Asia: Narrow Woven Fabric Market 2025

Narrow Woven Fabric Market Size in Asia

The Asian narrow woven fabric market skyrocketed to $X in 2021, jumping by 32% against the previous year. Over the period under review, consumption recorded buoyant growth. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Narrow Woven Fabric Production in Asia

In value terms, narrow woven fabric production skyrocketed to $X in 2021 estimated in export price. In general, production saw a notable expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 28% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Narrow Woven Fabric Exports

Exports in Asia

Narrow woven fabric exports surged to X tons in 2021, rising by 26% on the previous year's figure. The total export volume increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, narrow woven fabric exports soared to $X in 2021. The total export value increased at an average annual rate of +4.4% 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

China prevails in exports structure, recording X tons, which was approx. 68% of total exports in 2021. Taiwan (Chinese) (X tons) held the second position in the ranking, followed by Hong Kong SAR (X tons). All these countries together took near 12% share of total exports. The following exporters - South Korea (X tons), Turkey (X tons), India (X tons), the Philippines (X tons) and Vietnam (X tons) - together made up 14% of total exports.

Exports from China increased at an average annual rate of +6.0% from 2012 to 2021. At the same time, Vietnam (+15.5%), Turkey (+9.6%), India (+6.0%) and the Philippines (+3.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +15.5% from 2012-2021. By contrast, Taiwan (Chinese) (-1.0%), Hong Kong SAR (-1.9%) and South Korea (-2.2%) illustrated a downward trend over the same period. While the share of China (+9.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Korea (-3.4 p.p.), Taiwan (Chinese) (-3.8 p.p.) and Hong Kong SAR (-4.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest narrow woven fabric supplier in Asia, comprising 56% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 16% share of total exports. It was followed by Taiwan (Chinese), with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +7.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (+1.4% per year) and Taiwan (Chinese) (+0.8% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, picking up by 5% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 9.1%. As a result, the export price reached the peak level of $X per ton. 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 Hong Kong SAR ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.3%), while the other leaders experienced more modest paces of growth.

Narrow Woven Fabric Imports

Imports in Asia

In 2021, supplies from abroad of narrow woven fabrics was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when imports increased by 17% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, narrow woven fabric imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.4% over the period 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

The purchases of the twelve major importers of narrow woven fabrics, namely Bangladesh, India, Vietnam, Hong Kong SAR, Myanmar, Indonesia, Cambodia, Thailand, Sri Lanka, Turkey, China and Japan, represented more than two-thirds of total import.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +45.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest narrow woven fabric importing markets in Asia were Vietnam ($X), Hong Kong SAR ($X) and Bangladesh ($X), together comprising 42% of total imports. These countries were followed by Indonesia, Cambodia, Sri Lanka, India, China, Thailand, Turkey, Myanmar and Japan, which together accounted for a further 43%.

In terms of the main importing countries, Myanmar, with a CAGR of +13.5%, 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 2021, the import price in Asia amounted to $X per ton, growing by 7.7% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the import price increased by 10%. The level of import peaked at $X per ton in 2016; however, from 2017 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 Vietnam ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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