Cotton Fabric Market

The article provides a detailed analysis of the global cotton fabric market, including trends in consumption, production, imports, and exports. It presents forecasted growth rates, market volume projections, and value estimations up to the year 2030. The data highlights key players in the market, such as China, India, and the United States, along with their respective roles in consumption and production. Price fluctuations and average export/import prices are also discussed, offering insights into the market dynamics over the past decade.

Market Forecast

Driven by rising demand for cotton fabric worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market volume to 32B square meters by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.0% for the period from 2022 to 2030, which is projected to bring the market value to $81.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Woven Fabrics Of Cotton

In 2022, consumption of woven fabrics of cotton was finally on the rise to reach 29B square meters for the first time since 2016, thus ending a five-year declining trend. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Global consumption peaked at 32B square meters in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

The global cotton fabric market value expanded modestly to $59.4B in 2022, with an increase of 1.6% 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 +1.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level of $66.6B. From 2017 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (6.1B square meters), India (4B square meters) and the United States (2.6B square meters), together accounting for 45% of global consumption.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +14.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest cotton fabric markets worldwide were India ($17.7B), China ($9.8B) and the United States ($8.2B), together comprising 60% of the global market.

India, with a CAGR of +11.6%, saw the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of cotton fabric per capita consumption in 2022 were Mali (20 square meters per person), Bangladesh (12 square meters per person) and Vietnam (9.5 square meters per person).

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +13.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Woven Fabrics Of Cotton

Global cotton fabric production was estimated at 30B square meters in 2022, stabilizing at the previous year. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 15% against the previous year. Over the period under review, global production reached the maximum volume at 35B square meters in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

In value terms, cotton fabric production reduced to $62.9B in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 18%. Over the period under review, global production attained the peak level at $96.3B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (14B square meters) remains the largest cotton fabric producing country worldwide, comprising approx. 46% of total volume. Moreover, cotton fabric production in China exceeded the figures recorded by the second-largest producer, India (5B square meters), threefold. Pakistan (2.6B square meters) ranked third in terms of total production with an 8.7% share.

In China, cotton fabric production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+16.3% per year) and Pakistan (+8.9% per year).

Imports

World Imports of Woven Fabrics Of Cotton

In 2022, supplies from abroad of woven fabrics of cotton increased by 3% to 13B square meters, rising for the second year in a row after two years of decline. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by 16% against the previous year. As a result, imports attained the peak of 15B square meters. From 2014 to 2022, the growth of global imports remained at a lower figure.

In value terms, cotton fabric imports rose significantly to $21.2B in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 23% against the previous year. Global imports peaked at $25.1B in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, Bangladesh (2B square meters), distantly followed by Vietnam (1.1B square meters) were the main importers of woven fabrics of cotton, together committing 23% of total imports. The following importers - Italy (542M square meters), the United States (534M square meters), Mali (430M square meters), Indonesia (427M square meters), Cambodia (357M square meters), Turkey (352M square meters), South Korea (328M square meters), Sri Lanka (266M square meters), Germany (250M square meters), Russia (241M square meters) and Spain (239M square meters) - together made up 30% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cambodia (with a CAGR of +9.0%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Bangladesh ($3.8B), Vietnam ($2B) and Italy ($778M) constituted the countries with the highest levels of imports in 2022, with a combined 31% share of global imports. Indonesia, Cambodia, the United States, Sri Lanka, Turkey, Germany, Spain, South Korea, Russia and Mali lagged somewhat behind, together accounting for a further 24%.

Cambodia, with a CAGR of +11.1%, recorded the highest growth rate of the value of imports, in terms of 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

Woven fabrics of cotton, containing 85% or more by weight of cotton, weighing not more than 200 g/m2 represented the key type of woven fabrics of cotton in the world, with the volume of imports accounting for 7.4B square meters, which was near 56% of total imports in 2022. Woven fabrics of cotton, containing 85% or more by weight of cotton, weighing more than 200g/m2 (2.8B square meters) ranks second in terms of the total imports with a 21% share, followed by woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing more than 200g/m2 (12%) and woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing not more than 200 g/m2 (8.7%). Other woven fabrics of cotton, n.e.s. in chapter 52 (275M square meters) held a minor share of total imports.

Imports of woven fabrics of cotton, containing 85% or more by weight of cotton, weighing not more than 200 g/m2 decreased at an average annual rate of -2.1% from 2012 to 2022. At the same time, woven fabrics of cotton, containing 85% or more by weight of cotton, weighing more than 200g/m2 (+6.9%) and woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing more than 200g/m2 (+6.0%) displayed positive paces of growth. Moreover, woven fabrics of cotton, containing 85% or more by weight of cotton, weighing more than 200g/m2 emerged as the fastest-growing type imported in the world, with a CAGR of +6.9% from 2012-2022. Woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing not more than 200 g/m2 experienced a relatively flat trend pattern. By contrast, other woven fabrics of cotton, n.e.s. in chapter 52 (-3.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of woven fabrics of cotton, containing 85% or more by weight of cotton, weighing more than 200g/m2 and woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing more than 200g/m2 increased by +10 and +5.1 percentage points, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, the largest types of imported woven fabrics of cotton were woven fabrics of cotton, containing 85% or more by weight of cotton, weighing not more than 200 g/m2 ($8.9B), woven fabrics of cotton, containing 85% or more by weight of cotton, weighing more than 200g/m2 ($6.6B) and woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing more than 200g/m2 ($3.5B), with a combined 90% share of global imports.

In terms of the main imported products, woven fabrics of cotton, containing 85% or more by weight of cotton, weighing more than 200g/m2, with a CAGR of +6.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other products experienced mixed trends in the imports figures.

Import Prices By Type

The average cotton fabric import price stood at $1.6 per square meter in 2022, with an increase of 5.3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 14%. Global import price peaked at $1.8 per square meter in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was woven fabrics of cotton, containing 85% or more by weight of cotton, weighing more than 200g/m2 ($2.4 per square meter), while the price for woven fabrics of cotton, containing 85% or more by weight of cotton, weighing not more than 200 g/m2 ($1.2 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by other woven fabrics of cotton, n.e.s. in chapter 52 (-0.6%), while the other products experienced a decline in the import price figures.

Import Prices By Country

In 2022, the average cotton fabric import price amounted to $1.6 per square meter, growing by 5.3% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 14% against the previous year. Global import price peaked at $1.8 per square meter in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sri Lanka ($2.2 per square meter), while Mali ($0.5 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+6.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Woven Fabrics Of Cotton

Global cotton fabric exports amounted to 15B square meters in 2022, surging by 1.7% on the year before. The total export volume increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when exports increased by 35% against the previous year. Over the period under review, the global exports attained the peak figure at 17B square meters in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, cotton fabric exports declined slightly to $25.1B in 2022. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 41%. As a result, the exports attained the peak of $32.3B. From 2014 to 2022, the growth of the global exports failed to regain momentum.

Exports By Country

In 2022, China (8B square meters) was the largest exporter of woven fabrics of cotton, generating 54% of total exports. Pakistan (2B square meters) took the second position in the ranking, followed by India (1.1B square meters). All these countries together took approx. 21% share of total exports. Turkey (541M square meters), Italy (256M square meters) and Germany (226M square meters) held a minor share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of woven fabrics of cotton. At the same time, Pakistan (+25.9%), India (+25.0%) and Turkey (+1.7%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in the world, with a CAGR of +25.9% from 2012-2022. Italy experienced a relatively flat trend pattern. By contrast, Germany (-1.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Pakistan and India increased by +12 and +6.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($11.8B) remains the largest cotton fabric supplier worldwide, comprising 47% of global exports. The second position in the ranking was held by Pakistan ($2.3B), with a 9.3% share of global exports. It was followed by India, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +1.4%. In the other countries, the average annual rates were as follows: Pakistan (+4.4% per year) and India (+7.7% per year).

Exports By Type

Woven fabrics of cotton, containing 85% or more by weight of cotton, weighing not more than 200 g/m2 represented the key exported product with an export of about 8.2B square meters, which resulted at 57% of total exports. Woven fabrics of cotton, containing 85% or more by weight of cotton, weighing more than 200g/m2 (2.7B square meters) held the second position in the ranking, followed by woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing more than 200g/m2 (1.9B square meters) and woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing not more than 200 g/m2 (1.2B square meters). All these products together took approx. 41% share of total exports. Other woven fabrics of cotton, n.e.s. in chapter 52 (240M square meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to woven fabrics of cotton, containing 85% or more by weight of cotton, weighing not more than 200 g/m2 exports of stood at -1.0%. At the same time, woven fabrics of cotton, containing 85% or more by weight of cotton, weighing more than 200g/m2 (+15.5%), woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing more than 200g/m2 (+5.6%) and other woven fabrics of cotton, n.e.s. in chapter 52 (+3.2%) displayed positive paces of growth. Moreover, woven fabrics of cotton, containing 85% or more by weight of cotton, weighing more than 200g/m2 emerged as the fastest-growing type exported in the world, with a CAGR of +15.5% from 2012-2022. Woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing not more than 200 g/m2 experienced a relatively flat trend pattern. From 2012 to 2022, the share of woven fabrics of cotton, containing 85% or more by weight of cotton, weighing more than 200g/m2 and woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing more than 200g/m2 increased by +14 and +4.2 percentage points, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, woven fabrics of cotton, containing 85% or more by weight of cotton, weighing not more than 200 g/m2 ($11.6B), woven fabrics of cotton, containing 85% or more by weight of cotton, weighing more than 200g/m2 ($6.6B) and woven fabrics of cotton, containing less than 85% by weight of cotton, mixed mainly or solely with man-made fibres, weighing more than 200g/m2 ($4.2B) were the products with the highest levels of exports in 2022, with a combined 89% share of global exports.

Woven fabrics of cotton, containing 85% or more by weight of cotton, weighing more than 200g/m2, with a CAGR of +14.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exported products over the period under review, while shipments for the other products experienced mixed trends in the exports figures.

Export Prices By Type

The average cotton fabric export price stood at $1.7 per square meter in 2022, dropping by -2.3% against the previous year. In general, the export price saw a mild slump. The growth pace was the most rapid in 2018 an increase of 26%. Over the period under review, the average export prices reached the maximum at $2.3 per square meter in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the product type; the product with the highest price was other woven fabrics of cotton, n.e.s. in chapter 52 ($2.8 per square meter), while the average price for exports of woven fabrics of cotton, containing 85% or more by weight of cotton, weighing not more than 200 g/m2 ($1.4 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by woven fabrics of cotton, containing 85% or more by weight of cotton, weighing more than 200g/m2 (-0.9%), while the other products experienced a decline in the export price figures.

Export Prices By Country

In 2022, the average cotton fabric export price amounted to $1.7 per square meter, which is down by -2.3% against the previous year. Over the period under review, the export price continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2018 when the average export price increased by 26%. The global export price peaked at $2.3 per square meter in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($4 per square meter), while Pakistan ($1.2 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.9%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform