ASEAN: Woven Carpet Market 2024

Woven Carpet Market Size in ASEAN

The ASEAN woven carpet market amounted to $X in 2022, increasing by 4.4% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Woven Carpet Production in ASEAN

In value terms, woven carpet production reached $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 31%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Woven Carpet Exports

Exports in ASEAN

In 2022, the amount of woven carpets and other woven textile coverings exported in ASEAN skyrocketed to X square meters, growing by 46% on 2021 figures. Total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.7% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, woven carpet exports fell to $X in 2022. Overall, exports, however, continue to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by 8.3%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia represented the main exporting country with an export of about X square meters, which reached 51% of total exports. Vietnam (X square meters) took the second position in the ranking, distantly followed by Thailand (X square meters). All these countries together took approx. 44% share of total exports. The Philippines (X square meters) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +66.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest woven carpet supplying countries in ASEAN were Thailand ($X), Vietnam ($X) and Indonesia ($X), with a combined 93% share of total exports. These countries were followed by the Philippines, which accounted for a further 3.4%.

In terms of the main exporting countries, the Philippines, with a CAGR of +44.4%, recorded the highest growth rate of 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 square meter in 2022, shrinking by -37.9% against the previous year. In general, the export price recorded a deep reduction. The growth pace was the most rapid in 2013 an increase of 8.9% against the previous year. As a result, the export price reached the peak level of $X per square meter. From 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per square meter), while Indonesia ($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 Thailand (-1.9%), while the other leaders experienced a decline in the export price figures.

Woven Carpet Imports

Imports in ASEAN

In 2022, purchases abroad of woven carpets and other woven textile coverings increased by 5.1% to X square meters, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 20% against the previous year. Over the period under review, imports reached the peak figure at X square meters in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, woven carpet imports totaled $X in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2013 when imports increased by 22%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X square meters) was the largest importer of woven carpets and other woven textile coverings, constituting 43% of total imports. Indonesia (X square meters) ranks second in terms of the total imports with a 17% share, followed by Thailand (16%), the Philippines (10%) and Singapore (7.2%). Vietnam (X square meters) and Myanmar (X square meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to woven carpet imports into Malaysia stood at +5.2%. At the same time, Myanmar (+24.2%), the Philippines (+7.8%) and Thailand (+7.0%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +24.2% from 2012-2022. By contrast, Indonesia (-2.5%), Singapore (-4.6%) and Vietnam (-10.4%) illustrated a downward trend over the same period. Malaysia (+11 p.p.), Thailand (+6.3 p.p.), the Philippines (+4.4 p.p.) and Myanmar (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Vietnam, Singapore and Indonesia saw its share reduced by -6.6%, -6.8% and -9.7% from 2012 to 2022, respectively.

In value terms, Malaysia ($X), Indonesia ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 73% of total imports. Singapore, the Philippines, Vietnam and Myanmar lagged somewhat behind, together comprising a further 25%.

Among the main importing countries, Myanmar, with a CAGR of +16.4%, recorded 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 2022, the import price in ASEAN amounted to $X per square meter, declining by -1.9% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 19%. As a result, import price reached the peak level of $X per square meter. From 2015 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per square meter), while the Philippines ($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 Indonesia (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform