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Thread consumption is a multiple of seam length that depends on stitch type: about 2.5-3 times for lockstitch, 4 for chainstitch, 12-16 for three-thread overlock and 18-22 for five-thread safety stitch. A wastage allowance of 10-20% covers thread trimmed at seam ends, re-threading and cone tails.
Thread consumption
Thread = seam length x stitch ratio x (1 + wastage %)
The loopers wrap thread around the fabric edge, so several metres of thread are laid for every metre of seam. Wider bite and higher stitch density increase it further.
Yes. Thicker fabric increases the thread needed per stitch to traverse the material, so heavyweight denim consumes noticeably more than the same seam length in shirting.