India: Hand-Woven Tapestry Market 2024

Hand-Woven Tapestry Market Size in India

In 2021, the Indian hand-woven tapestry market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, saw a abrupt contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Hand-Woven Tapestry Production in India

In value terms, hand-woven tapestry production totaled $X in 2021 estimated in export price. In general, production, however, recorded a noticeable shrinkage. The growth pace was the most rapid in 2018 when the production volume increased by 10% against the previous year. Hand-woven tapestry production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Hand-Woven Tapestry Exports

Exports from India

In 2021, shipments abroad of hand-woven tapestries of the type gobelins, flanders, aubusson, and beauvais decreased by -15.7% to X tons, falling for the second year in a row after five years of growth. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 97%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, hand-woven tapestry exports reduced dramatically to $X in 2021. In general, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 144%. The exports peaked at $X in 2020, and then shrank remarkably in the following year.

Exports by Country

The United States (X tons) was the main destination for hand-woven tapestry exports from India, accounting for a 55% share of total exports. Moreover, hand-woven tapestry exports to the United States exceeded the volume sent to the second major destination, Brazil (X tons), fivefold. Sudan (X tons) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +57.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+25.3% per year) and Sudan (+52.5% per year).

In value terms, the United States ($X) remains the key foreign market for hand-woven tapestries of the type gobelins, flanders, aubusson, and beauvais exports from India, comprising 72% of total exports. The second position in the ranking was taken by Italy ($X), with a 5.6% share of total exports. It was followed by Sudan, with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +55.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+31.5% per year) and Sudan (+51.7% per year).

Export Prices by Country

In 2021, the average hand-woven tapestry export price amounted to $X per ton, falling by -13.6% against the previous year. Overall, the export price, however, saw a tangible expansion. The most prominent rate of growth was recorded in 2017 when the average export price increased by 23% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Uganda ($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 Nepal (+4.7%), while the prices for the other major destinations experienced mixed trend patterns.

Hand-Woven Tapestry Imports

Imports into India

In 2021, supplies from abroad of hand-woven tapestries of the type gobelins, flanders, aubusson, and beauvais was finally on the rise to reach X tons for the first time since 2014, thus ending a six-year declining trend. Over the period under review, imports, however, recorded a abrupt downturn. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, hand-woven tapestry imports skyrocketed to $X in 2021. Overall, imports, however, saw a deep downturn. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Thailand (X kg) were the main suppliers of hand-woven tapestry imports to India, together accounting for 81% of total imports. These countries were followed by Sri Lanka and Hong Kong SAR, which together accounted for a further 16%.

From 2012 to 2021, the biggest increases were recorded for Sri Lanka (with a CAGR of +13.3%), while purchases for the other leaders experienced a decline.

In value terms, Sri Lanka ($X) constituted the largest supplier of hand-woven tapestries of the type gobelins, flanders, aubusson, and beauvais to India, comprising 34% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 17% share of total imports. It was followed by China, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Sri Lanka amounted to +17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+0.7% per year) and China (-18.0% per year).

Import Prices by Country

The average hand-woven tapestry import price stood at $X per ton in 2021, growing by 5.6% against the previous year. In general, the import price posted a strong expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by 50% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in years to come.

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 Hong Kong SAR ($X per ton), while the price for Taiwan (Chinese) ($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 (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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