Thailand: Net Fabric Market 2024

Net Fabric Market Size in Thailand

The Thai net fabric market expanded rapidly to $X in 2022, surging by 6.1% against the previous year. In general, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.3% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Net Fabric Production in Thailand

In value terms, net fabric production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a mild increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by 86%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Net Fabric Exports

Exports from Thailand

Net fabric exports from Thailand declined significantly to X tons in 2022, which is down by -62.2% compared with 2021 figures. Over the period under review, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 70%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, net fabric exports soared to $X in 2022. Overall, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2017 when exports increased by 68%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons), Senegal (X tons) and Lao People's Democratic Republic (X tons) were the main destinations of net fabric exports from Thailand, with a combined 72% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Senegal (with a CAGR of +80.2%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the key foreign market for tulles and other net fabrics exports from Thailand, comprising 62% of total exports. The second position in the ranking was taken by Senegal ($X), with an 18% share of total exports. It was followed by China, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value to Vietnam amounted to +2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (+144.7% per year) and China (+0.3% per year).

Export Prices by Country

The average net fabric export price stood at $X per ton in 2022, rising by 211% against the previous year. Overall, the export price posted a measured expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 Senegal (+35.8%), while the prices for the other major destinations experienced more modest paces of growth.

Net Fabric Imports

Imports into Thailand

In 2022, overseas purchases of tulles and other net fabrics increased by 31% to X tons, rising for the second consecutive year after two years of decline. Overall, imports posted prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 157% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, net fabric imports declined to $X in 2022. In general, total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +94.2% against 2015 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 43% against the previous year. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest net fabric supplier to Thailand, with a 81% share of total imports. Moreover, net fabric imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold. South Korea (X tons) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+2.0% per year) and South Korea (+3.5% per year).

In value terms, China ($X) constituted the largest supplier of tulles and other net fabrics to Thailand, comprising 58% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 12% share of total imports. It was followed by Japan, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +13.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-2.9% per year) and Japan (+1.6% per year).

Import Prices by Country

The average net fabric import price stood at $X per ton in 2022, waning by -32.7% against the previous year. In general, the import price saw a deep downturn. The growth pace was the most rapid in 2017 when the average import price increased by 31% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :