U.S.: Silk Yarn Market 2023

Silk Yarn Market Size in the U.S.

The U.S. silk yarn market totaled $X in 2021, picking up by 5.4% against the previous year. Over the period under review, consumption, however, recorded a noticeable contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Silk Yarn Production in the U.S.

In value terms, silk yarn production expanded rapidly to $X in 2021. Overall, production, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 24%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Silk Yarn Exports

Exports from the U.S.

In 2021, exports of silk yarn and yarn spun from silk waste from the United States reduced slightly to X tons, with a decrease of -4.2% against 2020. In general, exports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 437%. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, silk yarn exports dropped significantly to $X in 2021. Over the period under review, exports saw a pronounced contraction. The pace of growth appeared the most rapid in 2014 with an increase of 72% against the previous year. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X tons) was the main destination for silk yarn exports from the United States, accounting for a 72% share of total exports. Moreover, silk yarn exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), ninefold. Costa Rica (X tons) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico totaled +16.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-11.6% per year) and Costa Rica (+37.2% per year).

In value terms, the largest markets for silk yarn exported from the United States were Mexico ($X), Costa Rica ($X) and the UK ($X), together accounting for 65% of total exports.

Costa Rica, with a CAGR of +20.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average silk yarn export price stood at $X per ton in 2021, reducing by -28% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 478%. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, the 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 the UK ($X per ton), while the average price for exports to Mexico ($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 Jamaica (+95.3%), while the prices for the other major destinations experienced more modest paces of growth.

Silk Yarn Imports

Imports into the U.S.

In 2021, purchases abroad of silk yarn and yarn spun from silk waste increased by 81% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, silk yarn imports soared to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest silk yarn supplier to the United States, with a 54% share of total imports. Moreover, silk yarn imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. India (X tons) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+24.7% per year) and India (+10.2% per year).

In value terms, the largest silk yarn suppliers to the United States were China ($X), Mexico ($X) and India ($X), with a combined 66% share of total imports. These countries were followed by Switzerland, Japan, Italy, Peru, the UK and Nicaragua, which together accounted for a further 28%.

Among the main suppliers, Peru, with a CAGR of +55.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average silk yarn import price amounted to $X per ton, dropping by -19.3% against the previous year. Overall, the import price showed a noticeable decline. The most prominent rate of growth was recorded in 2019 an increase of 8.9%. The import price peaked at $X per ton in 2013; however, from 2014 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 the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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