U.S.: Knit Fabric Market 2024

Knit Fabric Market Size in the U.S.

In 2022, the U.S. knit fabric market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% from 2013 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Knit Fabric Production in the U.S.

In value terms, knit fabric production stood at $X in 2022. In general, production, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Knit Fabric Exports

Exports from the U.S.

In 2022, overseas shipments of knit fabrics increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, saw a slight decrease. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, knit fabric exports totaled $X in 2022. Overall, exports, however, continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico (X tons) was the main destination for knit fabric exports from the United States, accounting for a X% share of total exports. Moreover, knit fabric exports to Mexico exceeded the volume sent to the second major destination, Honduras (X tons), fourfold. The third position in this ranking was taken by Guatemala (X tons), with an X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to Mexico amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (X% per year) and Guatemala (X% per year).

In value terms, Mexico ($X) remains the key foreign market for knit fabrics exports from the United States, comprising X% of total exports. The second position in the ranking was held by Honduras ($X), with an X% share of total exports. It was followed by Guatemala, with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of value to Mexico stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (X% per year) and Guatemala (X% per year).

Export Prices by Country

The average knit fabric export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price, however, recorded a slight slump. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (X%), while the prices for the other major destinations experienced more modest paces of growth.

Knit Fabric Imports

Imports into the U.S.

In 2022, supplies from abroad of knit fabrics decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of X% from 2013 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, knit fabric imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2013 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), India (X tons) and South Korea (X tons) were the main suppliers of knit fabric imports to the United States, together accounting for X% of total imports.

From 2013 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and South Korea ($X) constituted the largest knit fabric suppliers to the United States, with a combined X% share of total imports.

India, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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 knit fabric import price amounted to $X per ton, picking up by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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