Cotton Yarn Market

The article provides an in-depth analysis of the global cotton yarn market, predicting an increase in consumption, production, imports, and exports by 2030. Key findings include the market's growth patterns, major consuming countries such as China, India, and Pakistan, as well as trends in production and import prices. The analysis also examines the types of cotton yarn being imported and exported, as well as the average export prices and their variations amongst major exporting countries.

Market Forecast

Driven by increasing demand for cotton yarn worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.4% for the period from 2022 to 2030, which is projected to bring the market volume to 25M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.7% for the period from 2022 to 2030, which is projected to bring the market value to $113B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Cotton Yarn

In 2022, the amount of cotton yarn consumed worldwide was estimated at 22M tons, almost unchanged from the previous year's figure. Overall, consumption saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the consumption volume increased by 5.9%. As a result, consumption reached the peak volume of 22M tons. From 2021 to 2022, the growth of the global consumption failed to regain momentum.

The global cotton yarn market value rose markedly to $91.3B in 2022, surging by 5.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the global market reached the peak level in 2022 and is expected to retain growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (7.2M tons), India (5.1M tons) and Pakistan (3.4M tons), with a combined 71% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by India (with a CAGR of +10.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($33.3B), India ($19.9B) and Pakistan ($11.4B) were the countries with the highest levels of market value in 2022, with a combined 71% share of the global market.

India, with a CAGR of +11.9%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of cotton yarn per capita consumption in 2022 were Turkey (19 kg per person), Pakistan (15 kg per person) and South Korea (8.2 kg per person).

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +8.9%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Cotton Yarn

Global cotton yarn production rose slightly to 23M tons in 2022, growing by 1.6% on 2021 figures. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 4.7%. Global production peaked at 23M tons in 2020; however, from 2021 to 2022, production failed to regain momentum.

In value terms, cotton yarn production expanded rapidly to $92.2B in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 17%. Global production peaked in 2022 and is expected to retain growth in the immediate term.

Production By Country

The countries with the highest volumes of production in 2022 were China (6.3M tons), India (5.8M tons) and Pakistan (3.7M tons), together accounting for 70% of global production. Turkey, Vietnam, the United States and Uzbekistan lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +38.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Cotton Yarn

In 2022, the amount of cotton yarn imported worldwide reduced markedly to 3.7M tons, shrinking by -22.2% against the previous year's figure. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 22% against the previous year. Global imports peaked at 4.8M tons in 2021, and then dropped rapidly in the following year.

In value terms, cotton yarn imports contracted to $13.7B in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 45% against the previous year. Global imports peaked at $16.3B in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports By Country

China represented the largest importer of cotton yarn in the world, with the volume of imports finishing at 1.2M tons, which was near 32% of total imports in 2022. It was distantly followed by Bangladesh (342K tons), Turkey (255K tons), Honduras (210K tons) and Russia (185K tons), together making up a 27% share of total imports. South Korea (164K tons), the Dominican Republic (114K tons), Portugal (97K tons), Vietnam (91K tons), Guatemala (91K tons), Italy (80K tons) and Peru (60K tons) held a little share of total imports.

Imports into China decreased at an average annual rate of -1.4% from 2012 to 2022. At the same time, Russia (+12.8%), Turkey (+10.2%), the Dominican Republic (+9.5%), Peru (+6.4%), Guatemala (+5.8%), Bangladesh (+5.2%), Portugal (+2.8%) and Vietnam (+2.8%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing importer imported in the world, with a CAGR of +12.8% from 2012-2022. Italy, South Korea and Honduras experienced a relatively flat trend pattern. While the share of Turkey (+4.2 p.p.), Bangladesh (+3.6 p.p.), Russia (+3.4 p.p.) and the Dominican Republic (+1.8 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of China (-5.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($3.6B) constitutes the largest market for imported cotton yarn worldwide, comprising 27% of global imports. The second position in the ranking was taken by Bangladesh ($1.2B), with an 8.6% share of global imports. It was followed by Turkey, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value in China stood at -1.6%. In the other countries, the average annual rates were as follows: Bangladesh (+3.2% per year) and Turkey (+11.9% per year).

Imports By Type

Cotton yarn (other than sewing thread), containing 85% or more by weight of cotton, not put up for retail sale was the largest imported product with an import of around 3.1M tons, which recorded 84% of total imports. It was distantly followed by cotton yarn (other than sewing thread), containing less than 85% by weight of cotton, not put up for retail sale (510K tons), committing a 14% share of total imports. Cotton yarn (other than sewing thread), put up for retail sale (101K tons) followed a long way behind the leaders.

Cotton yarn (other than sewing thread), containing 85% or more by weight of cotton, not put up for retail sale experienced a relatively flat trend pattern with regard to volume of imports. At the same time, cotton yarn (other than sewing thread), put up for retail sale (+8.5%) and cotton yarn (other than sewing thread), containing less than 85% by weight of cotton, not put up for retail sale (+3.2%) displayed positive paces of growth. Moreover, cotton yarn (other than sewing thread), put up for retail sale emerged as the fastest-growing type imported in the world, with a CAGR of +8.5% from 2012-2022. From 2012 to 2022, the share of cotton yarn (other than sewing thread), containing less than 85% by weight of cotton, not put up for retail sale increased by +3.5 percentage points. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, cotton yarn (other than sewing thread), containing 85% or more by weight of cotton, not put up for retail sale ($11.6B) constitutes the largest type of cotton yarn imported worldwide, comprising 85% of global imports. The second position in the ranking was taken by cotton yarn (other than sewing thread), containing less than 85% by weight of cotton, not put up for retail sale ($1.6B), with a 12% share of global imports.

For cotton yarn (other than sewing thread), containing 85% or more by weight of cotton, not put up for retail sale, imports remained relatively stable over the period from 2012-2022. For the other products, the average annual rates were as follows: cotton yarn (other than sewing thread), containing less than 85% by weight of cotton, not put up for retail sale (+1.4% per year) and cotton yarn (other than sewing thread), put up for retail sale (+0.5% per year).

Import Prices By Type

The average cotton yarn import price stood at $3,672 per ton in 2022, with an increase of 10% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 26%. Global import price peaked at $3,744 per ton in 2012; afterwards, it flattened through to 2022.

Prices varied noticeably by the product type; the product with the highest price was cotton yarn (other than sewing thread), put up for retail sale ($4,935 per ton), while the price for cotton yarn (other than sewing thread), containing less than 85% by weight of cotton, not put up for retail sale ($3,185 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by cotton yarn (other than sewing thread), containing 85% or more by weight of cotton, not put up for retail sale (+0.2%), while the other products experienced a decline in the import price figures.

Import Prices By Country

In 2022, the average cotton yarn import price amounted to $3,672 per ton, rising by 10% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 26% against the previous year. Over the period under review, average import prices reached the peak figure at $3,744 per ton in 2012; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($6,582 per ton), while Russia ($2,036 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+2.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Cotton Yarn

In 2022, approx. 4.1M tons of cotton yarn were exported worldwide; reducing by -19.3% compared with 2021 figures. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 20% against the previous year. Over the period under review, the global exports hit record highs at 5.1M tons in 2021, and then shrank remarkably in the following year.

In value terms, cotton yarn exports contracted to $15.6B in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 54%. As a result, the exports reached the peak of $18B, and then reduced in the following year.

Exports By Country

Vietnam (1,097K tons) and India (755K tons) represented the major exporters of cotton yarn in 2022, accounting for near 27% and 18% of total exports, respectively. Uzbekistan (407K tons) held a 9.8% share (based on physical terms) of total exports, which put it in second place, followed by the United States (8.2%), China (6.8%), Pakistan (6.7%) and Indonesia (5.3%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Vietnam (with a CAGR of +16.7%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest cotton yarn supplying countries worldwide were India ($3.3B), Vietnam ($3B) and Uzbekistan ($1.4B), together comprising 50% of global exports.

Among the main exporting countries, Uzbekistan, with a CAGR of +17.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Cotton yarn (other than sewing thread), containing 85% or more by weight of cotton, not put up for retail sale represented the largest type of cotton yarn in the world, with the volume of exports resulting at 3.5M tons, which was approx. 85% of total exports in 2022. It was distantly followed by cotton yarn (other than sewing thread), containing less than 85% by weight of cotton, not put up for retail sale (580K tons), mixing up a 14% share of total exports.

Cotton yarn (other than sewing thread), containing 85% or more by weight of cotton, not put up for retail sale experienced a relatively flat trend pattern with regard to volume of exports. At the same time, cotton yarn (other than sewing thread), containing less than 85% by weight of cotton, not put up for retail sale (+3.4%) displayed positive paces of growth. Moreover, cotton yarn (other than sewing thread), containing less than 85% by weight of cotton, not put up for retail sale emerged as the fastest-growing type exported in the world, with a CAGR of +3.4% from 2012-2022. From 2012 to 2022, the share of cotton yarn (other than sewing thread), containing less than 85% by weight of cotton, not put up for retail sale increased by +3.7 percentage points.

In value terms, cotton yarn (other than sewing thread), containing 85% or more by weight of cotton, not put up for retail sale ($13.4B) remains the largest type of cotton yarn supplied worldwide, comprising 86% of global exports. The second position in the ranking was held by cotton yarn (other than sewing thread), containing less than 85% by weight of cotton, not put up for retail sale ($1.9B), with a 12% share of global exports.

From 2012 to 2022, the average annual rate of growth in terms of the value of cotton yarn (other than sewing thread), containing 85% or more by weight of cotton, not put up for retail sale exports was relatively modest. With regard to the other exported products, the following average annual rates of growth were recorded: cotton yarn (other than sewing thread), containing less than 85% by weight of cotton, not put up for retail sale (+1.6% per year) and cotton yarn (other than sewing thread), put up for retail sale (+1.5% per year).

Export Prices By Type

In 2022, the average cotton yarn export price amounted to $3,767 per ton, growing by 7.4% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 32% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by the product type; the product with the highest price was cotton yarn (other than sewing thread), put up for retail sale ($14,256 per ton), while the average price for exports of cotton yarn (other than sewing thread), containing less than 85% by weight of cotton, not put up for retail sale ($3,278 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by cotton yarn (other than sewing thread), put up for retail sale (+2.8%), while the other products experienced mixed trends in the export price figures.

Export Prices By Country

The average cotton yarn export price stood at $3,767 per ton in 2022, rising by 7.4% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 32%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($4,761 per ton), while Vietnam ($2,743 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+7.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform