Thailand: 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 Thailand

The Thai spindles and spindle flyer market shrank to $X in 2022, reducing by -13.5% against the previous year. Over the period under review, consumption showed a mild descent. Spindles and spindle flyer consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

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

In value terms, spindles and spindle flyer production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 61,730,000%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

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

Exports from Thailand

In 2022, shipments abroad of spindles and spindle flyers, spinning ring and ring travellers increased by 12% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a deep reduction. The growth pace was the most rapid in 2015 when exports increased by 1,470%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, spindles and spindle flyer exports reduced to $X in 2022. Over the period under review, exports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of 247%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

India (X tons) was the main destination for spindles and spindle flyer exports from Thailand, with a 97% share of total exports. It was followed by Hong Kong SAR (X kg), with a 2.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to India amounted to +81.4%.

In value terms, India ($X) remains the key foreign market for spindles and spindle flyers, spinning ring and ring travellers exports from Thailand, comprising 92% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 5.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to India totaled +56.5%.

Export Prices by Country

The average spindles and spindle flyer export price stood at $X per ton in 2022, declining by -12% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 402%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to India totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+699.2%), 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 Thailand

After two years of growth, overseas purchases of spindles and spindle flyers, spinning ring and ring travellers decreased by -10.9% to X tons in 2022. Over the period under review, imports, however, enjoyed a noticeable increase. The pace of growth appeared the most rapid in 2020 with an increase of 173%. Over the period under review, imports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, spindles and spindle flyer imports dropped to $X in 2022. Overall, imports recorded a abrupt setback. The pace of growth appeared the most rapid in 2020 when imports increased by 43%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest spindles and spindle flyer supplier to Thailand, accounting for a 61% share of total imports. Moreover, spindles and spindle flyer imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. Japan (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+4.5% per year) and Japan (-8.5% per year).

In value terms, Switzerland ($X), China ($X) and Japan ($X) constituted the largest spindles and spindle flyer suppliers to Thailand, together accounting for 58% of total imports. India, France, Germany, the Czech Republic, South Korea and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 38%.

In terms of the main suppliers, France, with a CAGR of +8.0%, recorded the highest rates of growth with regard to the value of imports, 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, leveling off at the previous year. Over the period under review, the import price, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 22% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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