Eastern Asia: Woolen Yarn Market 2024

Woolen Yarn Market Size in Eastern Asia

The East Asian woolen yarn market dropped to $X in 2022, waning by X% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Woolen Yarn Production in Eastern Asia

In value terms, woolen yarn production contracted modestly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Woolen Yarn Exports

Exports in Eastern Asia

In 2022, woolen yarn exports in Eastern Asia declined dramatically to X tons, with a decrease of X% compared with the previous year's figure. Over the period under review, exports saw a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, woolen yarn exports dropped remarkably to $X in 2022. Overall, exports continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China represented the main exporter of yarn of wool in Eastern Asia, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. It was distantly followed by Hong Kong SAR (X tons), creating a X% share of total exports. South Korea (X tons) and Taiwan (Chinese) (X tons) took a minor share of total exports.

Exports from China decreased at an average annual rate of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, South Korea (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest woolen yarn supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled X%. In the other countries, the average annual rates were as follows: Hong Kong SAR (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, approximately reflecting the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2019 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Woolen Yarn Imports

Imports in Eastern Asia

Woolen yarn imports dropped markedly to X tons in 2022, waning by X% on the previous year's figure. In general, imports showed a abrupt decline. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, woolen yarn imports reduced markedly to $X in 2022. Overall, imports saw a abrupt descent. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Japan (X tons), China (X tons) and Hong Kong SAR (X tons) represented roughly X% of total imports in 2022. It was distantly followed by South Korea (X tons), achieving a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest woolen yarn importing markets in Eastern Asia were Hong Kong SAR ($X), China ($X) and Japan ($X), with a combined X% share of total imports. South Korea lagged somewhat behind, comprising a further X%.

South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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