ASEAN: Cotton Sewing Thread Market 2024

Cotton Sewing Thread Market Size in ASEAN

The ASEAN cotton sewing thread market was estimated at $X in 2021, increasing by 3.5% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -7.7% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Cotton Sewing Thread Production in ASEAN

In value terms, cotton sewing thread production skyrocketed to $X in 2021 estimated in export price. In general, production, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2019 when the production volume increased by 110% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Cotton Sewing Thread Exports

Exports in ASEAN

In 2021, shipments abroad of cotton sewing thread increased by 11% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, exports continue to indicate a tangible increase. The pace of growth appeared the most rapid in 2013 with an increase of 1,619%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, cotton sewing thread exports shrank modestly to $X in 2021. Overall, exports recorded buoyant growth. The pace of growth was the most pronounced in 2013 when exports increased by 1,012%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand was the key exporter of cotton sewing thread in ASEAN, with the volume of exports recording X tons, which was near 40% of total exports in 2021. Vietnam (X tons) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (15%), Indonesia (14%) and Malaysia (9.7%). The following exporters - Cambodia (X tons) and the Philippines (X tons) - each finished at a 3.6% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to cotton sewing thread exports from Thailand stood at +4.7%. At the same time, Vietnam (+25.3%), Singapore (+11.7%), the Philippines (+4.5%) and Malaysia (+1.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +25.3% from 2012-2021. By contrast, Indonesia (-3.0%) and Cambodia (-3.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam and Singapore increased by +14 and +6.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest cotton sewing thread supplier in ASEAN, comprising 45% of total exports. The second position in the ranking was held by Singapore ($X), with a 19% share of total exports. It was followed by Vietnam, with an 18% share.

In Thailand, cotton sewing thread exports expanded at an average annual rate of +10.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Singapore (-1.7% per year) and Vietnam (+25.1% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, declining by -11.9% against the previous year. Over the period under review, the export price, however, posted mild growth. The growth pace was the most rapid in 2016 when the export price increased by 52% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+10.2%), while the other leaders experienced more modest paces of growth.

Cotton Sewing Thread Imports

Imports in ASEAN

Cotton sewing thread imports declined sharply to X tons in 2021, with a decrease of -20.7% against 2020 figures. Over the period under review, imports saw a noticeable slump. The most prominent rate of growth was recorded in 2014 with an increase of 37% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, cotton sewing thread imports reduced rapidly to $X in 2021. In general, imports continue to indicate a perceptible decline. The pace of growth appeared the most rapid in 2014 when imports increased by 51%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Lao People's Democratic Republic (X tons), Myanmar (X tons), the Philippines (X tons), Malaysia (X tons), Vietnam (X tons), Cambodia (X tons) and Indonesia (X tons) was the key importer of cotton sewing thread in ASEAN, committing 97% of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Myanmar (with a CAGR of +27.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Lao People's Democratic Republic ($X) constitutes the largest market for imported cotton sewing thread in ASEAN, comprising 35% of total imports. The second position in the ranking was held by the Philippines ($X), with a 15% share of total imports. It was followed by Indonesia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Lao People's Democratic Republic stood at +23.8%. In the other countries, the average annual rates were as follows: the Philippines (+21.3% per year) and Indonesia (-14.9% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, declining by -2.1% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 10%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+9.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform