U.S.: Silk Fabric Market 2023

Silk Fabric Market Size in the U.S.

The U.S. silk fabric market expanded slightly to $X in 2021, increasing by 2.8% against the previous year. In general, consumption, however, showed buoyant growth. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Silk Fabric Production in the U.S.

In value terms, silk fabric production rose remarkably to $X in 2021. Overall, production, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2019 when the production volume increased by 90% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Silk Fabric Exports

Exports from the U.S.

In 2021, exports of woven fabrics of silk or of silk waste from the United States fell to X square meters, approximately equating 2020 figures. In general, exports showed a deep setback. The most prominent rate of growth was recorded in 2017 when exports increased by 43%. The exports peaked at X square meters in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, silk fabric exports skyrocketed to $X in 2021. Overall, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 51% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

India (X square meters) was the main destination for silk fabric exports from the United States, accounting for a 38% share of total exports. Moreover, silk fabric exports to India exceeded the volume sent to the second major destination, Canada (X square meters), twofold. Italy (X square meters) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume to India amounted to +18.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-21.7% per year) and Italy (-15.6% per year).

In value terms, India ($X) emerged as the key foreign market for woven fabrics of silk or of silk waste exports from the United States, comprising 34% of total exports. The second position in the ranking was taken by Canada ($X), with a 16% share of total exports. It was followed by Italy, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India amounted to +26.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-14.1% per year) and Italy (-4.1% per year).

Export Prices by Country

In 2021, the average silk fabric export price amounted to $X per square meter, surging by 46% against the previous year. In general, the export price showed a buoyant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per square meter), while the average price for exports to Montenegro ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+21.2%), while the prices for the other major destinations experienced more modest paces of growth.

Silk Fabric Imports

Imports into the U.S.

In 2021, imports of woven fabrics of silk or of silk waste into the United States shrank rapidly to X square meters, which is down by -40.5% compared with the previous year. Over the period under review, imports recorded a abrupt curtailment. The smallest decline of -6.1% was in 2018. Imports peaked at X square meters in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, silk fabric imports reduced slightly to $X in 2021. In general, imports faced a deep contraction. The most prominent rate of growth was recorded in 2018 with an increase of 0.3%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

India (X square meters), South Korea (X square meters) and China (X square meters) were the main suppliers of silk fabric imports to the United States, with a combined 80% share of total imports. Italy, Japan, the UK and Thailand lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +11.9%), while purchases for the other leaders experienced a decline.

In value terms, the largest silk fabric suppliers to the United States were India ($X), South Korea ($X) and Italy ($X), with a combined 73% share of total imports. China, Japan, the UK and Thailand lagged somewhat behind, together accounting for a further 23%.

Japan, with a CAGR of +6.4%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average silk fabric import price stood at $X per square meter in 2021, rising by 62% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.9%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+18.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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