ASEAN: Woolen Yarn Market 2024

Woolen Yarn Market Size in ASEAN

In 2023, the ASEAN woolen yarn market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Over the period under review, consumption showed a mild slump. The pace of growth appeared the most rapid in 2021 when the market value increased by X% against the previous year. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2023, consumption failed to regain momentum.

Woolen Yarn Production in ASEAN

In value terms, woolen yarn production rose slightly to $X in 2023 estimated in export price. Overall, production, however, recorded a perceptible contraction. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Woolen Yarn Exports

Exports in ASEAN

In 2023, overseas shipments of yarn of wool increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, exports recorded strong growth. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

In value terms, woolen yarn exports stood at $X in 2023. In general, exports posted strong growth. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, Thailand (X tons) represented the key exporter of yarn of wool, constituting X% of total exports. It was distantly followed by Vietnam (X tons), generating a X% share of total exports. Malaysia (X tons) and Indonesia (X tons) held a minor share of total exports.

Thailand was also the fastest-growing in terms of the yarn of wool exports, with a CAGR of X% from 2012 to 2023. At the same time, Vietnam (X%) displayed positive paces of growth. By contrast, Indonesia (X%) and Malaysia (X%) illustrated a downward trend over the same period. While the share of Thailand (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Indonesia (X p.p.) and Malaysia (X p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest woolen yarn supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Thailand totaled X%. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Malaysia (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, remaining relatively unchanged against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Woolen Yarn Imports

Imports in ASEAN

In 2023, the amount of yarn of wool imported in ASEAN shrank to X tons, waning by X% against 2022 figures. Overall, imports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. The volume of import peaked at X tons in 2022, and then contracted in the following year.

In value terms, woolen yarn imports fell to $X in 2023. In general, imports, however, saw a prominent increase. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then dropped in the following year.

Imports by Country

In 2023, Vietnam (X tons) was the main importer of yarn of wool, creating X% of total imports. Cambodia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (X%). The following importers - Indonesia (X tons), Malaysia (X tons), Myanmar (X tons) and the Philippines (X tons) - together made up X% of total imports.

Imports into Vietnam increased at an average annual rate of X% from 2012 to 2023. At the same time, Myanmar (X%), Cambodia (X%) and the Philippines (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2023. Indonesia experienced a relatively flat trend pattern. By contrast, Malaysia (X%) and Thailand (X%) illustrated a downward trend over the same period. Vietnam (X p.p.), Cambodia (X p.p.) and Myanmar (X p.p.) significantly strengthened its position in terms of the total imports, while Malaysia, Indonesia and Thailand saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X), Cambodia ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Myanmar, Indonesia, Malaysia and the Philippines lagged somewhat behind, together accounting for a further X%.

Myanmar, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, falling by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2023, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cambodia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Myanmar (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform