China: Silk Yarn Market 2023

Silk Yarn Market Size in China

In 2021, the Chinese silk yarn market increased by 3% to $X for the first time since 2016, thus ending a four-year declining trend. Overall, consumption, however, continues to indicate a perceptible downturn. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Silk Yarn Production in China

In value terms, silk yarn production rose to $X in 2021 estimated in export price. Over the period under review, production, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2016 with an increase of 29% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Silk Yarn Exports

Exports from China

In 2021, silk yarn exports from China skyrocketed to X tons, jumping by 22% compared with 2020 figures. Over the period under review, exports, however, faced a deep setback. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, silk yarn exports soared to $X in 2021. Overall, exports, however, showed a abrupt setback. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Italy (X tons), Japan (X tons) and Pakistan (X tons) were the main destinations of silk yarn exports from China, together comprising 48% of total exports. These countries were followed by India, Mexico, Nepal, Slovenia, Madagascar, Indonesia, Malaysia, Iraq, Germany and Hong Kong SAR, which together accounted for a further 38%.

From 2012 to 2021, the biggest increases were recorded for Slovenia (with a CAGR of +80.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for silk yarn exported from China were Italy ($X), Japan ($X) and India ($X), with a combined 52% share of total exports. Slovenia, Madagascar, Pakistan, Nepal, Indonesia, Germany, Mexico, Hong Kong SAR, Iraq and Malaysia lagged somewhat behind, together comprising a further 29%.

Among the main countries of destination, Slovenia, with a CAGR of +94.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average silk yarn export price stood at $X per ton in 2021, flattening at the previous year. Over the last nine years, it increased at an average annual rate of +3.9%. The pace of growth was the most pronounced in 2016 when the average export price increased by 24% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.

Silk Yarn Imports

Imports into China

In 2021, purchases abroad of silk yarn and yarn spun from silk waste was finally on the rise to reach X tons after three years of decline. Overall, imports, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when imports increased by 38% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, silk yarn imports surged to $X in 2021. In general, imports, however, saw a noticeable decline. The growth pace was the most rapid in 2013 when imports increased by 101%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Japan (X tons), Italy (X tons) and Uzbekistan (X tons) were the main suppliers of silk yarn imports to China, together accounting for 91% of total imports. These countries were followed by Thailand, India, Vietnam and South Korea, which together accounted for a further 7.6%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +91.8%), while imports for the other leaders experienced a decline.

In value terms, Italy ($X), Japan ($X) and Thailand ($X) constituted the largest silk yarn suppliers to China, with a combined 97% share of total imports.

In terms of the main suppliers, Thailand, with a CAGR of +88.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average silk yarn import price stood at $X per ton in 2021, surging by 51% against the previous year. Over the period under review, the import price continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 an increase of 80% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Democratic People's Republic of Korea (+33.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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