Driven by increasing demand, the cotton yarn market in Asia-Pacific is poised to grow at a CAGR of 0.5 per cent from 2024-2035, reaching a volume of 19 million metric tons by 2035.
As per a report by IndexBox, the value of this market is expected to grow at a CAGR of +1.3 per cent over the same period, reaching $72.7 billion by 2035.
In 2024, Asia-Pacific's cotton yarn consumption stabilized at approximately 18 million metric tons, with a market value of $62.8 billion, remaining relatively unchanged from the previous year.
The top three consuming nations in 2024 included China (7.4 million metric tons), India (4.7 million metric tons), and Pakistan (3.4 million metric tons). Together, these three nations accounted for 88 per cent of world’s total consumption. India experienced the most significant growth in consumption of cotton yarn from 2013 - 2024, with a CAGR of +8.5 per cent, while growth in China and Pakistan was more moderate.
In terms of market value, China led with $30.4 billion, followed by India ($15.2 billion) and Pakistan. India also achieved the highest average annual value growth rate of +8.0 per cent from 2013- 2024.
Production of cotton yarn in the Asia-Pacific region remained stable at 18 million metric tons in 2024, with an estimated export value of $61.7 billion . The leading producers were China (6.2 million metric tons), India (5.8 million metric tons), and Pakistan (3.7 million metric tons), collectively accounting for 87 per cent of total production.
China was the largest importer of cotton yarn in 2024, with 1.5 million metric tons, representing 59 per cent of total imports. South Korea and Bangladesh followed, accounting for 28 per cent combined. In terms of import value, China also led with $3.5 billion.
India and Vietnam were the top exporters in 2024, each exporting approximately 1 million metric tons, representing 37 per cent and 34 per cent of total exports, respectively. In terms of export value, India with an export value of $3.4 billion, Vietnam with $2.8 billion, and China with $1.1 billion worth of exports dominated, accounting for 83 per cent of total export value.
