India: Silk Yarn Market 2023

Silk Yarn Market Size in India

After nine years of growth, the Indian silk yarn market decreased by -8.4% to $X in 2021. In general, consumption, however, enjoyed a strong increase. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Silk Yarn Production in India

In value terms, silk yarn production fell modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by 15%. Silk yarn production peaked at $X in 2020, and then dropped slightly in the following year.

Silk Yarn Exports

Exports from India

In 2021, approx. X tons of silk yarn and yarn spun from silk waste were exported from India; surging by 12% compared with the previous year. Over the period under review, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 83% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, silk yarn exports surged to $X in 2021. In general, exports recorded tangible growth. The growth pace was the most rapid in 2013 when exports increased by 50%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Nepal (X tons), China (X tons) and Bhutan (X tons) were the main destinations of silk yarn exports from India, together comprising 66% of total exports.

From 2012 to 2021, the biggest increases were recorded for Bhutan (with a CAGR of +196.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for silk yarn exported from India were the United States ($X), Nepal ($X) and Bhutan ($X), with a combined 63% share of total exports.

In terms of the main countries of destination, Bhutan, with a CAGR of +269.1%, 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

In 2021, the average silk yarn export price amounted to $X per ton, surging by 31% against the previous year. In general, the export price, however, continues to indicate a perceptible slump. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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 Bhutan (+24.4%), while the prices for the other major destinations experienced more modest paces of growth.

Silk Yarn Imports

Imports into India

In 2021, silk yarn imports into India soared to X tons, with an increase of 23% against 2020 figures. Overall, imports, however, showed a abrupt contraction. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, silk yarn imports soared to $X in 2021. In general, imports, however, saw a abrupt downturn. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons) and Vietnam (X tons) were the main suppliers of silk yarn imports to India.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of -4.7%).

In value terms, Vietnam ($X) and China ($X) constituted the largest silk yarn suppliers to India.

In terms of the main suppliers, Vietnam, with a CAGR of +4.0%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

The average silk yarn import price stood at $X per ton in 2021, with an increase of 4.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.3%. The growth pace was the most rapid in 2017 when the average import price increased by 26%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+9.1%).

Source: IndexBox Platform

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