Global Silk Fabric Market 2024

Silk Fabric Market Size

The global silk fabric market rose significantly to $X in 2021, with an increase of 5.5% against the previous year. Over the period under review, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -7.6% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the global market failed to regain momentum.

Silk Fabric Production

In value terms, silk fabric production stood at $X in 2021 estimated in export price. Over the period under review, the total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -9.3% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 41%. As a result, production reached the peak level of $X. From 2020 to 2021, global production growth remained at a lower figure.

Silk Fabric Exports

Exports

In 2021, approx. X square meters of woven fabrics of silk or of silk waste were exported worldwide; with an increase of 23% on the previous year's figure. Over the period under review, exports, however, continue to indicate a abrupt shrinkage. The global exports peaked at X square meters in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, silk fabric exports soared to $X in 2021. In general, exports, however, showed a abrupt curtailment. The global exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China was the major exporter of woven fabrics of silk or of silk waste in the world, with the volume of exports recording X square meters, which was near 52% of total exports in 2021. Italy (X square meters) took a 12% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (5.2%), South Africa (5%) and Japan (4.6%). India (X square meters), South Korea (X square meters), France (X square meters), the UK (X square meters), Vietnam (X square meters) and Spain (X square meters) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of -10.6% from 2012 to 2021. At the same time, Turkey (+25.5%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +25.5% from 2012-2021. Vietnam experienced a relatively flat trend pattern. By contrast, Spain (-2.7%), South Africa (-2.9%), Japan (-4.9%), Italy (-6.7%), France (-9.0%), the UK (-10.0%), India (-10.6%) and South Korea (-14.6%) illustrated a downward trend over the same period. While the share of Turkey (+4.9 p.p.), Italy (+2.9 p.p.), South Africa (+2.4 p.p.) and Japan (+1.7 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of South Korea (-1.5 p.p.) and China (-5.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest silk fabric supplier worldwide, comprising 45% of global exports. The second position in the ranking was taken by Italy ($X), with a 19% share of global exports. It was followed by India, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled -10.5%. In the other countries, the average annual rates were as follows: Italy (-7.5% per year) and India (-6.7% per year).

Export Prices by Country

In 2021, the average silk fabric export price amounted to $X per square meter, approximately mirroring the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 28%. As a result, the export price attained the peak level of $X per square meter. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was France ($X per square meter), while South Africa ($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 South Africa (+6.0%), while the other global leaders experienced more modest paces of growth.

Silk Fabric Imports

Imports

In 2021, after three years of growth, there was decline in purchases abroad of woven fabrics of silk or of silk waste, when their volume decreased by -2% to X square meters. Overall, imports continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2019 with an increase of 58% against the previous year. Over the period under review, global imports hit record highs at X square meters in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, silk fabric imports skyrocketed to $X in 2021. Over the period under review, imports saw a deep slump. Over the period under review, global imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Nigeria was the main importing country with an import of about X square meters, which accounted for 60% of total imports. It was distantly followed by Kyrgyzstan (X square meters), making up an 11% share of total imports. The following importers - Italy (X square meters), the United Arab Emirates (X square meters), Vietnam (X square meters) and the UK (X square meters) - together made up 9.3% of total imports.

Imports into Nigeria decreased at an average annual rate of -3.4% from 2012 to 2021. At the same time, Kyrgyzstan (+120.0%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in the world, with a CAGR of +120.0% from 2012-2021. By contrast, Vietnam (-3.9%), the UK (-4.5%), the United Arab Emirates (-4.9%) and Italy (-9.9%) illustrated a downward trend over the same period. Kyrgyzstan (+11 p.p.) and Nigeria (+6.9 p.p.) significantly strengthened its position in terms of the global imports, while Italy saw its share reduced by -2.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X), the United Arab Emirates ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 27% of global imports. Kyrgyzstan, the UK and Nigeria lagged somewhat behind, together comprising a further 6.4%.

Among the main importing countries, Kyrgyzstan, with a CAGR of +97.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced a decline in the imports figures.

Import Prices by Country

The average silk fabric import price stood at $X per square meter in 2021, growing by 33% against the previous year. Overall, the import price, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2015 an increase of 131%. Global import price peaked at $X per square meter in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per square meter), while Nigeria ($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 Italy (+1.1%), while the other global leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :