Over the next ten years, the cotton yarn market is anticipated to maintain an upward consumption trend, driven by the growing demand for cotton yarn in Asia-Pacific, said a report from IndexBox.
The market is expected to continue on its current trajectory, growing at a projected compound annual growth rate (CAGR) of +0.5 per cent between 2024 and 2035, reaching a market volume of 19 million tonnes by the end of 2035. In value terms, the market is expected to grow at a projected compound annual growth rate (CAGR) of +1.3 per cent between 2024 and 2035, reaching a market size of US $ 72.7 billion (at nominal wholesale prices) by the end of 2035.
Asia-Pacific’s consumption of cotton yarn stabilised the previous year at an expected 18 million tonnes in 2024. In 2024, the Asia-Pacific cotton yarn market was valued at US $ 62.8 billion, roughly the same as the year before.
The three nations that consumed the most in 2024—China (7.4 million tonnes), India (4.7 million tonnes), and Pakistan (3.4 million tons)—accounted for 88 per cent of all consumption.
Among the major consuming nations, India achieved the most remarkable rate of consumption growth from 2013 to 2024 (a compound annual growth rate of +8.5 per cent), while the other leaders’ consumption grew at more moderate rates.
China (US $ 30.4B) led the market by itself in terms of value with India coming in second (US $ 15.2B) followed by Pakistan. The average yearly growth rate of value in China from 2013 to 2024 was -3.8 per cent. The average yearly rates in the other nations were as follows: Pakistan (+3.1 per cent annually) and India (+8.0 per cent annually).
India achieved the highest rate of consumption growth among the major consuming nations between 2013 and 2024 (a compound annual growth rate of +7.4 per cent), while the other leaders’ consumption grew at more moderate rates.
With 18 million tonnes produced in Asia-Pacific in 2024, cotton yarn production stayed largely unchanged from the previous year. Estimated export prices for cotton yarn production in 2024 were US $ 61.7 billion.
The three nations that produced the most in 2024—China (6.2 million tonnes), India (5.8 million tonnes), and Pakistan (3.7 million tons)—accounted for 87 per cent of the total production. Bangladesh, South Korea, Vietnam, and Indonesia trailed slightly behind, making up an additional 11 per cent.
China was the largest importer of cotton yarn in 2024, accounting for 59 per cent of all imports with 1.5 million tonnes. South Korea (176K tonnes) and Bangladesh (531K tonnes), which together accounted for 28 per cent of total imports, came in far behind it. Vietnam trailed far behind the top with 84K tonnes.
With 52 per cent of total imports, China (US $ 3.5B) is the Asia-Pacific region’s largest market for imported cotton yarn. Bangladesh came in at number two (US $ 1.6 billion), accounting for 23 per cent of all imports. South Korea, with an 8.1 per cent share, came next.
With around 37 per cent and 34 per cent of total exports, respectively, India (1 million tonnes) and Vietnam (1 million tonnes) were the top exporters of cotton yarn in 2024. China was in second place with 287K tonnes, or 10 per cent (physically) of overall shipments, followed by Pakistan with 9.3 per cent. The leaders were far ahead of Malaysia (89K tonnes), Indonesia (70K tonnes), and Taiwan (Chinese) (64K tonnes).
In 2024, the three nations with the largest export values—China (US $ 1.1 billion), Vietnam (US $ 2.8 billion), and India (US $ 3.4 billion)—accounted for 83 per cent of all exports. With a combined 15 per cent share, Pakistan, Malaysia, Indonesia, and Taiwan (Chinese) trailed slightly.
