Knitted Fabric Market

The article delves into the forecasted growth of the global market for knitted or crocheted fabrics, highlighting a steady increase in both volume and value over the next eight years. Insights into consumption, production, imports, and exports are provided, with China emerging as a key player in both consumption and production. The analysis also covers the various types of knitted fabrics traded internationally and their respective growth patterns. Overall, the article offers a comprehensive overview of the market trends shaping the knitted fabric industry worldwide.

Market Forecast

Driven by increasing demand for knitted or crocheted fabrics worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market volume to 13M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.0% for the period from 2022 to 2030, which is projected to bring the market value to $86.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Knitted Or Crocheted Fabrics

In 2022, approx. 9.5M tons of knitted or crocheted fabrics were consumed worldwide; picking up by 5.5% against the year before. The total consumption volume increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked in 2022 and is expected to retain growth in the near future.

The global knitted fabric market size expanded markedly to $58.5B in 2022, increasing by 6.8% 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). The market value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Global consumption peaked in 2022 and is likely to continue growth in years to come.

Consumption By Country

China (1.8M tons) constituted the country with the largest volume of knitted fabric consumption, comprising approx. 19% of total volume. Moreover, knitted fabric consumption in China exceeded the figures recorded by the second-largest consumer, Bangladesh (755K tons), twofold. Vietnam (624K tons) ranked third in terms of total consumption with a 6.5% share.

In China, knitted fabric consumption increased at an average annual rate of +4.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bangladesh (+10.0% per year) and Vietnam (+5.7% per year).

In value terms, China ($9B), Vietnam ($5.6B) and Brazil ($4.1B) constituted the countries with the highest levels of market value in 2022, together comprising 32% of the global market. Turkey, Cambodia, Bangladesh, Indonesia, Italy, Myanmar, Russia, the United States, India and Pakistan lagged somewhat behind, together comprising a further 27%.

Myanmar, with a CAGR of +28.3%, recorded the highest rates of growth with regard to market size among 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 knitted fabric per capita consumption was registered in Cambodia (20 kg per person), followed by Vietnam (6.3 kg per person), Turkey (5.5 kg per person) and Bangladesh (4.5 kg per person), while the world average per capita consumption of knitted fabric was estimated at 1.2 kg per person.

From 2012 to 2022, the average annual growth rate of the knitted fabric per capita consumption in Cambodia stood at +6.7%. In the other countries, the average annual rates were as follows: Vietnam (+4.7% per year) and Turkey (+2.4% per year).

Production

World Production of Knitted Or Crocheted Fabrics

In 2022, the amount of knitted or crocheted fabrics produced worldwide fell to 8.3M tons, remaining stable against the previous year. The total output volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 13% against the previous year. Global production peaked at 8.6M tons in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In value terms, knitted fabric production contracted slightly to $51.1B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 13%. Global production peaked at $56.6B in 2018; however, from 2019 to 2022, production failed to regain momentum.

Production By Country

The country with the largest volume of knitted fabric production was China (4.2M tons), comprising approx. 51% of total volume. Moreover, knitted fabric production in China exceeded the figures recorded by the second-largest producer, Turkey (668K tons), sixfold. The third position in this ranking was taken by Bangladesh (433K tons), with a 5.2% share.

In China, knitted fabric production expanded at an average annual rate of +6.5% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Turkey (+3.0% per year) and Bangladesh (+7.2% per year).

Imports

World Imports of Knitted Or Crocheted Fabrics

Global knitted fabric imports rose significantly to 6M tons in 2022, with an increase of 11% against the previous year. In general, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +26.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 14% against the previous year. Over the period under review, global imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, knitted fabric imports surged to $38.3B in 2022. The total import value increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, Vietnam (809K tons), distantly followed by Cambodia (360K tons), Bangladesh (344K tons) and India (326K tons) represented the major importers of knitted or crocheted fabrics, together comprising 31% of total imports. The following importers - Russia (221K tons), Indonesia (216K tons), the United States (208K tons), Myanmar (166K tons), Brazil (137K tons), Mexico (126K tons), Pakistan (111K tons), Italy (106K tons) and Morocco (101K tons) - together made up 23% of total imports.

Imports into Vietnam increased at an average annual rate of +7.7% from 2012 to 2022. At the same time, Myanmar (+27.2%), Pakistan (+21.4%), Bangladesh (+16.2%), India (+13.1%), Cambodia (+8.5%), Morocco (+8.4%), Russia (+5.8%), Brazil (+3.0%), Italy (+2.6%), Indonesia (+1.8%) and Mexico (+1.0%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in the world, with a CAGR of +27.2% from 2012-2022. The United States experienced a relatively flat trend pattern. From 2012 to 2022, the share of Bangladesh, India, Vietnam, Myanmar and Cambodia increased by +3.6, +2.8, +2.7, +2.4 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($7.3B) constitutes the largest market for imported knitted or crocheted fabrics worldwide, comprising 19% of global imports. The second position in the ranking was held by Cambodia ($2.7B), with a 7% share of global imports. It was followed by Bangladesh, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam amounted to +8.9%. In the other countries, the average annual rates were as follows: Cambodia (+8.7% per year) and Bangladesh (+16.4% per year).

Imports By Type

In 2022, fabrics, knitted or crocheted, of a width of > 30 cm (3.3M tons) represented the largest type of knitted or crocheted fabrics, constituting 55% of total imports. Knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread (1,012K tons) ranks second in terms of the total imports with a 17% share, followed by knitted or crocheted pile fabrics (17%) and warp knit fabrics, incl. those made on galloon knitting machines, of a width of > 30 cm (9.5%).

