Malaysia: Silk Yarn Market 2024

Silk Yarn Market Size in Malaysia

The Malaysian silk yarn market declined to $X in 2023, therefore, remained relatively stable against the previous year. In general, consumption saw a deep slump. The growth pace was the most rapid in 2016 when the market value increased by X% against the previous year. Silk yarn consumption peaked at $X in 2014; however, from 2015 to 2023, consumption remained at a lower figure.

Silk Yarn Production in Malaysia

In value terms, silk yarn production totaled $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a deep setback. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2023, production growth failed to regain momentum.

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Silk Yarn Exports

Exports from Malaysia

Silk yarn exports from Malaysia skyrocketed to X kg in 2023, rising by X% compared with 2022. Over the period under review, exports, however, recorded a precipitous contraction. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, silk yarn exports dropped dramatically to $X in 2023. Overall, exports, however, recorded a sharp decline. The growth pace was the most rapid in 2022 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X kg) was the main destination for silk yarn exports from Malaysia, accounting for a X% share of total exports. Moreover, silk yarn exports to Singapore exceeded the volume sent to the second major destination, South Africa (X kg), more than tenfold.

From 2012 to 2023, the average annual growth rate of volume to Singapore stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (X% per year) and Brunei Darussalam (X% per year).

In value terms, Singapore ($X) remains the key foreign market for silk yarn and yarn spun from silk waste exports from Malaysia, comprising X% of total exports. The second position in the ranking was held by South Africa ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to Singapore totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (X% per year) and Brunei Darussalam (X% per year).

Export Prices by Country

The average silk yarn export price stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the export price continues to indicate a abrupt decrease. The growth pace was the most rapid in 2022 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined dramatically in the following year.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Brunei Darussalam ($X per ton) was amongst the lowest.

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

Silk Yarn Imports

Imports into Malaysia

Silk yarn imports into Malaysia contracted significantly to X tons in 2023, waning by X% on the previous year. Overall, imports saw a abrupt decline. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2023, the growth of imports failed to regain momentum.

In value terms, silk yarn imports contracted significantly to $X in 2023. Over the period under review, imports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2022 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Indonesia (X tons), Taiwan (Chinese) (X tons) and China (X tons) were the main suppliers of silk yarn imports to Malaysia, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of X%), while imports for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of silk yarn and yarn spun from silk waste to Malaysia, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2023, the average silk yarn import price amounted to $X per ton, falling by X% against the previous year. Overall, the import price, however, posted a perceptible increase. The growth pace was the most rapid in 2019 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2023, import prices failed to regain momentum.

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

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

Source: IndexBox Platform