ASEAN: Hand-Made Lace Market 2024

Hand-Made Lace Market Size in ASEAN

The ASEAN hand-made lace market expanded rapidly to $X in 2022, rising by 14% against the previous year. Over the period under review, consumption enjoyed a strong expansion. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in years to come.

Hand-Made Lace Production in ASEAN

In value terms, hand-made lace production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a perceptible decline. The pace of growth was the most pronounced in 2019 with an increase of 52%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Hand-Made Lace Exports

Exports in ASEAN

In 2022, overseas shipments of hand-made lace in the piece, in strips or in motifs increased by 7% to X tons, rising for the second year in a row after three years of decline. In general, exports, however, showed a abrupt descent. The pace of growth appeared the most rapid in 2021 when exports increased by 77%. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, hand-made lace exports amounted to $X in 2022. Over the period under review, exports, however, faced a deep slump. The growth pace was the most rapid in 2021 with an increase of 47%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand was the major exporter of hand-made lace in the piece, in strips or in motifs in ASEAN, with the volume of exports amounting to X tons, which was near 42% of total exports in 2022. Cambodia (X tons) ranks second in terms of the total exports with a 24% share, followed by Singapore (20%) and Indonesia (10%). Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Cambodia (with a CAGR of +19.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest hand-made lace supplying countries in ASEAN were Thailand ($X), Singapore ($X) and Cambodia ($X), with a combined 81% share of total exports. Indonesia and Vietnam lagged somewhat behind, together accounting for a further 18%.

In terms of the main exporting countries, Vietnam, with a CAGR of +5.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, waning by -6.2% against the previous year. In general, the export price showed a abrupt shrinkage. The growth pace was the most rapid in 2018 when the export price increased by 62% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-2.9%), while the other leaders experienced a decline in the export price figures.

Hand-Made Lace Imports

Imports in ASEAN

Hand-made lace imports skyrocketed to X tons in 2022, with an increase of 47% against 2021 figures. Over the period under review, imports recorded a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 165%. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, hand-made lace imports reduced to $X in 2022. Overall, imports enjoyed a resilient increase. The growth pace was the most rapid in 2014 when imports increased by 76%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the Philippines (X tons) represented the largest importer of hand-made lace in the piece, in strips or in motifs, generating 57% of total imports. It was distantly followed by Cambodia (X tons) and Myanmar (X tons), together achieving a 38% share of total imports. Malaysia (X tons) followed a long way behind the leaders.

Imports into the Philippines increased at an average annual rate of +41.2% from 2012 to 2022. At the same time, Myanmar (+88.4%), Cambodia (+27.8%) and Malaysia (+24.8%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +88.4% from 2012-2022. The Philippines (+39 p.p.), Myanmar (+18 p.p.) and Cambodia (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cambodia ($X) constitutes the largest market for imported hand-made lace in the piece, in strips or in motifs in ASEAN, comprising 52% of total imports. The second position in the ranking was held by the Philippines ($X), with a 22% share of total imports. It was followed by Myanmar, with a 15% share.

In Cambodia, hand-made lace imports increased at an average annual rate of +29.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Philippines (+30.9% per year) and Myanmar (+58.9% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, which is down by -32.8% against the previous year. Over the period under review, the import price saw a deep slump. The growth pace was the most rapid in 2021 an increase of 41%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cambodia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform