Republic of Korea: Cotton Sewing Thread Market 2025

Cotton Sewing Thread Market Size in Republic of Korea

In 2021, the South Korean cotton sewing thread market increased by 2.1% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Cotton sewing thread consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Cotton Sewing Thread Production in Republic of Korea

In value terms, cotton sewing thread production totaled $X in 2021 estimated in export price. Over the period under review, the total production indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -29.3% against 2017 indices. The pace of growth appeared the most rapid in 2014 with an increase of 58% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Cotton Sewing Thread Exports

Exports from Republic of Korea

In 2021, the amount of cotton sewing thread exported from South Korea shrank slightly to X tons, which is down by -3.8% on the year before. Over the period under review, exports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2014 with an increase of 1,310% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, cotton sewing thread exports expanded remarkably to $X in 2021. In general, exports, however, saw notable growth. The growth pace was the most rapid in 2014 when exports increased by 1,292%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Myanmar (X tons), Nicaragua (X tons) and Indonesia (X tons) were the main destinations of cotton sewing thread exports from South Korea, with a combined 51% share of total exports. Vietnam, Russia, Poland and China lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +126.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nicaragua ($X), Indonesia ($X) and Myanmar ($X) constituted the largest markets for cotton sewing thread exported from South Korea worldwide, together comprising 50% of total exports.

Among the main countries of destination, Nicaragua, with a CAGR of +150.0%, recorded the highest rates of growth with regard to 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 sewing thread export price stood at $X per ton in 2021, with an increase of 14% against the previous year. Overall, the export price, however, saw a pronounced contraction. The pace of growth was the most pronounced in 2018 when the average export price increased by 25% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Sewing Thread Imports

Imports into Republic of Korea

In 2021, purchases abroad of cotton sewing thread increased by 79% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, cotton sewing thread imports skyrocketed to $X in 2021. Overall, total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest cotton sewing thread supplier to South Korea, with a 61% share of total imports. Moreover, cotton sewing thread imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. Vietnam (X tons) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (-1.7% per year) and Vietnam (+27.9% per year).

In value terms, the largest cotton sewing thread suppliers to South Korea were China ($X), India ($X) and Italy ($X), together comprising 78% of total imports.

In terms of the main suppliers, Italy, with a CAGR of +39.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average cotton sewing thread import price amounted to $X per ton, growing by 9.1% against the previous year. In general, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cotton sewing thread import price increased by +59.3% against 2012 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 15%. The import price peaked in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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