terms, Russia ($1.4B) led the market, alone. The second position in the ranking was held by the United States ($349M). It was followed by Turkey.

In Russia, the cotton sewing thread market declined by an average annual rate of -1.7% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: the United States (+10.3% per year) and Turkey (+5.8% per year).

The countries with the highest levels of cotton sewing thread per capita consumption in 2022 were Russia (895 kg per 1000 persons), Vietnam (509 kg per 1000 persons) and the United States (102 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by the United States (with a CAGR of +10.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Cotton Sewing Thread

In 2022, approx. 418K tons of cotton sewing thread were produced worldwide; waning by -1.9% compared with 2021 figures. The total output volume increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 10% against the previous year. Global production peaked at 457K tons in 2017; however, from 2018 to 2022, production failed to regain momentum.

In value terms, cotton sewing thread production fell slightly to $3.7B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 41% against the previous year. Over the period under review, global production hit record highs at $5.5B in 2017; however, from 2018 to 2022, production remained at a lower figure.

Production By Country

Russia (129K tons) remains the largest cotton sewing thread producing country worldwide, accounting for 31% of total volume. Moreover, cotton sewing thread production in Russia exceeded the figures recorded by the second-largest producer, China (55K tons), twofold. Vietnam (50K tons) ranked third in terms of total production with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Russia totaled -2.1%. In the other countries, the average annual rates were as follows: China (+3.3% per year) and Vietnam (+6.2% per year).

Imports

World Imports of Cotton Sewing Thread

In 2022, the amount of cotton sewing thread imported worldwide fell rapidly to 20K tons, which is down by -22.5% on 2021. Over the period under review, imports continue to indicate a perceptible shrinkage. The growth pace was the most rapid in 2017 when imports increased by 37% against the previous year. Over the period under review, global imports attained the peak figure at 46K tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, cotton sewing thread imports dropped to $134M in 2022. In general, imports continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 29% against the previous year. Global imports peaked at $260M in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports By Country

The countries with the highest levels of cotton sewing thread imports in 2022 were the Dominican Republic (2K tons), Myanmar (1.9K tons), Spain (1.4K tons) and Guatemala (1.2K tons), together finishing at 32% of total import. The following importers - Lao People's Democratic Republic (573 tons), Malaysia (563 tons), the United States (542 tons), Nigeria (473 tons), Burkina Faso (469 tons), Italy (442 tons), Lesotho (382 tons), Gambia (363 tons) and Indonesia (332 tons) - together made up 20% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Myanmar (with a CAGR of +39.7%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest cotton sewing thread importing markets worldwide were Guatemala ($9.7M), the Dominican Republic ($9.4M) and the United States ($8.2M), together accounting for 20% of global imports. Myanmar, Lao People's Democratic Republic, Italy, Indonesia, Spain, Lesotho, Malaysia, Nigeria, Burkina Faso and Gambia lagged somewhat behind, together accounting for a further 21%.

Myanmar, with a CAGR of +29.1%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

Cotton; sewing thread, containing less than 85% by weight of cotton, not put up for retail sale (7.3K tons) and cotton; sewing thread, put up for retail sale (7.2K tons) were the key types of cotton sewing thread in 2022, accounting for approx. 36% and 36% of total imports, respectively. It was distantly followed by cotton; sewing thread, containing 85% or more by weight of cotton, not put up for retail sale (5.6K tons), making up a 28% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main imported products, was attained by cotton; sewing thread, put up for retail sale (with a CAGR of -3.3%), while imports for the other products experienced a decline in the imports figures.

In value terms, cotton; sewing thread, put up for retail sale ($53M), cotton; sewing thread, containing 85% or more by weight of cotton, not put up for retail sale ($47M) and cotton; sewing thread, containing less than 85% by weight of cotton, not put up for retail sale ($34M) appeared to be the products with the highest levels of imports in 2022, together accounting for 99.9% of global imports.

Among the main imported products, cotton; sewing thread, put up for retail sale, with a CAGR of -1.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other products experienced a decline in the imports figures.

