Asia-Pacific: Silk Yarn Market 2023

Silk Yarn Market Size in Asia-Pacific

The Asia-Pacific silk yarn market contracted slightly to $X in 2021, approximately reflecting the previous year. The market value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Silk Yarn Production in Asia-Pacific

In value terms, silk yarn production reached $X in 2021 estimated in export price. Overall, production, however, recorded a slight increase. The pace of growth was the most pronounced in 2016 with an increase of 11% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Silk Yarn Exports

Exports in Asia-Pacific

After three years of decline, shipments abroad of silk yarn and yarn spun from silk waste increased by 20% to X tons in 2021. Overall, exports, however, showed a abrupt downturn. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, silk yarn exports soared to $X in 2021. Over the period under review, exports, however, showed a abrupt downturn. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China was the largest exporting country with an export of about X tons, which finished at 75% of total exports. Vietnam (X tons) took a 12% share (based on physical terms) of total exports, which put it in second place, followed by India (5.7%). Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to silk yarn exports from China stood at -11.3%. At the same time, India (+8.4%) and Thailand (+2.7%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +8.4% from 2012-2021. By contrast, Vietnam (-6.9%) illustrated a downward trend over the same period. India (+4.7 p.p.), Vietnam (+3.6 p.p.) and Thailand (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -7% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest silk yarn supplier in Asia-Pacific, comprising 78% of total exports. The second position in the ranking was held by Vietnam ($X), with a 13% share of total exports. It was followed by India, with a 3% share.

From 2012 to 2021, the average annual growth rate of value in China stood at -7.8%. In the other countries, the average annual rates were as follows: Vietnam (-7.6% per year) and India (+4.4% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, growing by 1.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2016 when the export price increased by 16% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.9%), while the other leaders experienced mixed trends in the export price figures.

Silk Yarn Imports

Imports in Asia-Pacific

In 2021, overseas purchases of silk yarn and yarn spun from silk waste were finally on the rise to reach X tons after six years of decline. Over the period under review, imports, however, saw a deep reduction. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, silk yarn imports expanded remarkably to $X in 2021. Overall, imports, however, recorded a abrupt slump. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Japan (X tons), distantly followed by Pakistan (X tons), India (X tons), Nepal (X tons) and Vietnam (X tons) were the key importers of silk yarn and yarn spun from silk waste, together achieving 74% of total imports. The following importers - Thailand (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Malaysia (X tons), South Korea (X tons) and Lao People's Democratic Republic (X tons) - together made up 19% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Malaysia (with a CAGR of +20.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported silk yarn and yarn spun from silk waste in Asia-Pacific, comprising 46% of total imports. The second position in the ranking was held by India ($X), with a 13% share of total imports. It was followed by Vietnam, with a 6.8% share.

In Japan, silk yarn imports shrank by an average annual rate of -7.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: India (-5.0% per year) and Vietnam (+5.0% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, approximately mirroring the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2018 when the import price increased by 32% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :