Asia: 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

In 2022, the Asian spindles and spindle flyer market increased by 13% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked 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

In value terms, spindles and spindle flyer production reduced modestly 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 27%. Over the period under review, production attained the peak level 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

Spindles and spindle flyer exports contracted to X tons in 2022, waning by -5.1% compared with the previous year. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 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 expanded modestly to $X in 2022. The total export value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 47% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, China (X tons) was the main exporter of spindles and spindle flyers, spinning ring and ring travellers, comprising 56% of total exports. It was distantly followed by India (X tons) and South Korea (X tons), together generating a 35% share of total exports. The following exporters - Japan (X tons) and Hong Kong SAR (X tons) - together made up 4.5% of total exports.

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, 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 (-2.8 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) were the countries with the highest levels of exports in 2022, with a combined 75% share of total exports. Hong Kong SAR and South Korea lagged somewhat behind, together comprising a further 15%.

In terms of the main exporting countries, Hong Kong SAR, with a CAGR of +11.5%, recorded the highest rates of growth with regard to 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 amounted to $X per ton, increasing by 7.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2021 when the export price increased by 14%. The level of export peaked at $X per ton in 2016; however, from 2017 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 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

In 2022, purchases abroad of spindles and spindle flyers, spinning ring and ring travellers increased by 9.2% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports, however, showed a mild descent. The most prominent rate of growth was recorded in 2021 with an increase of 64%. 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 rapidly to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 46%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, India (X tons) was the main importer of spindles and spindle flyers, spinning ring and ring travellers, comprising 39% of total imports. China (X tons) ranks second in terms of the total imports with a 15% share, followed by Pakistan (15%) and Bangladesh (11%). Japan (X tons), Vietnam (X tons), Indonesia (X tons), Turkey (X tons), Malaysia (X tons) and Thailand (X tons) took a relatively small share 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%), Turkey (+5.1%), Thailand (+3.5%) 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. From 2012 to 2022, the share of India, Bangladesh and Pakistan increased by +29, +5.8 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest spindles and spindle flyer importing markets in Asia were India ($X), China ($X) and Bangladesh ($X), with a combined 62% share of total imports. Pakistan, Vietnam, Turkey, Malaysia, Japan, Indonesia and Thailand lagged somewhat behind, together comprising a further 27%.

Malaysia, with a CAGR of +13.1%, saw 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 ton in 2022, shrinking by -3.1% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 15%. 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.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Thailand ($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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