Garments: of felt or non-wovens (not knitted or crocheted)

In 2024, garments: of felt or non-wovens (not knitted or crocheted) trade exhibited strong growth, with global flows reaching $2,336,446,657 and a three-year compound annual growth rate of -20.7% (five-year: +0.9%). The all-time peak of $15,679,446,991 was recorded in 2020; the current level is 85% below that high-water mark.

Over the 30-year observation window (1995–2024), 79% of years recorded positive growth, indicating a predominantly expanding market. Trend momentum is decelerating (-21.4% acceleration).

The World Trade Flows Characterization classifies garments: of felt or non-wovens (not knitted or crocheted) as "One-way trade" in the low price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is moderately concentrated (Herfindahl-Hirschman Index 0.169). The three largest exporters — China ($882.9M), Mexico ($203.2M), and Vietnam ($181.5M) — collectively dominate supply flows. The leading exporter has grown at -29.3% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.131). The three largest import markets are United States ($784.0M), Mexico ($153.7M), and Germany ($132.5M). The largest importing market sources from 76 different supplying countries.

Estimated substitution elasticity: -4.43. Buyers have moderate flexibility to shift sourcing, but face some switching costs.

The dominant trade corridor is China → United States at $293.0M, representing 37.4% of the importer's total demand.

The volatility score for garments: of felt or non-wovens (not knitted or crocheted) is 10 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, strong demand tailwinds create a favourable entry environment. A moderately concentrated market rewards differentiated positioning and strategic partner selection.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.