Asia: Silk Yarn Market 2023

Silk Yarn Market Size in Asia

The Asian silk yarn market shrank slightly to $X in 2021, almost unchanged from the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Silk Yarn Production in Asia

In value terms, silk yarn production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 12%. The level of production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Silk Yarn Exports

Exports in Asia

In 2021, after three years of decline, there was significant growth in overseas shipments of silk yarn and yarn spun from silk waste, when their volume increased by 21% to X tons. Over the period under review, exports, however, showed a abrupt decrease. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

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

Exports by Country

China was the key exporting country with an export of around X tons, which resulted at 74% of total exports. Vietnam (X tons) held the second position in the ranking, followed by India (X tons). All these countries together held near 18% share of total exports. Thailand (X tons) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of -11.3% from 2012 to 2021. 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, with a CAGR of +8.4% from 2012-2021. By contrast, Vietnam (-6.9%) illustrated a downward trend over the same period. While the share of India (+4.6 p.p.), Vietnam (+3.3 p.p.) and Thailand (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-8.5 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest silk yarn supplier in Asia, comprising 77% of total exports. The second position in the ranking was taken by Vietnam ($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 amounted to -7.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (-7.6% per year) and India (+4.4% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, standing approx. at the previous year. Over the last nine-year period, it increased at an average annual rate of +2.8%. The pace of growth appeared the most rapid in 2016 an increase of 16% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: 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

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 downturn. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, silk yarn imports soared to $X in 2021. In general, imports, however, showed a deep setback. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Japan (X tons), distantly followed by Pakistan (X tons), India (X tons) and Nepal (X tons) were the major importers of silk yarn and yarn spun from silk waste, together constituting 65% of total imports. The following importers - Vietnam (X tons), Thailand (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Malaysia (X tons), South Korea (X tons), Lao People's Democratic Republic (X tons), Turkey (X tons) and Iraq (X tons) - together made up 27% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading 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 ($X) constitutes the largest market for imported silk yarn and yarn spun from silk waste in Asia, comprising 43% of total imports. The second position in the ranking was taken by India ($X), with a 12% share of total imports. It was followed by Vietnam, with a 6.3% share.

In Japan, silk yarn imports decreased 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 stood at $X per ton in 2021, growing by 2.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2018 an increase of 31% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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