Asia: Technical Textiles Market 2024

Technical Textiles Market Size in Asia

In 2023, the Asian technical textiles market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2023 and is likely to continue growth in the near future.

Technical Textiles Production in Asia

In value terms, technical textiles production dropped to $X in 2023 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2023, production growth failed to regain momentum.

Technical Textiles Exports

Exports in Asia

For the third year in a row, Asia recorded growth in shipments abroad of textile products and articles for technical uses, which increased by X% to X tons in 2023. Total exports indicated a tangible increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2023 and are likely to continue growth in years to come.

In value terms, technical textiles exports declined modestly to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of export peaked at $X in 2022, and then dropped slightly in the following year.

Exports by Country

China dominates exports structure, finishing at X tons, which was near X% of total exports in 2023. It was distantly followed by India (X tons), making up a X% share of total exports. The following exporters - Japan (X tons), South Korea (X tons), Turkey (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons) and Israel (X tons) - together made up X% of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, Israel (X%), India (X%), Turkey (X%) and Japan (X%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. Malaysia experienced a relatively flat trend pattern. By contrast, South Korea (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of India, China, Israel and Turkey increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest technical textiles supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2023, the average annual growth rate of value in China stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, falling by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per ton), while India ($X per ton) was amongst the lowest.

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

Technical Textiles Imports

Imports in Asia

In 2023, purchases abroad of textile products and articles for technical uses increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. The volume of import peaked in 2023 and is likely to continue growth in the near future.

In value terms, technical textiles imports contracted to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

The Philippines represented the largest importing country with an import of around X tons, which finished at X% of total imports. India (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (X%) and Japan (X%). The following importers - China (X tons), Indonesia (X tons), Thailand (X tons), Vietnam (X tons), South Korea (X tons), Turkey (X tons), Taiwan (Chinese) (X tons), the United Arab Emirates (X tons) and Bangladesh (X tons) - together made up X% of total imports.

The Philippines was also the fastest-growing in terms of the textile products and articles for technical uses imports, with a CAGR of X% from 2012 to 2023. At the same time, Turkey (X%), Bangladesh (X%), India (X%), Japan (X%), Malaysia (X%), Taiwan (Chinese) (X%), Indonesia (X%) and Thailand (X%) displayed positive paces of growth. Vietnam and South Korea experienced a relatively flat trend pattern. By contrast, China (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the Philippines increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of imports in 2023, together comprising X% of total imports. Vietnam, Thailand, India, Turkey, Indonesia, the Philippines, Malaysia, Taiwan (Chinese), the United Arab Emirates and Bangladesh lagged somewhat behind, together comprising a further X%.

Among the main importing countries, the Philippines, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, 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 Asia stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the import price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2013 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was China ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform