Malaysia: Silk Fabric Market 2024

Silk Fabric Market Size in Malaysia

The Malaysian silk fabric market dropped modestly to $X in 2021, shrinking by -2.5% against the previous year. Over the period under review, consumption, however, enjoyed a buoyant increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Silk Fabric Production in Malaysia

In value terms, silk fabric production skyrocketed to $X in 2021 estimated in export price. Overall, production showed significant growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 223% against the previous year. Silk fabric production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Silk Fabric Exports

Exports from Malaysia

In 2021, shipments abroad of woven fabrics of silk or of silk waste was finally on the rise to reach X square meters after four years of decline. Over the period under review, exports, however, saw a sharp decline. The most prominent rate of growth was recorded in 2015 with an increase of 169% against the previous year. The exports peaked at X square meters in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, silk fabric exports surged to $X in 2021. Overall, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of 250%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X square meters), Hong Kong SAR (X square meters) and Thailand (X square meters) were the main destinations of silk fabric exports from Malaysia, with a combined 80% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +22.0%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for silk fabric exported from Malaysia were Hong Kong SAR ($X), Singapore ($X) and Thailand ($X), together comprising 91% of total exports.

In terms of the main countries of destination, Hong Kong SAR, with a CAGR of +52.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average silk fabric export price amounted to $X per square meter, therefore, remained relatively stable against the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silk fabric export price increased by +55.5% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of 33% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per square meter), while the average price for exports to Nigeria ($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 Tanzania (+237.4%), while the prices for the other major destinations experienced more modest paces of growth.

Silk Fabric Imports

Imports into Malaysia

In 2021, imports of woven fabrics of silk or of silk waste into Malaysia declined remarkably to X square meters, shrinking by -40.5% compared with 2020. Overall, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2015 when imports increased by 86% against the previous year. As a result, imports attained the peak of X square meters. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, silk fabric imports reduced to $X in 2021. In general, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2015 with an increase of 107% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X square meters) constituted the largest supplier of silk fabric to Malaysia, with a 71% share of total imports. Moreover, silk fabric imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X square meters), eightfold. Taiwan (Chinese) (X square meters) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+2.4% per year) and Taiwan (Chinese) (-2.6% per year).

In value terms, China ($X) constituted the largest supplier of woven fabrics of silk or of silk waste to Malaysia, comprising 56% of total imports. The second position in the ranking was taken by Singapore ($X), with a 16% share of total imports. It was followed by India, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value from China totaled -13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+64.7% per year) and India (-4.3% per year).

Import Prices by Country

The average silk fabric import price stood at $X per square meter in 2021, rising by 47% against the previous year. In general, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silk fabric import price decreased by -26.9% against 2018 indices. Over the period under review, average import prices hit record highs at $X per square meter in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per square meter), while the price for Indonesia ($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 Singapore (+22.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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