The sold production of cotton yarn in Spain stood at 108.28 million kilograms in 2023. Over the past decade, the trend has shown significant fluctuations. Early growth was noted between 2013 and 2017, peaking in 2017. However, from 2018 onwards, the industry faced a downturn, with a sharp decline during the COVID-19 pandemic in 2020 and 2021. The recovery in 2022 proved temporary, and the recent data indicates a marginal decline in 2023.
Looking at the past two years:
- 2022 saw a substantial recovery of 151.94% after the dramatic drop in 2021.
- 2023 experienced a slight decline of -1.03% year-on-year.
The five-year Compound Annual Growth Rate (CAGR) leading up to 2023 is -2.06%.
Forecast data from 2024 to 2028 suggests a continued decline, with a projected average annual decrease (CAGR) of -3.91%, resulting in an 18.06% drop in total production volume over this period.
Future trends to watch for include potential impacts of sustainability initiatives in textiles, shifts in global cotton demand, technological advancements in yarn production, and economic trends affecting the European textile market. These factors could mitigate or exacerbate the projected declines in production volumes.
