Global Silk Yarn Market 2023

Silk Yarn Market Size

After seven years of decline, the global silk yarn market increased by 2.4% to $X in 2021. In general, consumption showed a pronounced shrinkage. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the global market remained at a somewhat lower figure.

Silk Yarn Production

In value terms, silk yarn production expanded to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a noticeable contraction. The growth pace was the most rapid in 2013 with an increase of 4.6%. As a result, production attained the peak level of $X. From 2014 to 2021, global production growth remained at a lower figure.

Silk Yarn Exports

Exports

After three years of decline, overseas shipments of silk yarn and yarn spun from silk waste increased by 17% to X tons in 2021. In general, exports, however, recorded a deep reduction. Over the period under review, the global exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, silk yarn exports soared to $X in 2021. Over the period under review, exports, however, saw a deep contraction. Over the period under review, the global exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China represented the key exporter of silk yarn and yarn spun from silk waste in the world, with the volume of exports finishing at X tons, which was approx. 49% of total exports in 2021. Romania (X tons) took the second position in the ranking, followed by Vietnam (X tons), Brazil (X tons) and Italy (X tons). All these countries together took near 35% share of total exports. The following exporters - India (X tons) and Thailand (X tons) - together made up 6.1% of total exports.

From 2012 to 2021, average annual rates of growth with regard to silk yarn exports from China stood at -11.3%. At the same time, India (+8.4%) and Thailand (+2.7%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +8.4% from 2012-2021. By contrast, Brazil (-1.7%), Romania (-2.8%), Italy (-5.7%) and Vietnam (-6.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Romania, Brazil, India, Italy and Thailand increased by +5.8, +3.3, +2.9, +1.7 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest silk yarn supplier worldwide, comprising 42% of global exports. The second position in the ranking was taken by Romania ($X), with an 18% share of global exports. It was followed by Italy, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to -7.8%. In the other countries, the average annual rates were as follows: Romania (-1.1% per year) and Italy (-3.6% per year).

Export Prices by Country

The average silk yarn export price stood at $X per ton in 2021, approximately mirroring the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2013 an increase of 15%. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.9%), while the other global leaders experienced more modest paces of growth.

Silk Yarn Imports

Imports

In 2021, purchases abroad of silk yarn and yarn spun from silk waste was finally on the rise to reach X tons after six years of decline. Overall, imports, however, saw a deep slump. Global imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, silk yarn imports surged to $X in 2021. In general, imports, however, saw a deep setback. Over the period under review, global imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Italy (X tons), distantly followed by Japan (X tons), Pakistan (X tons) and India (X tons) represented the key importers of silk yarn and yarn spun from silk waste, together constituting 50% of total imports. The United States (X tons), Nepal (X tons), Ghana (X tons), Romania (X tons), Lesotho (X tons), Austria (X tons), Vietnam (X tons), Thailand (X tons) and France (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Lesotho (with a CAGR of +19.1%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Italy ($X) constitutes the largest market for imported silk yarn and yarn spun from silk waste worldwide, comprising 35% of global imports. The second position in the ranking was taken by Japan ($X), with a 16% share of global imports. It was followed by the United States, with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Italy stood at -4.2%. In the other countries, the average annual rates were as follows: Japan (-7.6% per year) and the United States (-0.4% per year).

Import Prices by Country

The average silk yarn import price stood at $X per ton in 2021, stabilizing at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2018 an increase of 18% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while Lesotho ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+9.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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