Thailand: Woolen Fabric Market 2024

Woolen Fabric Market Size in Thailand

The Thai woolen fabric market shrank remarkably to $X in 2021, reducing by -41.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a abrupt descent. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Woolen Fabric Exports

Exports from Thailand

In 2021, shipments abroad of woven woolen fabrics was finally on the rise to reach X square meters after three years of decline. Over the period under review, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2016 when exports increased by 217% against the previous year. Over the period under review, the exports reached the maximum at X square meters in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, woolen fabric exports skyrocketed to $X in 2021. Overall, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 333%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Pakistan (X square meters), India (X square meters) and Vietnam (X square meters) were the main destinations of woolen fabric exports from Thailand, with a combined 70% share of total exports. Hong Kong SAR, South Africa, Indonesia, Portugal, Japan, Myanmar, China, Brazil, Singapore and Bahrain lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +134.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Pakistan ($X), India ($X) and Vietnam ($X) appeared to be the largest markets for woolen fabric exported from Thailand worldwide, together accounting for 76% of total exports. Hong Kong SAR, Indonesia, South Africa, China, Portugal, Brazil, Singapore, Myanmar, Japan and Bahrain lagged somewhat behind, together accounting for a further 22%.

Brazil, with a CAGR of +146.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average woolen fabric export price amounted to $X per square meter, declining by -10.3% against the previous year. Over the period under review, the export price, however, posted resilient growth. The growth pace was the most rapid in 2019 an increase of 61% against the previous year. As a result, the export price reached the peak level of $X per square meter. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per square meter), while the average price for exports to Japan ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (+33.2%), while the prices for the other major destinations experienced more modest paces of growth.

Woolen Fabric Imports

Imports into Thailand

In 2021, overseas purchases of woven woolen fabrics decreased by -11.2% to X square meters, falling for the sixth year in a row after two years of growth. Overall, imports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2015 with an increase of 32% against the previous year. As a result, imports reached the peak of X square meters. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, woolen fabric imports reached $X in 2021. In general, imports showed a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of 17%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X square meters), Italy (X square meters) and Taiwan (Chinese) (X square meters) were the main suppliers of woolen fabric imports to Thailand, together comprising 84% of total imports. These countries were followed by Germany, the UK, Portugal, India, Mexico and Japan, which together accounted for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +52.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest woolen fabric suppliers to Thailand were Italy ($X), China ($X) and Portugal ($X), with a combined 84% share of total imports.

Portugal, with a CAGR of +72.6%, 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 woolen fabric import price stood at $X per square meter in 2021, increasing by 14% against the previous year. Over the period under review, the import price saw a prominent expansion. The pace of growth was the most pronounced in 2017 an increase of 50%. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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