Thailand: Leather Sports Gloves Market 2024

Leather Sports Gloves Market Size in Thailand

The Thai leather sports gloves market declined to $X in 2022, with a decrease of -12% against the previous year. Overall, consumption recorded a perceptible reduction. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Leather Sports Gloves Production in Thailand

In value terms, leather sports gloves production dropped to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 9.3%. Leather sports gloves production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Leather Sports Gloves Exports

Exports from Thailand

For the fourth consecutive year, Thailand recorded growth in shipments abroad of leather sports gloves, mittens and mitts, which increased by 35% to X units in 2022. Over the period under review, exports posted a remarkable increase. The pace of growth was the most pronounced in 2021 when exports increased by 117%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, leather sports gloves exports surged to $X in 2022. In general, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +75.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 33% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for leather sports gloves exports from Thailand, accounting for a 63% share of total exports. Moreover, leather sports gloves exports to the United States exceeded the volume sent to the second major destination, Japan (X units), tenfold. The third position in this ranking was held by South Korea (X units), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+3.2% per year) and South Korea (+18.5% per year).

In value terms, the United States ($X) remains the key foreign market for leather sports gloves, mittens and mitts exports from Thailand, comprising 68% of total exports. The second position in the ranking was held by Japan ($X), with a 7% share of total exports. It was followed by South Korea, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-1.4% per year) and South Korea (+12.6% per year).

Export Prices by Country

In 2022, the average leather sports gloves export price amounted to $X per unit, waning by -1.8% against the previous year. In general, the export price showed a abrupt setback. The pace of growth was the most pronounced in 2015 an increase of 59% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, 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 United States ($X per unit), while the average price for exports to France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-4.4%), while the prices for the other major destinations experienced a decline.

Leather Sports Gloves Imports

Imports into Thailand

Leather sports gloves imports into Thailand skyrocketed to X units in 2022, growing by 84% on 2021 figures. In general, imports recorded a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 106% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, leather sports gloves imports soared to $X in 2022. Over the period under review, imports, however, showed a slight contraction. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Indonesia (X units), China (X units) and Pakistan (X units) were the main suppliers of leather sports gloves imports to Thailand, with a combined 72% share of total imports. Vietnam, Cambodia, Myanmar, Malaysia and India lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +142.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) constituted the largest supplier of leather sports gloves, mittens and mitts to Thailand, comprising 41% of total imports. The second position in the ranking was held by Vietnam ($X), with a 16% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+15.8% per year) and China (+5.0% per year).

Import Prices by Country

The average leather sports gloves import price stood at $X per unit in 2022, declining by -26.3% against the previous year. In general, the import price continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2014 when the average import price increased by 28%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+6.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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