Australia: Sewing Thread Market 2024

Sewing Thread Market Size in Australia

In 2022, after two years of growth, there was significant decline in the Australian sewing thread market, when its value decreased by -26.5% to $X. Over the period under review, consumption continues to indicate a perceptible contraction. Over the period under review, the market attained the maximum level at $X in 2021, and then contracted notably in the following year.

Sewing Thread Exports

Exports from Australia

In 2022, approx. X tons of sewing thread of man-made filaments or staple fibers were exported from Australia; with a decrease of -4.2% compared with the previous year's figure. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by 631% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, sewing thread exports expanded remarkably to $X in 2022. In general, exports continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2019 when exports increased by 502% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Fiji (X tons), Malaysia (X tons) and Papua New Guinea (X tons) were the main destinations of sewing thread exports from Australia, with a combined 83% share of total exports. New Zealand and Sri Lanka lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sri Lanka (with a CAGR of +94.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sewing thread exported from Australia were Malaysia ($X), New Zealand ($X) and Papua New Guinea ($X), with a combined 69% share of total exports. Fiji and Sri Lanka lagged somewhat behind, together accounting for a further 21%.

In terms of the main countries of destination, Sri Lanka, with a CAGR of +117.1%, saw 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 sewing thread export price stood at $X per ton in 2022, picking up by 15% against the previous year. Overall, the export price, however, saw a pronounced curtailment. The growth pace was the most rapid in 2018 when the average export price increased by 79% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while the average price for exports to Fiji ($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 Sri Lanka (+11.4%), while the prices for the other major destinations experienced mixed trend patterns.

Sewing Thread Imports

Imports into Australia

In 2022, after two years of growth, there was significant decline in supplies from abroad of sewing thread of man-made filaments or staple fibers, when their volume decreased by -33.6% to X tons. Over the period under review, imports saw a perceptible setback. The most prominent rate of growth was recorded in 2020 when imports increased by 34%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, sewing thread imports fell dramatically to $X in 2022. In general, imports showed a mild setback. The most prominent rate of growth was recorded in 2020 when imports increased by 24%. Imports peaked at $X in 2021, and then shrank markedly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest sewing thread supplier to Australia, with a 48% share of total imports. Moreover, sewing thread imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+10.0% per year) and Germany (+0.5% per year).

In value terms, the largest sewing thread suppliers to Australia were China ($X), Germany ($X) and India ($X), together accounting for 66% of total imports.

India, with a CAGR of +17.0%, 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 sewing thread import price amounted to $X per ton, growing by 15% against the previous year. Over the period under review, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sewing thread import price increased by +37.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 31% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :