Indonesia: Market for Spindles And Spindle Flyers, Spinning Ring And Ring Travellers 2024

Market Size for Spindles And Spindle Flyers, Spinning Ring And Ring Travellers in Indonesia

For the third year in a row, the Indonesian spindles and spindle flyer market recorded decline in sales value, which decreased by -32.3% to $X in 2022. Over the period under review, consumption showed a deep slump. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Exports of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers

Exports from Indonesia

Spindles and spindle flyer exports from Indonesia skyrocketed to X tons in 2022, increasing by 41% on 2021. Overall, exports enjoyed mild growth. The most prominent rate of growth was recorded in 2014 when exports increased by 1,798%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, spindles and spindle flyer exports soared to $X in 2022. In general, exports posted a strong expansion. The growth pace was the most rapid in 2014 with an increase of 1,655% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X kg) was the main destination for spindles and spindle flyer exports from Indonesia, accounting for a 67% share of total exports. Moreover, spindles and spindle flyer exports to Japan exceeded the volume sent to the second major destination, the Philippines (X kg), ninefold. Switzerland (X kg) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume to Japan amounted to +25.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-8.6% per year) and Switzerland (+19.5% per year).

In value terms, Japan ($X) remains the key foreign market for spindles and spindle flyers, spinning ring and ring travellers exports from Indonesia, comprising 74% of total exports. The second position in the ranking was taken by Switzerland ($X), with a 14% share of total exports. It was followed by China, with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan totaled +36.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+22.3% per year) and China (+27.7% per year).

Export Prices by Country

The average spindles and spindle flyer export price stood at $X per ton in 2022, with a decrease of -2.8% against the previous year. Overall, the export price, however, saw strong growth. The growth pace was the most rapid in 2018 when the average export price increased by 86%. The export price peaked at $X per ton in 2021, and then fell slightly in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers

Imports into Indonesia

Spindles and spindle flyer imports into Indonesia reduced remarkably to X tons in 2022, with a decrease of -30.9% on the previous year. Overall, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 179%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, spindles and spindle flyer imports reduced remarkably to $X in 2022. Over the period under review, imports faced a abrupt descent. The pace of growth was the most pronounced in 2017 with an increase of 40% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of spindles and spindle flyer to Indonesia, with a 52% share of total imports. Moreover, spindles and spindle flyer imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. Japan (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-19.5% per year) and Japan (-16.4% per year).

In value terms, Japan ($X), China ($X) and Switzerland ($X) constituted the largest spindles and spindle flyer suppliers to Indonesia, together accounting for 53% of total imports. India, the Czech Republic, Germany, Hong Kong SAR and Singapore lagged somewhat behind, together comprising a further 26%.

Among the main suppliers, the Czech Republic, with a CAGR of -3.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average spindles and spindle flyer import price amounted to $X per ton, declining by -2.6% against the previous year. In general, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spindles and spindle flyer import price increased by +105.8% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by 111%. As a result, import price reached the peak level of $X per ton, and then dropped modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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