Import Prices By Type

In 2022, the average cotton sewing thread import price amounted to $6,561 per ton, growing by 14% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 18%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was cotton; sewing thread, containing 85% or more by weight of cotton, not put up for retail sale ($8,489 per ton), while the price for cotton; sewing thread, containing less than 85% by weight of cotton, not put up for retail sale ($4,733 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by cotton; sewing thread, put up for retail sale (+2.1%), while the other products experienced a decline in the import price figures.

Import Prices By Country

The average cotton sewing thread import price stood at $6,561 per ton in 2022, rising by 14% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 18% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($15,048 per ton), while Gambia ($554 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+9.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Cotton Sewing Thread

In 2022, shipments abroad of cotton sewing thread decreased by -4.3% to 18K tons, falling for the third consecutive year after two years of growth. Overall, exports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 38%. The global exports peaked at 37K tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, cotton sewing thread exports contracted to $124M in 2022. Over the period under review, exports recorded a pronounced decrease. The pace of growth was the most pronounced in 2018 when exports increased by 22%. The global exports peaked at $222M in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports By Country

In 2022, China (4K tons) and Pakistan (2.9K tons) represented the key exporters of cotton sewing threadacross the globe, together amounting to approx. 39% of total exports. India (1.6K tons) took a 9.1% share (based on physical terms) of total exports, which put it in second place, followed by Germany (8.5%). The following exporters - Thailand (522 tons), Malawi (511 tons), South Africa (502 tons), Turkey (444 tons), Egypt (443 tons), Italy (420 tons), Mexico (406 tons), the United States (383 tons) and Honduras (350 tons) - together made up 22% of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +17.8%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($28M), India ($16M) and Pakistan ($8.6M) appeared to be the countries with the highest levels of exports in 2022, with a combined 43% share of global exports. Italy, Egypt, Germany, the United States, Turkey, Mexico, Honduras, Thailand, South Africa and Malawi lagged somewhat behind, together accounting for a further 29%.

Among the main exporting countries, Thailand, with a CAGR of +13.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Cotton; sewing thread, containing 85% or more by weight of cotton, not put up for retail sale (6.9K tons) and cotton; sewing thread, put up for retail sale (5.2K tons) represented the major types of cotton sewing thread in 2022, resulting at near 44% and 33% of total exports, respectively. It was distantly followed by cotton; sewing thread, containing less than 85% by weight of cotton, not put up for retail sale (3.6K tons), creating a 23% share of total exports.

From 2012 to 2022, the biggest increases were recorded for cotton; sewing thread, put up for retail sale (with a CAGR of -3.2%), while shipments for the other products experienced a decline in the exports figures.

In value terms, the largest types of exported cotton sewing thread were cotton; sewing thread, containing 85% or more by weight of cotton, not put up for retail sale ($59M), cotton; sewing thread, put up for retail sale ($44M) and cotton; sewing thread, containing less than 85% by weight of cotton, not put up for retail sale ($20M).

Cotton; sewing thread, containing 85% or more by weight of cotton, not put up for retail sale, with a CAGR of -3.2%, saw the highest growth rate of the value of exports, among the main exported products over the period under review, while shipments for the other products experienced a decline in the exports figures.

Export Prices By Type

The average cotton sewing thread export price stood at $6,981 per ton in 2022, with a decrease of -3.4% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 18%. As a result, the export price reached the peak level of $7,418 per ton. From 2018 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by the product type; the product with the highest price was cotton; sewing thread, containing 85% or more by weight of cotton, not put up for retail sale ($8,566 per ton), while the average price for exports of cotton; sewing thread, containing less than 85% by weight of cotton, not put up for retail sale ($5,597 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by cotton; sewing thread, containing less than 85% by weight of cotton, not put up for retail sale (+2.4%), while the other products experienced mixed trends in the export price figures.

Export Prices By Country

In 2022, the average cotton sewing thread export price amounted to $6,981 per ton, falling by -3.4% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 18%. As a result, the export price reached the peak level of $7,418 per ton. From 2018 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($19,006 per ton), while Malawi ($563 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+17.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform