Thailand: Woolen Yarn Market 2024

Woolen Yarn Market Size in Thailand

After two years of decline, the Thai woolen yarn market increased by 3.1% to $X in 2021. Overall, consumption saw a deep downturn. The most prominent rate of growth was recorded in 2018 when the market value increased by 8.3% against the previous year. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Woolen Yarn Production in Thailand

In value terms, woolen yarn production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, showed a abrupt shrinkage. Woolen yarn production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Woolen Yarn Exports

Exports from Thailand

In 2021, shipments abroad of yarn of wool increased by 62% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 285%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, woolen yarn exports skyrocketed to $X in 2021. Overall, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 293%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons), Italy (X tons) and Australia (X tons) were the main destinations of woolen yarn exports from Thailand, with a combined 88% share of total exports. Lithuania and Germany lagged somewhat behind, together accounting for a further 6%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +188.8%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Italy ($X) and Lithuania ($X) appeared to be the largest markets for woolen yarn exported from Thailand worldwide, with a combined 88% share of total exports. Australia and Germany lagged somewhat behind, together accounting for a further 5.4%.

Germany, with a CAGR of +194.5%, saw the highest growth rate of 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 yarn export price amounted to $X per ton, almost unchanged from the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 20%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Australia ($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 Lithuania (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Woolen Yarn Imports

Imports into Thailand

In 2021, the amount of yarn of wool imported into Thailand totaled X tons, picking up by 2.8% compared with the previous year's figure. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 30%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, woolen yarn imports shrank to $X in 2021. Overall, total imports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -34.7% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 33% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest woolen yarn supplier to Thailand, with a 89% share of total imports. It was followed by India (X tons), with a 2.7% share of total imports. The third position in this ranking was held by the United States (X tons), with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-2.6% per year) and the United States (-0.9% per year).

In value terms, China ($X) constituted the largest supplier of yarn of wool to Thailand, comprising 89% of total imports. The second position in the ranking was taken by Italy ($X), with a 2.8% share of total imports. It was followed by South Korea, with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.4% per year) and South Korea (-10.2% per year).

Import Prices by Country

In 2021, the average woolen yarn import price amounted to $X per ton, which is down by -14.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 19% against the previous year. The import price peaked at $X per ton in 2020, and then dropped in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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