South Africa: Silk Yarn Market 2024

Silk Yarn Market Size in South Africa

After six years of decline, the South African silk yarn market increased by 8.5% to $X in 2021. Over the period under review, consumption, however, continues to indicate a deep downturn. Silk yarn consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Silk Yarn Production in South Africa

In value terms, silk yarn production stood at $X in 2021 estimated in export price. Overall, production, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2014 when the production volume increased by 34%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Silk Yarn Exports

Exports from South Africa

In 2021, approx. X kg of silk yarn and yarn spun from silk waste were exported from South Africa; reducing by -29.6% on the previous year. In general, exports continue to indicate a slight shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 422%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, silk yarn exports shrank notably to $X in 2021. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 262% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X kg), the United States (X kg) and India (X kg) were the main destinations of silk yarn exports from South Africa, together accounting for 69% 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 the UK (with a CAGR of +137.8%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) emerged as the key foreign market for silk yarn and yarn spun from silk waste exports from South Africa, comprising 55% of total exports. The second position in the ranking was taken by India ($X), with a 12% share of total exports. It was followed by the United States, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK stood at +69.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+553.5% per year) and the United States (+181.5% per year).

Export Prices by Country

In 2021, the average silk yarn export price amounted to $X per ton, growing by 15% against the previous year. Overall, the export price, however, saw a deep setback. The pace of growth was the most pronounced in 2014 an increase of 272%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Botswana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lesotho (+8.9%), while the prices for the other major destinations experienced a decline.

Silk Yarn Imports

Imports into South Africa

In 2021, approx. X tons of silk yarn and yarn spun from silk waste were imported into South Africa; with an increase of 45% on 2020 figures. Over the period under review, imports showed strong growth. The pace of growth was the most pronounced in 2019 when imports increased by 474% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, silk yarn imports surged to $X in 2021. In general, imports recorded significant growth. The most prominent rate of growth was recorded in 2019 when imports increased by 181% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest silk yarn supplier to South Africa, accounting for a 70% share of total imports. Moreover, silk yarn imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.7% per year) and the United States (+92.2% per year).

In value terms, China ($X) constituted the largest supplier of silk yarn and yarn spun from silk waste to South Africa, comprising 70% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +19.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+15.0% per year) and the United States (+81.3% per year).

Import Prices by Country

In 2021, the average silk yarn import price amounted to $X per ton, increasing by 12% against the previous year. In general, the import price showed a prominent expansion. The most prominent rate of growth was recorded in 2013 an increase of 101%. The import price peaked in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+8.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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