Europe: Raw Silk Market 2024

Raw Silk Market Size in Europe

In 2022, the Europe raw silk market was finally on the rise to reach $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% from 2012 to 2022; the trend pattern remained consistent, 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 remained at a lower figure.

Raw Silk Production in Europe

In value terms, raw silk production dropped 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 somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 18%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

The country with the largest volume of raw silk production was Romania (X tons), accounting for 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 Europe

In 2022, approx. X tons of raw silk were exported in Europe; with an increase of 5.7% against the previous year's figure. The total export volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 21% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, raw silk exports surged to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +46.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

In 2022, Italy (X tons) was the largest exporter of raw silk, mixing up 47% of total exports. It was distantly followed by Slovenia (X tons), Romania (X tons) and Germany (X tons), together committing a 52% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Slovenia (with a CAGR of +66.5%), while shipments for the other leaders experienced more modest paces of growth.

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

In terms of 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 Europe amounted to $X per ton, with an increase of 10% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2017 when the export price increased by 19% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to see steady growth in years to come.

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 Europe

In 2022, supplies from abroad of raw silk was finally on the rise to reach X tons after three years of decline. Over the period under review, imports saw 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 measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 45% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Romania (X tons) was the major importer of raw silk, mixing up 50% of total imports. It was distantly followed by Italy (X tons), France (X tons) and Germany (X tons), together mixing up a 40% share of total imports. Spain (X tons) and Bulgaria (X tons) took a relatively small 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 Europe, with a CAGR of +165.5% from 2012-2022. By contrast, Italy (-2.7%) illustrated a downward trend over the same period. While the share of Spain (+4 p.p.), Bulgaria (+1.9 p.p.) and Romania (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Italy (-10.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest raw silk importing markets in Europe were Romania ($X), Italy ($X) and France ($X), together accounting for 90% of total imports. Germany, Bulgaria and Spain lagged somewhat behind, together comprising a further 7.3%.

Spain, with a CAGR of +111.5%, saw the highest growth rate of the value of imports, among 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

In 2022, the import price in Europe amounted to $X per ton, picking up by 7.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2018 an increase of 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