Asia: Hand-Made Lace Market 2024

Hand-Made Lace Market Size in Asia

After two years of decline, the Asian hand-made lace market increased by 12% to $X in 2022. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Hand-Made Lace Production in Asia

In value terms, hand-made lace production contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Hand-Made Lace Exports

Exports in Asia

In 2022, overseas shipments of hand-made lace in the piece, in strips or in motifs increased by 42% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports continue to indicate slight growth. The pace of growth was the most pronounced in 2019 with an increase of 111% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, hand-made lace exports expanded rapidly to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 109%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey was the key exporter of hand-made lace in the piece, in strips or in motifs in Asia, with the volume of exports resulting at X tons, which was near 51% of total exports in 2022. China (X tons) took the second position in the ranking, distantly followed by India (X tons) and Israel (X tons). All these countries together took near 42% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to hand-made lace exports from Turkey stood at +14.7%. At the same time, Israel (+36.1%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in Asia, with a CAGR of +36.1% from 2012-2022. By contrast, India (-3.6%) and China (-6.3%) illustrated a downward trend over the same period. Turkey (+36 p.p.) and Israel (+8.1 p.p.) significantly strengthened its position in terms of the total exports, while India and China saw its share reduced by -8.3% and -25.7% from 2012 to 2022, respectively.

In value terms, Turkey ($X) emerged as the largest hand-made lace supplier in Asia, comprising 49% of total exports. The second position in the ranking was taken by China ($X), with a 24% share of total exports. It was followed by Israel, with an 11% share.

In Turkey, hand-made lace exports increased at an average annual rate of +13.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (-5.4% per year) and Israel (+34.0% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, shrinking by -22.7% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the export price increased by 32% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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 Israel ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.9%), while the other leaders experienced a decline in the export price figures.

Hand-Made Lace Imports

Imports in Asia

In 2022, purchases abroad of hand-made lace in the piece, in strips or in motifs was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports enjoyed a buoyant increase. The growth pace was the most rapid in 2019 when imports increased by 187%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, hand-made lace imports expanded significantly to $X in 2022. Over the period under review, imports posted a pronounced increase. The most prominent rate of growth was recorded in 2019 when imports increased by 98%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The Philippines (X tons) and the United Arab Emirates (X tons) were the major importers of hand-made lace in the piece, in strips or in motifs in 2022, reaching near 32% and 26% of total imports, respectively. Cambodia (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Myanmar (10%) and India (7.1%). The following importers - Bangladesh (X tons) and Afghanistan (X tons) - together made up 4.7% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Myanmar (with a CAGR of +88.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hand-made lace importing markets in Asia were Cambodia ($X), the United Arab Emirates ($X) and the Philippines ($X), with a combined 65% share of total imports. India, Myanmar, Bangladesh and Afghanistan lagged somewhat behind, together accounting for a further 24%.

Among the main importing countries, Myanmar, with a CAGR of +58.9%, saw the highest growth rate of 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 Asia amounted to $X per ton, falling by -21.5% against the previous year. In general, the import price continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2016 when the import price increased by 45% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 India (+2.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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