Sewing Thread Market

The article provides an overview of the global sewing thread market, with insights into consumption, production, import and export trends. Forecasts indicate growth in both volume and value from 2022 to 2030, with a slight increase in performance. Key findings include the highest volumes of consumption in countries like Russia, China, and the United States, along with growth rates in production and import prices. The data highlights significant differences in average prices amongst countries and product types, underscoring the dynamic nature of the sewing thread market.

Market Forecast

Driven by rising demand for sewing thread worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.9% for the period from 2022 to 2030, which is projected to bring the market volume to 831K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market value to $7.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Sewing Thread Of Man-Made Filaments Or Staple Fibers

In 2022, consumption of sewing thread of man-made filaments or staple fibers decreased by -0.3% to 715K tons for the first time since 2016, thus ending a five-year rising trend. Overall, consumption saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 3.3% against the previous year. Over the period under review, global consumption hit record highs at 746K tons in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

The global sewing thread market revenue declined modestly to $5.3B in 2022, approximately mirroring 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. The growth pace was the most rapid in 2018 when the market value increased by 8.2% against the previous year. Global consumption peaked at $5.8B in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Russia (122K tons), China (115K tons) and the United States (74K tons), with a combined 43% share of global consumption. India, Brazil, Indonesia, Belgium, Turkey, France, Bangladesh and Myanmar lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +38.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest sewing thread markets worldwide were the United States ($1B), Russia ($991M) and China ($547M), with a combined 48% share of the global market. India, France, Indonesia, Belgium, Turkey, Brazil, Bangladesh and Myanmar lagged somewhat behind, together accounting for a further 18%.

Belgium, with a CAGR of +32.6%, saw 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.

In 2022, the highest levels of sewing thread per capita consumption was registered in Belgium (1,343 kg per 1000 persons), followed by the United States (220 kg per 1000 persons), Myanmar (208 kg per 1000 persons) and France (185 kg per 1000 persons), while the world average per capita consumption of sewing thread was estimated at 1.2 kg per 1000 persons.

From 2012 to 2022, the average annual growth rate of the sewing thread per capita consumption in Belgium amounted to +37.9%. In the other countries, the average annual rates were as follows: the United States (+2.9% per year) and Myanmar (+12.7% per year).

Production

World Production of Sewing Thread Of Man-Made Filaments Or Staple Fibers

Global sewing thread production totaled 708K tons in 2022, therefore, remained relatively stable against the year before. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 18%. Over the period under review, global production reached the peak volume at 740K tons in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In value terms, sewing thread production contracted slightly to $5.5B in 2022 estimated in export price. In general, production, however, showed a slight reduction. The most prominent rate of growth was recorded in 2018 with an increase of 17% against the previous year. Global production peaked at $6.1B in 2012; however, from 2013 to 2022, production remained at a lower figure.

Production By Country

China (288K tons) constituted the country with the largest volume of sewing thread production, accounting for 41% of total volume. Moreover, sewing thread production in China exceeded the figures recorded by the second-largest producer, Russia (103K tons), threefold. The third position in this ranking was held by the United States (76K tons), with an 11% share.

In China, sewing thread production decreased by an average annual rate of -1.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (-0.6% per year) and the United States (+3.3% per year).

Imports

World Imports of Sewing Thread Of Man-Made Filaments Or Staple Fibers

In 2022, overseas purchases of sewing thread of man-made filaments or staple fibers increased by 5.1% to 298K tons, rising for the second consecutive year after two years of decline. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 11% against the previous year. Global imports peaked at 317K tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, sewing thread imports rose modestly to $1.8B in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 18% against the previous year. Over the period under review, global imports attained the peak figure at $2B in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports By Country

Russia (19K tons), Belgium (17K tons), Vietnam (15K tons), Bangladesh (13K tons), Myanmar (11K tons), Turkey (11K tons), Cambodia (10K tons), Indonesia (10K tons) and Guatemala (9.3K tons) represented roughly 39% of total imports in 2022. The following importers - Italy (5.8K tons), Kyrgyzstan (5.8K tons), Pakistan (5.7K tons) and Germany (5.4K tons) - each amounted to a 7.6% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +37.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Vietnam ($158M), Cambodia ($97M) and Germany ($87M) appeared to be the countries with the highest levels of imports in 2022, with a combined 19% share of global imports. Russia, Turkey, Bangladesh, Indonesia, Italy, Guatemala, Pakistan, Kyrgyzstan, Myanmar and Belgium lagged somewhat behind, together accounting for a further 22%.

Kyrgyzstan, with a CAGR of +33.2%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

In 2022, sewing thread of man-made filaments, whether or not put up for retail sale (150K tons), followed by sewing thread of man-made staple fibres, whether or not put up for retail sale (140K tons) were the largest types of sewing thread of man-made filaments or staple fibers, together committing 100% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key imported products, was attained by sewing thread of man-made staple fibres, whether or not put up for retail sale (with a CAGR of +0.9%).

In value terms, the largest types of imported sewing thread of man-made filaments or staple fibers were sewing thread of man-made filaments, whether or not put up for retail sale ($1.2B) and sewing thread of man-made staple fibres, whether or not put up for retail sale ($645M).

Sewing thread of man-made staple fibres, whether or not put up for retail sale, with a CAGR of +0.1%, recorded the highest growth rate of the value of imports, in terms of the main imported products over the period under review.

Import Prices By Type

In 2022, the average sewing thread import price amounted to $6,173 per ton, waning by -1.8% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 6.6%. Global import price peaked at $6,765 per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by the product type; the product with the highest price was sewing thread of man-made filaments, whether or not put up for retail sale ($7,762 per ton), while the price for sewing thread of man-made staple fibres, whether or not put up for retail sale stood at $4,598 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by sewing thread of man-made filaments, whether or not put up for retail sale (+0.2%).

Import Prices By Country

In 2022, the average sewing thread import price amounted to $6,173 per ton, waning by -1.8% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 6.6%. Over the period under review, average import prices attained the maximum at $6,765 per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($16,030 per ton), while Belgium ($556 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+17.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Sewing Thread Of Man-Made Filaments Or Staple Fibers

In 2022, approx. 291K tons of sewing thread of man-made filaments or staple fibers were exported worldwide; growing by 7.7% compared with 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 60%. Over the period under review, the global exports attained the peak figure at 309K tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, sewing thread exports expanded slightly to $2.1B in 2022. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 22% against the previous year. The global exports peaked at $2.2B in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

China prevails in exports structure, reaching 176K tons, which was approx. 60% of total exports in 2022. It was distantly followed by Germany (22K tons), creating a 7.6% share of total exports. Kyrgyzstan (9.3K tons), the United States (6.8K tons), Turkey (6.5K tons), Vietnam (5K tons), Hong Kong SAR (4.7K tons) and Egypt (4.5K tons) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of -1.3% from 2012 to 2022. At the same time, Kyrgyzstan (+82.9%), Egypt (+11.1%), Germany (+9.5%), Vietnam (+9.3%) and Turkey (+6.1%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing exporter exported in the world, with a CAGR of +82.9% from 2012-2022. By contrast, the United States (-1.1%) and Hong Kong SAR (-9.5%) illustrated a downward trend over the same period. While the share of Germany (+4.6 p.p.) and Kyrgyzstan (+3.2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Hong Kong SAR (-2.6 p.p.) and China (-6.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($894M) remains the largest sewing thread supplier worldwide, comprising 43% of global exports. The second position in the ranking was held by Germany ($210M), with a 10% share of global exports. It was followed by the United States, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (-1.2% per year) and the United States (+0.1% per year).

Exports By Type

In 2022, sewing thread of man-made staple fibres, whether or not put up for retail sale (152K tons), distantly followed by sewing thread of man-made filaments, whether or not put up for retail sale (126K tons) represented the major types of sewing thread of man-made filaments or staple fibers, together comprising 100% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exported products, was attained by sewing thread of man-made filaments, whether or not put up for retail sale (with a CAGR of +1.1%).

In value terms, sewing thread of man-made filaments, whether or not put up for retail sale ($1.3B) and sewing thread of man-made staple fibres, whether or not put up for retail sale ($769M) appeared to be the products with the highest levels of exports in 2022.

Sewing thread of man-made filaments, whether or not put up for retail sale, with a CAGR of +1.1%, recorded the highest rates of growth with regard to the value of exports, among the main exported products over the period under review.

Export Prices By Type

In 2022, the average sewing thread export price amounted to $7,178 per ton, which is down by -4.8% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 68%. As a result, the export price reached the peak level of $11,476 per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was sewing thread of man-made filaments, whether or not put up for retail sale ($10,494 per ton), while the average price for exports of sewing thread of man-made staple fibres, whether or not put up for retail sale stood at $5,053 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by sewing thread of man-made staple fibres, whether or not put up for retail sale (+0.5%).

Export Prices By Country

In 2022, the average sewing thread export price amounted to $7,178 per ton, waning by -4.8% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 68%. As a result, the export price reached the peak level of $11,476 per ton. From 2017 to 2022, the average export prices failed to regain momentum.

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 the United States ($17,593 per ton), while Kyrgyzstan ($3,563 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+15.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform