Eastern Asia: Cotton Yarn Market 2022

Cotton Yarn Market Size in Eastern Asia

In 2021, the East Asian cotton yarn market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Cotton Yarn Production in Eastern Asia

In value terms, cotton yarn production expanded slightly to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 23% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Cotton Yarn Exports

Exports in Eastern Asia

In 2021, cotton yarn exports in Eastern Asia declined modestly to X tons, which is down by -1.5% compared with 2020 figures. Overall, exports showed a deep downturn. The growth pace was the most rapid in 2013 when exports increased by 11% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, cotton yarn exports skyrocketed to $X in 2021. In general, exports saw a deep contraction. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

China was the key exporting country with an export of about X tons, which resulted at 67% of total exports. Taiwan (Chinese) (X tons) ranks second in terms of the total exports with a 17% share, followed by Hong Kong SAR (11%) and South Korea (5.6%).

China was also the fastest-growing in terms of the cotton yarn exports, with a CAGR of -4.5% from 2012 to 2021. Taiwan (Chinese) (-6.9%), South Korea (-11.0%) and Hong Kong SAR (-19.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Taiwan (Chinese) increased by +21 and +2.5 percentage points, respectively.

In value terms, China ($X) remains the largest cotton yarn supplier in Eastern Asia, comprising 73% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 13% share of total exports. It was followed by Taiwan (Chinese), with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to -4.9%. In the other countries, the average annual rates were as follows: Hong Kong SAR (-18.0% per year) and Taiwan (Chinese) (-9.5% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, rising by 23% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+1.7%), while the other leaders experienced mixed trends in the export price figures.

Cotton Yarn Imports

Imports in Eastern Asia

In 2021, supplies from abroad of cotton yarn increased by 13% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 31%. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, cotton yarn imports skyrocketed to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

China dominates imports structure, finishing at X tons, which was approx. 87% of total imports in 2021. It was distantly followed by South Korea (X tons), constituting a 7.7% share of total imports. The following importers - Hong Kong SAR (X tons) and Japan (X tons) - each resulted at a 4% share of total imports.

China was also the fastest-growing in terms of the cotton yarn imports, with a CAGR of +4.8% from 2012 to 2021. At the same time, South Korea (+2.1%) displayed positive paces of growth. By contrast, Japan (-2.1%) and Hong Kong SAR (-19.9%) illustrated a downward trend over the same period. China (+18 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by -16.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported cotton yarn in Eastern Asia, comprising 83% of total imports. The second position in the ranking was held by South Korea ($X), with a 9.3% share of total imports. It was followed by Hong Kong SAR, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +3.5%. In the other countries, the average annual rates were as follows: South Korea (+1.2% per year) and Hong Kong SAR (-18.5% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, increasing by 27% against the previous year. In general, the import price, however, continues to indicate a slight descent. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+1.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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