EU: Raw Silk Market 2024

Raw Silk Market Size in the EU

In 2022, the EU raw silk market increased by 13% to $X for the first time since 2018, thus ending a three-year declining trend. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Raw Silk Production in the EU

In value terms, raw silk production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 18%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

The country with the largest volume of raw silk production was Romania (X tons), comprising approx. 89% of total volume. Moreover, raw silk production in Romania exceeded the figures recorded by the second-largest producer, Slovenia (X tons), tenfold.

In Romania, raw silk production remained relatively stable over the period from 2012-2022.

Raw Silk Exports

Exports in the EU

In 2022, exports of raw silk in the European Union rose significantly to X tons, picking up by 5.8% compared with the previous year's figure. The total export volume increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 21% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, raw silk exports surged to $X in 2022. Total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.5% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 25%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Italy represented the key exporter of raw silk in the European Union, with the volume of exports amounting to X tons, which was near 47% of total exports in 2022. It was distantly followed by Slovenia (X tons), Romania (X tons) and Germany (X tons), together generating a 52% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Slovenia (with a CAGR of +66.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest raw silk supplying countries in the European Union were Italy ($X), Slovenia ($X) and Romania ($X), together accounting for 92% of total exports.

Among the main exporting countries, Slovenia, with a CAGR of +71.4%, saw 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 the European Union amounted to $X per ton, rising by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2017 an increase of 17% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+2.9%), while the other leaders experienced more modest paces of growth.

Raw Silk Imports

Imports in the EU

In 2022, after three years of decline, there was significant growth in supplies from abroad of raw silk, when their volume increased by 32% to X tons. In general, imports showed a relatively flat trend pattern. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, raw silk imports surged to $X in 2022. Total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when imports increased by 45% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Romania represented the major importing country with an import of around X tons, which resulted at 51% of total imports. Italy (X tons) held the second position in the ranking, distantly followed by France (X tons) and Germany (X tons). All these countries together held near 41% share of total imports. Spain (X tons) and Bulgaria (X tons) held a minor share of total imports.

Imports into Romania increased at an average annual rate of +1.2% from 2012 to 2022. At the same time, Spain (+165.5%), Bulgaria (+13.6%), France (+2.6%) and Germany (+1.4%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing importer imported in the European Union, with a CAGR of +165.5% from 2012-2022. By contrast, Italy (-2.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Spain, Romania and Bulgaria increased by +4.1, +2.4 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest raw silk importing markets in the European Union were Romania ($X), Italy ($X) and France ($X), together accounting for 92% of total imports. Germany, Bulgaria and Spain lagged somewhat behind, together accounting for a further 7.4%.

Spain, with a CAGR of +111.5%, recorded 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 the European Union stood at $X per ton in 2022, with an increase of 7.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2018 when the import price increased by 14%. As a result, import price reached the peak level of $X per ton. From 2019 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 France ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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