Global Knitted Fabric Market 2023

Knitted Fabric Market Size

In 2021, the global knitted fabric market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Global consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Knitted Fabric Production

In value terms, knitted fabric production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by 13% against the previous year. Over the period under review, global production attained the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Knitted Fabric Exports

Exports

In 2021, the amount of knitted or crocheted fabrics exported worldwide rose rapidly to X tons, surging by 10% on the year before. The total export volume increased at an average annual rate of +3.5% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, knitted fabric exports rose notably to $X in 2021. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The global exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

China was the key exporting country with an export of around X tons, which recorded 48% of total exports. Turkey (X tons) took a 7.6% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (6.7%) and Taiwan (Chinese) (5%). Vietnam (X tons), Hong Kong SAR (X tons), India (X tons), Belarus (X tons), the United States (X tons) and Italy (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +6.1% from 2012 to 2021. At the same time, Belarus (+41.4%), Vietnam (+22.0%), India (+10.8%), Turkey (+5.3%) and Italy (+1.3%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the world, with a CAGR of +41.4% from 2012-2021. By contrast, Taiwan (Chinese) (-2.7%), the United States (-3.4%), South Korea (-4.6%) and Hong Kong SAR (-6.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, Vietnam and Belarus increased by +9.5, +2.9 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest knitted fabric supplier worldwide, comprising 36% of global exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 8.2% share of global exports. It was followed by South Korea, with a 7.9% share.

In China, knitted fabric exports increased at an average annual rate of +4.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+0.2% per year) and South Korea (-5.6% per year).

Export Prices by Country

The average knitted fabric export price stood at $X per ton in 2021, with an increase of 3.3% against the previous year. Overall, the export price, however, showed a slight descent. The global export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.2%), while the other global leaders experienced more modest paces of growth.

Knitted Fabric Imports

Imports

In 2021, global imports of knitted or crocheted fabrics totaled X tons, surging by 14% against the previous year. The total import volume increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, knitted fabric imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Vietnam (X tons), followed by Cambodia (X tons) and Bangladesh (X tons) were the key importers of knitted or crocheted fabrics, together comprising 21% of total imports. The following importers - Indonesia (X tons), the United States (X tons), India (X tons), Russia (X tons), Hong Kong SAR (X tons), Mexico (X tons), Brazil (X tons), Morocco (X tons), Belarus (X tons) and Myanmar (X tons) - together made up 30% of total imports.

From 2012 to 2021, average annual rates of growth with regard to knitted fabric imports into Vietnam stood at +5.1%. At the same time, Belarus (+34.3%), Myanmar (+25.0%), Bangladesh (+13.7%), Morocco (+11.4%), India (+8.1%), Cambodia (+6.7%), Russia (+4.7%), Brazil (+3.3%), Mexico (+3.1%) and Indonesia (+2.2%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in the world, with a CAGR of +34.3% from 2012-2021. The United States experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-5.9%) illustrated a downward trend over the same period. While the share of Bangladesh (+2.4 p.p.), Belarus (+1.9 p.p.) and Myanmar (+1.7 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of the United States (-2.5 p.p.) and Hong Kong SAR (-5.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported knitted or crocheted fabrics worldwide, comprising 15% of global imports. The second position in the ranking was held by Cambodia ($X), with a 6.6% share of global imports. It was followed by Indonesia, with a 5.5% share.

In Vietnam, knitted fabric imports expanded at an average annual rate of +4.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Cambodia (+7.0% per year) and Indonesia (+1.4% per year).

Import Prices by Country

The average knitted fabric import price stood at $X per ton in 2021, rising by 2.6% against the previous year. Overall, the import price, however, showed a slight decline. The pace of growth was the most pronounced in 2014 when the average import price increased by 4.6% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+2.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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