Asia: Market for Machines For Preparing, Weaving And Knitting Textiles 2024

Market Size for Machines For Preparing, Weaving And Knitting Textiles in Asia

In 2021, the Asian market for machines for preparing, weaving and knitting textiles increased by 41% to $X for the first time since 2018, thus ending a two-year declining trend. The total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Production of Machines For Preparing, Weaving And Knitting Textiles in Asia

In value terms, textile weaving and knitting machinery production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production showed strong growth. The pace of growth appeared the most rapid in 2014 when the production volume increased by 59% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Machines For Preparing, Weaving And Knitting Textiles

Exports in Asia

In 2021, the amount of machines for preparing, weaving and knitting textiles exported in Asia surged to X units, growing by 63% compared with 2020. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +9.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, textile weaving and knitting machinery exports soared to $X in 2021. The total export value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X units) was the key exporter of machines for preparing, weaving and knitting textiles, generating 69% of total exports. Japan (X units) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (6.9%) and Turkey (6.6%). South Korea (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the machines for preparing, weaving and knitting textiles exports, with a CAGR of +17.8% from 2012 to 2021. At the same time, Turkey (+12.0%) and Taiwan (Chinese) (+2.7%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. By contrast, South Korea (-4.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +33 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of exports in 2021, with a combined 85% share of total exports. These countries were followed by Turkey and South Korea, which together accounted for a further 5.9%.

Among the main exporting countries, Turkey, with a CAGR of +13.6%, 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 Asia stood at $X per unit in 2021, with a decrease of -10.6% against the previous year. Over the period under review, the export price recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when the export price increased by 4.7%. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+1.5%), while the other leaders experienced a decline in the export price figures.

Imports of Machines For Preparing, Weaving And Knitting Textiles

Imports in Asia

In 2021, purchases abroad of machines for preparing, weaving and knitting textiles was finally on the rise to reach X units after two years of decline. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, textile weaving and knitting machinery imports soared to $X in 2021. The total import value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X units) represented the key importer of machines for preparing, weaving and knitting textiles, comprising 35% of total imports. It was distantly followed by Bangladesh (X units), India (X units), China (X units) and Vietnam (X units), together committing a 40% share of total imports. Pakistan (X units), Indonesia (X units), Iran (X units), Uzbekistan (X units) and Taiwan (Chinese) (X units) took a minor share of total imports.

Imports into Turkey increased at an average annual rate of +12.3% from 2012 to 2021. At the same time, Iran (+17.3%), Uzbekistan (+10.6%), Vietnam (+10.2%), Bangladesh (+9.1%), Pakistan (+6.0%) and India (+3.1%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing importer imported in Asia, with a CAGR of +17.3% from 2012-2021. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Indonesia (-9.9%) and China (-10.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey, Bangladesh, Vietnam, Iran and Uzbekistan increased by +20, +6.3, +2.9, +2.6 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), China ($X) and India ($X) constituted the countries with the highest levels of imports in 2021, with a combined 70% share of total imports.

Turkey, with a CAGR of +10.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, reducing by -3.3% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 8%. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a 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 China ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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