United Kingdom: Silk Fabric Market 2024

Silk Fabric Market Size in the UK

The UK silk fabric market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, continues to indicate a noticeable decrease. Silk fabric consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Silk Fabric Production in the UK

In value terms, silk fabric production amounted to $X in 2021 estimated in export price. Overall, production, however, showed a abrupt slump. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Silk Fabric Exports

Exports from the UK

In 2021, approx. X square meters of woven fabrics of silk or of silk waste were exported from the UK; with a decrease of -35.1% compared with 2020 figures. In general, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 21% against the previous year. Over the period under review, the exports hit record highs at X square meters in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, silk fabric exports fell notably to $X in 2021. Over the period under review, exports showed a abrupt decrease. The pace of growth appeared the most rapid in 2013 when exports increased by 9.3%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X square meters), the United States (X square meters) and France (X square meters) were the main destinations of silk fabric exports from the UK, with a combined 47% share of total exports. These countries were followed by Italy, Japan, Grenada, China, Germany, the Netherlands, Ireland, Portugal, Belgium and New Zealand, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were recorded for Grenada (with a CAGR of +44.7%), while shipments for the other leaders experienced a decline.

In value terms, France ($X), Italy ($X) and the United States ($X) appeared to be the largest markets for silk fabric exported from the UK worldwide, with a combined 52% share of total exports. These countries were followed by Japan, the United Arab Emirates, Germany, Belgium, the Netherlands, Portugal, China, Ireland, New Zealand and Grenada, which together accounted for a further 27%.

Among the main countries of destination, Grenada, with a CAGR of +23.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average silk fabric export price amounted to $X per square meter, rising by 28% 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 2014 an increase of 33%. Over the period under review, the average export prices hit record highs at $X per square meter in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per square meter), while the average price for exports to Grenada ($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 France (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Silk Fabric Imports

Imports into the UK

In 2021, after two years of decline, there was growth in purchases abroad of woven fabrics of silk or of silk waste, when their volume increased by 3.7% to X square meters. In general, imports, however, showed a perceptible shrinkage. The growth pace was the most rapid in 2018 with an increase of 68%. As a result, imports reached the peak of X square meters. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, silk fabric imports rose slightly to $X in 2021. Over the period under review, imports, however, faced a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 5.7% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X square meters) constituted the largest supplier of silk fabric to the UK, with a 54% share of total imports. Moreover, silk fabric imports from China exceeded the figures recorded by the second-largest supplier, India (X square meters), twofold. The United Arab Emirates (X square meters) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-11.7% per year) and the United Arab Emirates (+14.1% per year).

In value terms, China ($X), India ($X) and Italy ($X) appeared to be the largest silk fabric suppliers to the UK, together accounting for 85% of total imports. The United Arab Emirates and Turkey lagged somewhat behind, together accounting for a further 2.8%.

Among the main suppliers, the United Arab Emirates, with a CAGR of +11.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average silk fabric import price amounted to $X per square meter, approximately equating the previous year. Overall, the import price recorded a abrupt slump. The pace of growth was the most pronounced in 2020 when the average import price increased by 19%. Over the period under review, average import prices hit record highs at $X per square meter in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per square meter), while the price for the United Arab Emirates ($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 Turkey (+1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :