ASEAN: Tufted Textile Fabric Market 2024

Tufted Textile Fabric Market Size in ASEAN

In 2022, the ASEAN tufted textile fabric market decreased by X% to $X, falling for the fourth consecutive year after two years of growth. In general, consumption continues to indicate a deep slump. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Tufted Textile Fabric Production in ASEAN

In value terms, tufted textile fabric production skyrocketed to $X in 2022 estimated in export price. Overall, production recorded a pronounced contraction. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Tufted Textile Fabric Exports

Exports in ASEAN

In 2022, overseas shipments of tufted textile fabrics decreased by X% to X square meters for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of X square meters, and then dropped in the following year.

In value terms, tufted textile fabric exports contracted markedly to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then shrank rapidly in the following year.

Exports by Country

Thailand dominates exports structure, accounting for X square meters, which was approx. X% of total exports in 2022. It was distantly followed by Singapore (X square meters), constituting a X% share of total exports. Vietnam (X square meters) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the tufted textile fabrics exports, with a CAGR of X% from 2012 to 2022. At the same time, Vietnam (X%) displayed positive paces of growth. By contrast, Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest tufted textile fabric supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports.

In Thailand, tufted textile fabric exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (X% per year) and Vietnam (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per square meter in 2022, waning by X% against the previous year. In general, the export price showed a perceptible contraction. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The level of export peaked at $X per square meter in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per square meter), while Thailand ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced a decline in the export price figures.

Tufted Textile Fabric Imports

Imports in ASEAN

In 2022, overseas purchases of tufted textile fabrics decreased by X% to X square meters, falling for the fourth year in a row after three years of growth. In general, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of X%. The volume of import peaked at X square meters in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, tufted textile fabric imports dropped dramatically to $X in 2022. Over the period under review, imports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Cambodia (X square meters) and Vietnam (X square meters) were the main importers of tufted textile fabrics in ASEAN, together resulting at approx. X% of total imports. It was distantly followed by Thailand (X square meters) and Malaysia (X square meters), together generating a X% share of total imports. The following importers - the Philippines (X square meters) and Indonesia (X square meters) - each finished at a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tufted textile fabric importing markets in ASEAN were Vietnam ($X), Thailand ($X) and Cambodia ($X), with a combined X% share of total imports. Malaysia, Indonesia and the Philippines lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per square meter in 2022, which is down by X% against the previous year. Over the period under review, the import price continues to indicate a slight contraction. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per square meter in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per square meter), while Cambodia ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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