India: Woolen Fabric Market 2022

Woolen Fabric Market Size in India

The Indian woolen fabric market contracted to $X in 2021, waning by -11% against the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Woolen Fabric Production in India

In value terms, woolen fabric production stood at $X in 2021 estimated in export price. In general, production recorded a slight descent. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Woolen Fabric Exports

Exports from India

After four years of decline, shipments abroad of woven woolen fabrics increased by 140% to X square meters in 2021. In general, exports saw a relatively flat trend pattern. The exports peaked at X square meters in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, woolen fabric exports surged to $X in 2021. Overall, exports, however, saw a perceptible contraction. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Myanmar (X square meters) was the main destination for woolen fabric exports from India, with a 37% share of total exports. Moreover, woolen fabric exports to Myanmar exceeded the volume sent to the second major destination, the United Arab Emirates (X square meters), threefold. The third position in this ranking was held by Vietnam (X square meters), with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Myanmar stood at +64.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-6.6% per year) and Vietnam (-4.3% per year).

In value terms, Vietnam ($X), the UK ($X) and Indonesia ($X) appeared to be the largest markets for woolen fabric exported from India worldwide, with a combined 27% share of total exports. These countries were followed by China, the United Arab Emirates, Ethiopia, Hong Kong SAR, Cambodia, the United States, Bhutan, Australia, Myanmar, Kuwait, Japan, Saudi Arabia, Italy, Jordan, Germany, South Africa and Mexico, which together accounted for a further 53%.

Bhutan, with a CAGR of +111.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average woolen fabric export price stood at $X per square meter in 2021, falling by -13.8% against the previous year. Overall, the export price continues to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2015 when the average export price increased by 8.3% against the previous year. The export price peaked at $X per square meter in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Germany ($X per square meter), while the average price for exports to Myanmar ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Woolen Fabric Imports

Imports into India

In 2021, purchases abroad of woven woolen fabrics was finally on the rise to reach X square meters after two years of decline. Over the period under review, imports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 48%. Over the period under review, imports reached the maximum at X square meters in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, woolen fabric imports soared to $X in 2021. In general, imports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 57%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

China (X square meters), the Netherlands (X square meters) and Italy (X square meters) were the main suppliers of woolen fabric imports to India, with a combined 72% share of total imports.

From 2012 to 2021, the biggest increases were in the Netherlands (with a CAGR of +88.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of woolen fabric to India, comprising 44% of total imports. The second position in the ranking was held by Italy ($X), with a 13% share of total imports. It was followed by the Netherlands, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-10.1% per year) and the Netherlands (+69.9% per year).

Import Prices by Country

In 2021, the average woolen fabric import price amounted to $X per square meter, surging by 11% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 13%. As a result, import price attained the peak level of $X per square meter. From 2015 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Turkey ($X per square meter), while the price for Japan ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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