United Kingdom: Cotton Yarn Market 2024

Cotton Yarn Market Size in the UK

In 2022, the UK cotton yarn market was finally on the rise to reach $X after three years of decline. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Cotton Yarn Production in the UK

In value terms, cotton yarn production shrank sharply to $X in 2022 estimated in export price. Over the period under review, production, however, showed a strong expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 269% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Cotton Yarn Exports

Exports from the UK

In 2022, approx. X tons of cotton yarn were exported from the UK; reducing by -8% on 2021 figures. Overall, exports, however, showed buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 227% against the previous year. As a result, the exports reached the peak of X tons, and then shrank in the following year.

In value terms, cotton yarn exports shrank to $X in 2022. In general, exports, however, continue to indicate strong growth. The growth pace was the most rapid in 2021 with an increase of 133% against the previous year. As a result, the exports reached the peak of $X, and then shrank modestly in the following year.

Exports by Country

France (X tons), the United States (X tons) and Lithuania (X tons) were the main destinations of cotton yarn exports from the UK, with a combined 74% share of total exports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +92.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), France ($X) and Lithuania ($X) appeared to be the largest markets for cotton yarn exported from the UK worldwide, with a combined 89% share of total exports.

Among the main countries of destination, France, with a CAGR of +99.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cotton yarn export price stood at $X per ton in 2022, surging by 3.8% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by 64% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Yarn Imports

Imports into the UK

In 2022, purchases abroad of cotton yarn increased by 35% to X tons, rising for the second consecutive year after seven years of decline. Overall, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, cotton yarn imports skyrocketed to $X in 2022. In general, total imports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.6% against 2020 indices. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Turkey (X tons), Pakistan (X tons) and Spain (X tons) were the main suppliers of cotton yarn imports to the UK, with a combined 65% share of total imports. India, Egypt, China, Italy and Germany lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +7.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), Turkey ($X) and Pakistan ($X) constituted the largest cotton yarn suppliers to the UK, with a combined 49% share of total imports.

Egypt, with a CAGR of +15.4%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cotton yarn import price amounted to $X per ton, increasing by 6.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2014 an increase of 18%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Egypt ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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