In 2023, the import of flax yarn to the US was considerably higher than the forecast for 2024, which stands at 1.7706 million USD. The subsequent years indicate a gradual decline in value, showcasing a continual downward trend through 2028. Notably, the year-on-year variation declines steadily, highlighting a decreasing demand or possible substitution with alternative materials or local production. The compound annual growth rate over the five-year period reflects this contracting market.
Future trends to watch include:
- Shifts in consumer preferences towards sustainable and eco-friendly materials, potentially impacting flax yarn demand adversely.
- Technological advancements in textile production that could either diminish or revive flax yarn usage.
- Trade policy changes under new administrations that may affect import tariffs and competitiveness.