Narrow Woven Fabric Price in China Increases by 4%, Reaching an Average of $9,244 per Ton

China Narrow Woven Fabric Export Price in December 2022

In December 2022, the narrow woven fabric price stood at $9,244 per ton (FOB, China), increasing by 4.1% against the previous month. Over the period under review, the export price continues to indicate a modest expansion. The pace of growth appeared the most rapid in March 2022 an increase of 9.1% month-to-month. Over the period under review, the average export prices attained the peak figure at $9,556 per ton in August 2022; however, from September 2022 to December 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Hong Kong SAR ($19,853 per ton), while the average price for exports to Russia ($3,764 per ton) was amongst the lowest.

From January 2022 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

China Narrow Woven Fabric Export Prices by Type

There were significant differences in the average prices for the major types of exported product. In December 2022, the product with the highest price was labels, badges and similar articles; of textile materials, in the piece, in strips or cut to shape or size, not embroidered ($13,185 per ton), while the average price for exports of fabrics; narrow woven, other than goods of heading no. 5807; narrow fabrics consisting of warp without weft assembled by means of an adhesive (bolducs) ($8,739 per ton) was amongst the lowest.

From January 2022 to December 2022, the most notable rate of growth in terms of prices was recorded for the following types: braids in the piece; ornamental trimmings in the piece, without embroidery, other than knitted or crocheted; tassels, pompons and similar articles (+3.0%), while the prices for the other products experienced more modest paces of growth.

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China Narrow Woven Fabric Exports

Narrow woven fabric exports from China dropped modestly to 23K tons in December 2022, remaining constant against November 2022. In general, exports saw a noticeable descent. The most prominent rate of growth was recorded in March 2022 when exports increased by 47% m-o-m. The exports peaked at 34K tons in January 2022; however, from February 2022 to December 2022, the exports failed to regain momentum.

In value terms, narrow woven fabric exports expanded slightly to $217M (IndexBox estimates) in December 2022. Over the period under review, exports showed a perceptible decline. The pace of growth appeared the most rapid in March 2022 with an increase of 60% m-o-m. The exports peaked at 284K tons in January 2022; however, from February 2022 to December 2022, the exports stood at a somewhat lower figure.

China Narrow Woven Fabric Exports by Type

Fabrics; narrow woven, other than goods of heading no. 5807; narrow fabrics consisting of warp without weft assembled by means of an adhesive (bolducs) (19K tons) was the largest type of narrow woven fabric exported from China, accounting for a 82% share of total exports. Moreover, fabrics; narrow woven, other than goods of heading no. 5807; narrow fabrics consisting of warp without weft assembled by means of an adhesive (bolducs) exceeded the volume of the second product type, labels, badges and similar articles; of textile materials, in the piece, in strips or cut to shape or size, not embroidered (2.3K tons), eightfold.

From January 2022 to December 2022, the average monthly growth rate of the volume of export of fabrics; narrow woven, other than goods of heading no. 5807; narrow fabrics consisting of warp without weft assembled by means of an adhesive (bolducs) stood at -3.1%. With regard to the other exported products, the following average monthly rates of growth were recorded: labels, badges and similar articles; of textile materials, in the piece, in strips or cut to shape or size, not embroidered (-5.7% per month) and braids in the piece; ornamental trimmings in the piece, without embroidery, other than knitted or crocheted; tassels, pompons and similar articles (-3.0% per month).

In value terms, fabrics; narrow woven, other than goods of heading no. 5807; narrow fabrics consisting of warp without weft assembled by means of an adhesive (bolducs) ($168M) remains the largest type of narrow woven fabric exported from China, comprising 77% of total exports. The second position in the ranking was held by labels, badges and similar articles; of textile materials, in the piece, in strips or cut to shape or size, not embroidered ($31M), with a 14% share of total exports.

From January 2022 to December 2022, the average monthly growth rate of the export volume of fabrics; narrow woven, other than goods of heading no. 5807; narrow fabrics consisting of warp without weft assembled by means of an adhesive (bolducs) stood at -2.0%. With regard to the other exported products, the following average monthly rates of growth were recorded: labels, badges and similar articles; of textile materials, in the piece, in strips or cut to shape or size, not embroidered (-5.1% per month) and braids in the piece; ornamental trimmings in the piece, without embroidery, other than knitted or crocheted; tassels, pompons and similar articles (-0.2% per month).

China Narrow Woven Fabric Exports by Country

Vietnam (1.7K tons), Russia (1.5K tons) and Hong Kong SAR (1.4K tons) were the main destinations of narrow woven fabric exports from China, together accounting for 19% of total exports.

From January 2022 to December 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +0.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for narrow woven fabric exported from China were Hong Kong SAR ($27M), Vietnam ($22M) and Cambodia ($17M), with a combined 31% share of total exports. The United States, Bangladesh, Indonesia, India, Myanmar, the Philippines, Russia, Nigeria, Mexico and Brazil lagged somewhat behind, together accounting for a further 32%.

Nigeria, with a CAGR of +4.3%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Rising Demand in Textile and Packaging Industries Drives Up Prices of Narrow Woven Products in China

The price increase is being attributed to a rise in demand for narrow woven products, particularly in the textile and packaging industries. The demand has led to a tightening of supply, which is driving prices up. Additionally, there has been an increase in the cost of raw materials, such as cotton and polyester, which have also contributed to the rise in prices. Despite the increase in prices, the narrow woven fabric industry in China remains strong and continues to be a valuable sector in the country's economy.

Source: IndexBox Market Intelligence Platform