Scandinavia: Cotton Yarn Market 2022

Cotton Yarn Market Size in Scandinavia

In 2021, the Scandinavia cotton yarn market increased by 13% to $X, rising for the fourth consecutive year after two years of decline. Over the period under review, consumption recorded a notable expansion. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in the immediate term.

Cotton Yarn Production in Scandinavia

In value terms, cotton yarn production declined to $X in 2021 estimated in export price. In general, production showed a moderate increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 72%. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

Cotton Yarn Exports

Exports in Scandinavia

In 2021, overseas shipments of cotton yarn increased by 5.4% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2020 with an increase of 54%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, cotton yarn exports surged to $X in 2021. Overall, exports posted a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of 93% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Denmark was the major exporter of cotton yarn in Scandinavia, with the volume of exports resulting at X tons, which was near 63% of total exports in 2021. Sweden (X tons) ranks second in terms of the total exports with a 19% share, followed by Norway (18%).

From 2012 to 2021, average annual rates of growth with regard to cotton yarn exports from Denmark stood at -5.3%. At the same time, Sweden (+9.7%) and Norway (+8.9%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +9.7% from 2012-2021. While the share of Sweden (+12 p.p.) and Norway (+11 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Denmark (-22.3 p.p.) displayed negative dynamics.

In value terms, Denmark ($X) remains the largest cotton yarn supplier in Scandinavia, comprising 80% of total exports. The second position in the ranking was taken by Norway ($X), with an 11% share of total exports.

In Denmark, cotton yarn exports increased at an average annual rate of +22.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Norway (+10.7% per year) and Sweden (+7.6% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, increasing by 41% against the previous year. Overall, the export price continues to indicate a significant increase. The pace of growth appeared the most rapid in 2019 when the export price increased by 67%. The level of export peaked in 2021 and is likely to continue growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Denmark ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+29.4%), while the other leaders experienced mixed trends in the export price figures.

Cotton Yarn Imports

Imports in Scandinavia

In 2021, purchases abroad of cotton yarn increased by 28% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 30%. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, cotton yarn imports skyrocketed to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +86.0% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Denmark (X tons) represented the key importer of cotton yarn, making up 59% of total imports. Sweden (X tons) took the second position in the ranking, followed by Norway (X tons) and Finland (X tons). All these countries together held approx. 41% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to cotton yarn imports into Denmark stood at +2.7%. At the same time, Norway (+2.9%) and Sweden (+2.0%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +2.9% from 2012-2021. Finland experienced a relatively flat trend pattern. From 2012 to 2021, the share of Denmark increased by +2.6 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Denmark ($X) constitutes the largest market for imported cotton yarn in Scandinavia, comprising 52% of total imports. The second position in the ranking was held by Norway ($X), with a 20% share of total imports. It was followed by Sweden, with a 19% share.

In Denmark, cotton yarn imports increased at an average annual rate of +7.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Norway (+3.5% per year) and Sweden (+3.6% per year).

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, with an increase of 7.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.8%. The pace of growth appeared the most rapid in 2018 an increase of 20% against the previous year. Over the period under review, import prices attained the peak figure in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform