Malaysia: 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 Malaysia

In 2022, the Malaysian spindles and spindle flyer market decreased by -53% to $X, falling for the fourth consecutive year after two years of growth. Overall, consumption, however, saw a strong expansion. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

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

Exports from Malaysia

In 2022, approx. X kg of spindles and spindle flyers, spinning ring and ring travellers were exported from Malaysia; declining by -12.1% on the year before. In general, exports faced a abrupt descent. The pace of growth was the most pronounced in 2017 with an increase of 776%. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, spindles and spindle flyer exports soared to $X in 2022. Overall, exports, however, enjoyed temperate growth. The growth pace was the most rapid in 2017 when exports increased by 710% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X kg) was the main destination for spindles and spindle flyer exports from Malaysia, accounting for a 64% share of total exports. Moreover, spindles and spindle flyer exports to Singapore exceeded the volume sent to the second major destination, the Philippines (X kg), fivefold. The third position in this ranking was held by Germany (X kg), with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore stood at +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-12.9% per year) and Germany (-33.3% per year).

In value terms, Singapore ($X) remains the key foreign market for spindles and spindle flyers, spinning ring and ring travellers exports from Malaysia, comprising 69% of total exports. The second position in the ranking was taken by Denmark ($X), with a 9.6% share of total exports. It was followed by the Philippines, with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore totaled +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (0.0% per year) and the Philippines (-5.3% per year).

Export Prices by Country

In 2022, the average spindles and spindle flyer export price amounted to $X per ton, picking up by 60% against the previous year. In general, the export price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2013 an increase of 135% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to the Philippines ($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 South Africa (+2,539.3%), 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 Malaysia

In 2022, supplies from abroad of spindles and spindle flyers, spinning ring and ring travellers decreased by -62.7% to X tons, falling for the fourth year in a row after two years of growth. In general, imports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2018 when imports increased by 522% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, spindles and spindle flyer imports expanded modestly to $X in 2022. Over the period under review, imports, however, posted a prominent increase. The growth pace was the most rapid in 2018 with an increase of 341%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Singapore (X tons) constituted the largest supplier of spindles and spindle flyer to Malaysia, with a 30% share of total imports. Moreover, spindles and spindle flyer imports from Singapore exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Singapore amounted to +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.2% per year) and the United States (+34.3% per year).

In value terms, the largest spindles and spindle flyer suppliers to Malaysia were Singapore ($X), South Korea ($X) and Switzerland ($X), with a combined 75% share of total imports.

Among the main suppliers, South Korea, with a CAGR of +62.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average spindles and spindle flyer import price stood at $X per ton in 2022, increasing by 181% against the previous year. Overall, the import price showed a prominent increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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