Hong Kong SAR, China - Sewing Thread Of Man-Made Filaments Or Staple Fibers - Market Analysis, Forecast, Size, Trends and Insights
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View PricingHong Kong Witnesses a Decline in Sewing Thread Exports, Falling to $44M in 2023
Hong Kong Sewing Thread Exports
In 2023, sewing thread exports from Hong Kong contracted significantly to 3K tons, which is down by -36.1% against the previous year. Over the period under review, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 22% against the previous year. Over the period under review, the exports attained the peak figure at 11K tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.
In value terms, sewing thread exports shrank sharply to $44M (IndexBox estimates) in 2023. In general, exports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by 30% against the previous year. Over the period under review, the exports reached the maximum at $112M in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.
| COUNTRY | Export Value of Sewing Thread in Hong Kong (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Vietnam | 20.9 | 20.9 | 23.4 | 24.9 | 29.4 | 30.9 | 33.3 | 24.0 | 29.3 | 20.0 | 13.1 |
| Cambodia | 21.3 | 16.7 | 15.8 | 15.7 | 16.6 | 20.1 | 22.9 | 19.7 | 25.6 | 17.6 | 11.8 |
| China | 40.9 | 36.6 | 32.2 | 27.9 | 24.6 | 22.9 | 15.4 | 8.6 | 10.6 | 4.8 | 3.0 |
| Jordan | 2.6 | 3.6 | 3.7 | 3.3 | 3.6 | 4.6 | 4.6 | 2.3 | 3.4 | 3.3 | 2.7 |
| Bangladesh | 6.8 | 9.0 | 9.2 | 8.9 | 7.5 | 6.1 | 5.2 | 3.8 | 4.4 | 3.3 | 2.6 |
| Philippines | 2.7 | 2.0 | 1.4 | 4.1 | 4.4 | 4.1 | 3.3 | 2.1 | 7.0 | 6.3 | 2.5 |
| Indonesia | 3.3 | 4.0 | 3.7 | 3.8 | 3.4 | 2.8 | 2.8 | 1.6 | 4.2 | 3.0 | 1.5 |
| Others | 13.6 | 13.6 | 14.4 | 15.1 | 16.6 | 15.5 | 14.3 | 11.2 | 10.8 | 8.9 | 6.9 |
| Total | 112 | 107 | 104 | 104 | 106 | 107 | 102 | 73.2 | 95.3 | 67.2 | 44.0 |
Exports by Country
Vietnam (925 tons), Cambodia (782 tons) and Jordan (184 tons) were the main destinations of sewing thread exports from Hong Kong, together comprising 64% of total exports.
From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Jordan (with a CAGR of -1.0%), while the other leaders experienced a decline.
In value terms, the largest markets for sewing thread exported from Hong Kong were Vietnam ($13M), Cambodia ($12M) and China ($3M), together accounting for 63% of total exports. Jordan, Bangladesh, the Philippines and Indonesia lagged somewhat behind, together comprising a further 21%.
In terms of the main countries of destination, Jordan, with a CAGR of +0.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.
Exports by Type
Sewing thread of man-made staple fibres, whether or not put up for retail sale (1.7K tons) and sewing thread of man-made filaments, whether or not put up for retail sale (1.2K tons) were the main products of sewing thread exports from Hong Kong.
From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by sewing thread of man-made filaments, whether or not put up for retail sale (with a CAGR of -8.7%).
In value terms, sewing thread of man-made filaments, whether or not put up for retail sale ($26M) and sewing thread of man-made staple fibres, whether or not put up for retail sale ($18M) constituted the most exported types of sewing thread of man-made filaments or staple fibers from Hong Kong worldwide.
Sewing thread of man-made filaments, whether or not put up for retail sale, with a CAGR of -5.5%, recorded the highest rates of growth with regard to the value of exports, among the main product categories over the period under review.
Export Prices by Country
In 2023, the sewing thread price stood at $14,797 per ton (FOB, Hong Kong), increasing by 2.4% against the previous year. Over the period from 2013 to 2023, it increased at an average annual rate of +3.2%. The growth pace was the most rapid in 2022 an increase of 16% against the previous year. Over the period under review, the average export prices reached the peak figure in 2023 and is expected to retain growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($18,272 per ton), while the average price for exports to Lesotho ($5,404 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.
This report provides an in-depth analysis of the sewing thread market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 13108510 - Sewing thread of man-made filaments
- Prodcom 13108550 - Sewing thread of man-made staple fibres
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
