Asia-Pacific: Market for Spindles And Spindle Flyers, Spinning Ring And Ring Travellers 2024

Market Size for Spindles And Spindle Flyers, Spinning Ring And Ring Travellers in Asia-Pacific

In 2022, the Asia-Pacific spindles and spindle flyer market increased by 14% to $X, rising for the second consecutive year after four years of decline. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers in Asia-Pacific

In value terms, spindles and spindle flyer production shrank to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 26%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers

Exports in Asia-Pacific

In 2022, exports of spindles and spindle flyers, spinning ring and ring travellers in Asia-Pacific declined slightly to X tons, with a decrease of -4.6% compared with 2021. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 30%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, spindles and spindle flyer exports amounted to $X in 2022. The total export value increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 43% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

China was the largest exporting country with an export of around X tons, which accounted for 56% of total exports. India (X tons) took a 26% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (9.3%). Japan (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of spindles and spindle flyers, spinning ring and ring travellers. At the same time, South Korea (+16.6%) and Hong Kong SAR (+3.7%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +16.6% from 2012-2022. India experienced a relatively flat trend pattern. By contrast, Japan (-5.7%) illustrated a downward trend over the same period. While the share of South Korea (+7.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (-2.5 p.p.), China (-2.9 p.p.) and India (-3.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), China ($X) and Japan ($X) constituted the countries with the highest levels of exports in 2022, with a combined 73% share of total exports. Hong Kong SAR and South Korea lagged somewhat behind, together accounting for a further 15%.

Among the main exporting countries, Hong Kong SAR, with a CAGR of +11.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, picking up by 9.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2021 an increase of 11% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 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 Hong Kong SAR ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+7.5%), while the other leaders experienced more modest paces of growth.

Imports of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers

Imports in Asia-Pacific

In 2022, purchases abroad of spindles and spindle flyers, spinning ring and ring travellers increased by 9.5% to X tons, rising for the second year in a row after three years of decline. Overall, imports, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 65%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, spindles and spindle flyer imports rose remarkably to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 48%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X tons) represented the key importer of spindles and spindle flyers, spinning ring and ring travellers, constituting 40% of total imports. China (X tons) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (15%) and Bangladesh (12%). The following importers - Japan (X tons), Vietnam (X tons), Indonesia (X tons) and Malaysia (X tons) - together made up 11% of total imports.

India was also the fastest-growing in terms of the spindles and spindle flyers, spinning ring and ring travellers imports, with a CAGR of +14.2% from 2012 to 2022. At the same time, Malaysia (+6.9%), Bangladesh (+6.4%) and Japan (+2.2%) displayed positive paces of growth. Pakistan experienced a relatively flat trend pattern. By contrast, Vietnam (-8.7%), China (-10.2%) and Indonesia (-14.2%) illustrated a downward trend over the same period. While the share of India (+31 p.p.), Bangladesh (+6.1 p.p.) and Pakistan (+2.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Vietnam (-3.6 p.p.), Indonesia (-8.6 p.p.) and China (-25.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), China ($X) and Bangladesh ($X) constituted the countries with the highest levels of imports in 2022, with a combined 67% share of total imports. Pakistan, Vietnam, Malaysia, Japan and Indonesia lagged somewhat behind, together accounting for a further 24%.

Malaysia, with a CAGR of +13.1%, saw the highest growth rate of 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-Pacific stood at $X per ton in 2022, reducing by -3.3% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 13% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 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 Malaysia ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+12.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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