Thailand: Knotted Carpet Market 2024

Knotted Carpet Market Size in Thailand

In 2022, the Thai knotted carpet market increased by 7.2% to $X, rising for the second consecutive year after two years of decline. In general, consumption showed a strong increase. Knotted carpet consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Knotted Carpet Exports

Exports from Thailand

In 2022, overseas shipments of knotted carpets and other knotted textile floor coverings increased by 413% to X square meters, rising for the second year in a row after four years of decline. In general, exports, however, faced a abrupt decrease. The exports peaked at X square meters in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, knotted carpet exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a abrupt descent. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X square meters), Malaysia (X square meters) and Cambodia (X square meters) were the main destinations of knotted carpet exports from Thailand, together accounting for 86% of total exports. Austria, Vietnam, the United Arab Emirates, Japan, Indonesia, Saudi Arabia and Spain lagged somewhat behind, together comprising a further 5.2%.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +103.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for knotted carpet exported from Thailand were Cambodia ($X), the United States ($X) and Malaysia ($X), together accounting for 64% of total exports. The United Arab Emirates, Japan, Vietnam, Austria, Indonesia, Spain and Saudi Arabia lagged somewhat behind, together comprising a further 12%.

Austria, with a CAGR of +120.5%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average knotted carpet export price stood at $X per square meter in 2022, declining by -60.7% against the previous year. In general, the export price recorded a noticeable descent. The pace of growth appeared the most rapid in 2013 when the average export price increased by 89%. The export price peaked at $X per square meter in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per square meter), while the average price for exports to Austria ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+22.0%), while the prices for the other major destinations experienced more modest paces of growth.

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Knotted Carpet Imports

Imports into Thailand

In 2022, supplies from abroad of knotted carpets and other knotted textile floor coverings increased by 86% to X square meters, rising for the second year in a row after two years of decline. Overall, imports, however, continue to indicate a slight reduction. The pace of growth appeared the most rapid in 2016 when imports increased by 245% against the previous year. As a result, imports reached the peak of X square meters. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, knotted carpet imports dropped to $X in 2022. Over the period under review, imports, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 124%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X square meters) constituted the largest supplier of knotted carpet to Thailand, accounting for a 73% share of total imports. Moreover, knotted carpet imports from China exceeded the figures recorded by the second-largest supplier, India (X square meters), fivefold. Estonia (X square meters) ranked third in terms of total imports with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+9.8% per year) and Estonia (0.0% per year).

In value terms, China ($X) constituted the largest supplier of knotted carpets and other knotted textile floor coverings to Thailand, comprising 54% of total imports. The second position in the ranking was taken by India ($X), with a 19% share of total imports. It was followed by Pakistan, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+0.3% per year) and Pakistan (+4.5% per year).

Import Prices by Country

In 2022, the average knotted carpet import price amounted to $X per square meter, shrinking by -52.4% against the previous year. Over the period under review, the import price saw a slight downturn. The pace of growth appeared the most rapid in 2019 when the average import price increased by 100% against the previous year. The import price peaked at $X per square meter in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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