From 2012 to 2022, average annual rates of growth with regard to fabrics, knitted or crocheted, of a width of > 30 cm imports of stood at +5.5%. At the same time, knitted or crocheted pile fabrics (+6.6%), knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread (+5.5%) and warp knit fabrics, incl. those made on galloon knitting machines, of a width of > 30 cm (+3.5%) displayed positive paces of growth. Moreover, knitted or crocheted pile fabrics emerged as the fastest-growing type imported in the world, with a CAGR of +6.6% from 2012-2022. While the share of knitted or crocheted pile fabrics (+1.9 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of warp knit fabrics, incl. those made on galloon knitting machines, of a width of > 30 cm (-1.9 p.p.) displayed negative dynamics. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, fabrics, knitted or crocheted, of a width of > 30 cm ($20.1B) constitutes the largest type of knitted or crocheted fabrics imported worldwide, comprising 52% of global imports. The second position in the ranking was held by knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread ($8.7B), with a 23% share of global imports. It was followed by knitted or crocheted pile fabrics, with a 14% share.

From 2012 to 2022, the average annual growth rate of the value of fabrics, knitted or crocheted, of a width of > 30 cm imports amounted to +4.5%. With regard to the other imported products, the following average annual rates of growth were recorded: knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread (+4.7% per year) and knitted or crocheted pile fabrics (+5.7% per year).

Import Prices By Type

The average knitted fabric import price stood at $6,430 per ton in 2022, increasing by 6.3% against the previous year. In general, the import price, however, showed a mild curtailment. Over the period under review, average import prices hit record highs at $7,510 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was knitted or crocheted fabrics, of a width <= 30 cm ($10,799 per ton), while the price for knitted or crocheted pile fabrics ($5,294 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by knitted or crocheted fabrics, of a width <= 30 cm (+0.5%), while the other products experienced a decline in the import price figures.

Import Prices By Country

In 2022, the average knitted fabric import price amounted to $6,430 per ton, increasing by 6.3% against the previous year. Over the period under review, the import price, however, saw a slight curtailment. Over the period under review, average import prices attained the maximum at $7,510 per ton in 2014; however, from 2015 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 Vietnam ($9,055 per ton), while India ($2,399 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Knitted Or Crocheted Fabrics

In 2022, approx. 4.8M tons of knitted or crocheted fabrics were exported worldwide; approximately equating 2021 figures. The total export volume increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 10%. Over the period under review, the global exports attained the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, knitted fabric exports expanded notably to $33.5B in 2022. The total export value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 with an increase of 14%. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports By Country

China prevails in exports structure, finishing at 2.6M tons, which was near 54% of total exports in 2022. Turkey (297K tons) held a 6.2% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (5.9%) and Taiwan (Chinese) (4.5%). Vietnam (185K tons), India (113K tons), the United States (83K tons) and Italy (81K tons) took a little share of total exports.

Exports from China increased at an average annual rate of +6.8% from 2012 to 2022. At the same time, Vietnam (+20.0%), India (+6.7%), Turkey (+2.9%) and Italy (+1.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +20.0% from 2012-2022. By contrast, the United States (-3.3%), Taiwan (Chinese) (-3.3%) and South Korea (-5.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Vietnam increased by +15 and +3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($14.7B) remains the largest knitted fabric supplier worldwide, comprising 44% of global exports. The second position in the ranking was taken by Taiwan (Chinese) ($2.4B), with a 7.2% share of global exports. It was followed by South Korea, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +7.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (-0.1% per year) and South Korea (-5.7% per year).

Exports By Type

Fabrics, knitted or crocheted, of a width of > 30 cm was the largest type of knitted or crocheted fabrics in the world, with the volume of exports recording 2.5M tons, which was near 53% of total exports in 2022. Knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread (878K tons) held the second position in the ranking, followed by knitted or crocheted pile fabrics (737K tons) and warp knit fabrics, incl. those made on galloon knitting machines, of a width of > 30 cm (569K tons). All these products together held approx. 46% share of total exports.

Exports of fabrics, knitted or crocheted, of a width of > 30 cm increased at an average annual rate of +3.1% from 2012 to 2022. At the same time, knitted or crocheted pile fabrics (+4.9%), warp knit fabrics, incl. those made on galloon knitting machines, of a width of > 30 cm (+3.8%) and knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread (+2.6%) displayed positive paces of growth. Moreover, knitted or crocheted pile fabrics emerged as the fastest-growing type exported in the world, with a CAGR of +4.9% from 2012-2022. Knitted or crocheted pile fabrics (+2.2 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other products remained relatively stable throughout the analyzed period.

In value terms, fabrics, knitted or crocheted, of a width of > 30 cm ($16.9B) remains the largest type of knitted or crocheted fabrics supplied worldwide, comprising 50% of global exports. The second position in the ranking was held by knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread ($8.2B), with a 25% share of global exports. It was followed by knitted or crocheted pile fabrics, with a 12% share.

For fabrics, knitted or crocheted, of a width of > 30 cm, exports expanded at an average annual rate of +2.6% over the period from 2012-2022. For the other products, the average annual rates were as follows: knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread (+2.4% per year) and knitted or crocheted pile fabrics (+3.8% per year).

Export Prices By Type

The average knitted fabric export price stood at $7,042 per ton in 2022, growing by 7.9% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The global export price peaked at $7,697 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was knitted or crocheted fabrics, of a width <= 30 cm ($15,358 per ton), while the average price for exports of knitted or crocheted pile fabrics ($5,521 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by knitted or crocheted fabrics, of a width <= 30 cm (+0.7%), while the other products experienced mixed trends in the export price figures.

Export Prices By Country

In 2022, the average knitted fabric export price amounted to $7,042 per ton, surging by 7.9% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The global export price peaked at $7,697 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($15,587 per ton), while China ($5,743 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform