Denmark: Silk Yarn Market 2024

Silk Yarn Market Size in Denmark

In 2021, after two years of decline, there was growth in the Danish silk yarn market, when its value increased by 5% to $X. In general, consumption, however, continues to indicate a drastic downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Silk Yarn Production in Denmark

In value terms, silk yarn production totaled $X in 2021 estimated in export price. Over the period under review, production, however, saw a deep downturn. The pace of growth was the most pronounced in 2018 with an increase of 11% against the previous year. Silk yarn production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Silk Yarn Exports

Exports from Denmark

In 2021, the amount of silk yarn and yarn spun from silk waste exported from Denmark surged to X tons, rising by 44% against 2020. Over the period under review, exports saw a significant expansion. The growth pace was the most rapid in 2019 when exports increased by 228%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, silk yarn exports surged to $X in 2021. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 295% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Norway (X tons) was the main destination for silk yarn exports from Denmark, accounting for a 70% share of total exports. Moreover, silk yarn exports to Norway exceeded the volume sent to the second major destination, Greenland (X kg), tenfold. Iceland (X kg) ranked third in terms of total exports with a 4% share.

From 2012 to 2021, the average annual growth rate of volume to Norway stood at +46.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greenland (+19.1% per year) and Iceland (+39.7% per year).

In value terms, Norway ($X) remains the key foreign market for silk yarn and yarn spun from silk waste exports from Denmark, comprising 69% of total exports. The second position in the ranking was taken by Australia ($X), with a 4.8% share of total exports. It was followed by Greenland, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value to Norway totaled +45.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (0.0% per year) and Greenland (+23.6% per year).

Export Prices by Country

The average silk yarn export price stood at $X per ton in 2021, approximately mirroring the previous year. Overall, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silk yarn export price increased by +21.1% against 2016 indices. The pace of growth appeared the most rapid in 2016 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then declined in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Greenland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Silk Yarn Imports

Imports into Denmark

In 2021, purchases abroad of silk yarn and yarn spun from silk waste increased by 90% to X tons, rising for the second year in a row after five years of decline. Over the period under review, imports, however, recorded a deep downturn. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, silk yarn imports soared to $X in 2021. Overall, imports, however, continue to indicate a perceptible decrease. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The UK (X kg), Turkey (X kg) and India (X kg) were the main suppliers of silk yarn imports to Denmark, together comprising 76% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +104.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest silk yarn suppliers to Denmark were Turkey ($X), the UK ($X) and India ($X), together accounting for 68% of total imports.

Among the main suppliers, Turkey, with a CAGR of +80.9%, saw the highest rates of growth with regard to 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

The average silk yarn import price stood at $X per ton in 2021, which is down by -13.2% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silk yarn import price increased by +69.8% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 55%. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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