Eastern Asia: Narrow Woven Fabric Market 2024

Narrow Woven Fabric Market Size in Eastern Asia

The East Asian narrow woven fabric market fell to $X in 2021, reducing by -8.1% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Narrow Woven Fabric Production in Eastern Asia

In value terms, narrow woven fabric production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2018 when the production volume increased by 14% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Narrow Woven Fabric Exports

Exports in Eastern Asia

In 2021, narrow woven fabric exports in Eastern Asia soared to X tons, jumping by 25% against the previous year's figure. The total export volume increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. 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 surged to $X in 2021. The total export value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, accounting for X tons, which was near 80% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), Hong Kong SAR (X tons) and South Korea (X tons), together committing a 19% share of total exports.

China was also the fastest-growing in terms of the narrow woven fabrics exports, with a CAGR of +6.0% from 2012 to 2021. Taiwan (Chinese) (-1.0%), Hong Kong SAR (-1.9%) and South Korea (-2.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +13 percentage points.

In value terms, China ($X) remains the largest narrow woven fabric supplier in Eastern Asia, comprising 64% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with an 18% share of total exports. It was followed by Taiwan (Chinese), with a 9.5% share.

In China, narrow woven fabric exports expanded at an average annual rate of +7.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Hong Kong SAR (+1.4% per year) and Taiwan (Chinese) (+0.8% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, picking up by 5.5% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 9.8% against the previous year. 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.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

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

Narrow Woven Fabric Imports

Imports in Eastern Asia

In 2021, after five years of decline, there was significant growth in supplies from abroad of narrow woven fabrics, when their volume increased by 16% to X tons. Over the period under review, imports, however, saw a perceptible setback. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, narrow woven fabric imports surged to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Hong Kong SAR (X tons) was the key importer of narrow woven fabrics, creating 51% of total imports. China (X tons) ranks second in terms of the total imports with a 17% share, followed by Japan (16%) and South Korea (11%). Taiwan (Chinese) (X tons) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to narrow woven fabric imports into Hong Kong SAR stood at -1.7%. At the same time, Taiwan (Chinese) (+7.8%) and South Korea (+3.0%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +7.8% from 2012-2021. By contrast, Japan (-2.2%) and China (-8.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Hong Kong SAR, South Korea and Taiwan (Chinese) increased by +5, +4.4 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported narrow woven fabrics in Eastern Asia, comprising 58% of total imports. The second position in the ranking was held by China ($X), with a 23% share of total imports. It was followed by Japan, with a 10% share.

In Hong Kong SAR, narrow woven fabric imports increased at an average annual rate of +2.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: China (-6.9% per year) and Japan (-1.5% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, surging by 9.4% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($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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