China: Woolen Fabric Market 2024

Woolen Fabric Market Size in China

After four years of decline, the Chinese woolen fabric market increased by X% to $X in 2023. Over the period under review, consumption, however, continues to indicate a mild downturn. As a result, consumption attained the peak level of $X. From 2015 to 2023, the growth of the market failed to regain momentum.

Woolen Fabric Production in China

In value terms, woolen fabric production dropped slightly to $X in 2023 estimated in export price. In general, production showed a noticeable slump. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Woolen fabric production peaked at $X in 2014; however, from 2015 to 2023, production remained at a lower figure.

Woolen Fabric Exports

Exports from China

After two years of growth, overseas shipments of woven woolen fabrics decreased by X% to X square meters in 2023. Overall, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. The exports peaked at X square meters in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, woolen fabric exports declined significantly to $X in 2023. Over the period under review, exports showed a deep downturn. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Vietnam (X square meters) was the main destination for woolen fabric exports from China, accounting for a X% share of total exports. Moreover, woolen fabric exports to Vietnam exceeded the volume sent to the second major destination, Japan (X square meters), threefold. Indonesia (X square meters) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Vietnam totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Indonesia (X% per year).

In value terms, the largest markets for woolen fabric exported from China were Vietnam ($X), Indonesia ($X) and Japan ($X), with a combined X% share of total exports. India, Cambodia, Turkey, Bangladesh, Myanmar, Nigeria, Italy, Russia, the Dominican Republic and Democratic People's Republic of Korea lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Nigeria, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2023, the average woolen fabric export price amounted to $X per square meter, with a decrease of X% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. As a result, the export price attained the peak level of $X per square meter. From 2015 to 2023, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per square meter), while the average price for exports to the Dominican Republic ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Woolen Fabric Imports

Imports into China

After two years of growth, supplies from abroad of woven woolen fabrics decreased by X% to X square meters in 2023. In general, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs at X square meters in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, woolen fabric imports rose markedly to $X in 2023. Over the period under review, imports saw a noticeable decline. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Italy (X square meters), Japan (X square meters) and South Korea (X square meters) were the main suppliers of woolen fabric imports to China, with a combined X% share of total imports. The UK and Ethiopia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for the UK (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, Italy ($X) constituted the largest supplier of woven woolen fabrics to China, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by the UK, with a X% share.

From 2012 to 2023, the average annual growth rate of value from Italy amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the UK (X% per year).

Import Prices by Country

In 2023, the average woolen fabric import price amounted to $X per square meter, rising by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The import price peaked in 2023 and is likely to continue growth in years to come.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform