Asia: Sewing Thread Market 2024

Sewing Thread Market Size in Asia

The Asian sewing thread market declined to $X in 2022, shrinking by -5.7% against the previous year. Overall, consumption recorded a slight shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Sewing Thread Production in Asia

In value terms, sewing thread production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 11%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Sewing Thread Exports

Exports in Asia

In 2022, approx. X tons of sewing thread of man-made filaments or staple fibers were exported in Asia; with an increase of 5.1% against 2021. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 17% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, sewing thread exports reached $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 23% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China dominates exports structure, resulting at X tons, which was near 73% of total exports in 2022. Bangladesh (X tons) ranks second in terms of the total exports with a 5.1% share, followed by Vietnam (4.5%). Kyrgyzstan (X tons), Turkey (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sewing thread exports from China stood at -1.3%. At the same time, Kyrgyzstan (+91.6%), Vietnam (+17.8%), Bangladesh (+15.0%) and Turkey (+6.1%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +91.6% from 2012-2022. By contrast, Hong Kong SAR (-9.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Bangladesh, Kyrgyzstan and Vietnam increased by +3.9, +3.8 and +3.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest sewing thread supplier in Asia, comprising 67% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 5.3% share of total exports. It was followed by Hong Kong SAR, with a 5% share.

In China, sewing thread exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Bangladesh (+10.9% per year) and Hong Kong SAR (-4.7% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, falling by -2.4% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 13% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, 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 2022, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+5.4%), while the other leaders experienced more modest paces of growth.

Sewing Thread Imports

Imports in Asia

In 2022, the amount of sewing thread of man-made filaments or staple fibers imported in Asia rose slightly to X tons, growing by 2.4% against 2021 figures. 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 17% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, sewing thread imports dropped to $X in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 21%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the twelve major importers of sewing thread of man-made filaments or staple fibers, namely Vietnam, Bangladesh, Turkey, Indonesia, Myanmar, Kyrgyzstan, Cambodia, Pakistan, Hong Kong SAR, Iran, Uzbekistan and Thailand, represented more than two-thirds of total import. The United Arab Emirates (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Myanmar (with a CAGR of +36.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constitutes the largest market for imported sewing thread of man-made filaments or staple fibers in Asia, comprising 20% of total imports. The second position in the ranking was held by Cambodia ($X), with a 9% share of total imports. It was followed by Indonesia, with an 8.7% share.

In Vietnam, sewing thread imports increased at an average annual rate of +5.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Cambodia (+4.4% per year) and Indonesia (+5.2% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, shrinking by -4% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 5.3%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+14.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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