Asia: Sewing Thread Market 2024

Sewing Thread Market Size in Asia

The Asian sewing thread market stood at $X in 2023, therefore, remained relatively stable against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2021; afterwards, it flattened through to 2023.

Sewing Thread Production in Asia

In value terms, sewing thread production reached $X in 2023 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2021; afterwards, it flattened through to 2023.

Sewing Thread Exports

Exports in Asia

In 2023, overseas shipments of sewing thread of man-made filaments or staple fibers decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, sewing thread exports reduced to $X in 2023. In general, exports showed a slight decrease. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

Exports by Country

China represented the main exporting country with an export of around X tons, which reached X% of total exports. It was distantly followed by Kyrgyzstan (X tons), committing a X% share of total exports. The following exporters - Turkey (X tons) and Vietnam (X tons) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to sewing thread exports from China stood at X%. At the same time, Kyrgyzstan (X%), Vietnam (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. Kyrgyzstan (X p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest sewing thread supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2023, the average annual growth rate of value in China was relatively modest. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, which is down by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Sewing Thread Imports

Imports in Asia

In 2023, sewing thread imports in Asia contracted modestly to X tons, remaining relatively unchanged against the year before. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2023, imports failed to regain momentum.

In value terms, sewing thread imports reduced to $X in 2023. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

Vietnam (X tons), Bangladesh (X tons), Indonesia (X tons), Turkey (X tons), Cambodia (X tons), Myanmar (X tons), Kyrgyzstan (X tons), Pakistan (X tons), Iran (X tons), Uzbekistan (X tons), Kazakhstan (X tons) and the United Arab Emirates (X tons) represented roughly X% of total imports in 2023. Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Myanmar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sewing thread importing markets in Asia were Vietnam ($X), Cambodia ($X) and Bangladesh ($X), together accounting for X% of total imports. Turkey, Indonesia, Hong Kong SAR, Pakistan, the United Arab Emirates, Myanmar, Iran, Kyrgyzstan, Kazakhstan and Uzbekistan lagged somewhat behind, together comprising a further X%.

Kyrgyzstan, with a CAGR of X%, saw 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 leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2017 to 2023, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform