Norway: 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 Norway

In 2022, the Norwegian spindles and spindle flyer market decreased by -25.6% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2021, and then dropped dramatically in the following year.

Production of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers in Norway

In value terms, spindles and spindle flyer production expanded slightly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 17% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

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

Exports from Norway

In 2022, overseas shipments of spindles and spindle flyers, spinning ring and ring travellers decreased by -27.2% to X kg, falling for the fifth consecutive year after three years of growth. Over the period under review, exports saw a deep setback. The pace of growth was the most pronounced in 2013 when exports increased by 267%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, spindles and spindle flyer exports contracted markedly to $X in 2022. Overall, exports saw a deep setback. The pace of growth was the most pronounced in 2015 when exports increased by 121% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden (X kg) was the main destination for spindles and spindle flyer exports from Norway, with a 92% share of total exports. Moreover, spindles and spindle flyer exports to Sweden exceeded the volume sent to the second major destination, Denmark (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+10.1% per year) and Finland (-21.9% per year).

In value terms, Sweden ($X) remains the key foreign market for spindles and spindle flyers, spinning ring and ring travellers exports from Norway, comprising 68% of total exports. The second position in the ranking was held by Denmark ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden stood at +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+81.2% per year) and Finland (-9.1% per year).

Export Prices by Country

The average spindles and spindle flyer export price stood at $X per ton in 2022, increasing by 11% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 76% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Sweden ($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 Denmark (+64.6%), 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 Norway

Spindles and spindle flyer imports into Norway reduced dramatically to X kg in 2022, declining by -92.4% against the previous year's figure. Overall, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 1,869%. As a result, imports attained the peak of X tons, and then contracted notably in the following year.

In value terms, spindles and spindle flyer imports reduced markedly to $X in 2022. In general, imports saw a noticeable descent. The most prominent rate of growth was recorded in 2021 with an increase of 1,046% against the previous year. As a result, imports attained the peak of $X, and then reduced dramatically in the following year.

Imports by Country

Japan (X kg), Germany (X kg) and Taiwan (Chinese) (X kg) were the main suppliers of spindles and spindle flyer imports to Norway, with a combined 65% share of total imports. Italy, Austria, Sweden and New Zealand lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +23.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Austria ($X), Germany ($X) and Japan ($X) appeared to be the largest spindles and spindle flyer suppliers to Norway, with a combined 60% share of total imports.

Austria, with a CAGR of +33.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average spindles and spindle flyer import price stood at $X per ton in 2022, increasing by 126% against the previous year. In general, the import price saw a perceptible expansion. The most prominent rate of growth was recorded in 2020 an increase of 129%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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