MENA's Silk Fabrics Market to Grow at CAGR of +1.5% from 2024-2035, Reaching 62M Square Meters - News and Statistics - IndexBox

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IndexBox has just published a new report: MENA - Woven Fabrics Of Silk Or Of Silk Waste - Market Analysis, Forecast, Size, Trends and Insights.

Driven by increasing demand in the MENA region, the market for silk and silk waste woven fabrics is projected to grow with a CAGR of +1.5% in volume and -0.5% in value from 2024 to 2035. This expansion trend is expected to continue, reflecting the market's potential for continued growth in the future.

Driven by increasing demand for woven fabrics of silk or of silk waste in MENA, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.5% for the period from 2024 to 2035, which is projected to bring the market volume to 62M square meters by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of -0.5% for the period from 2024 to 2035, which is projected to bring the market value to $2.8B (in nominal wholesale prices) by the end of 2035.

In 2024, approx. 52M square meters of woven fabrics of silk or of silk waste were consumed in MENA; remaining relatively unchanged against the previous year. The total consumption volume increased at an average annual rate of +1.9% over the period from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, consumption reached the maximum volume in 2024 and is expected to retain growth in years to come.

The revenue of the silk fabric market in MENA reached $3B in 2024, approximately mirroring 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). The market value increased at an average annual rate of +2.3% from 2013 to 2024; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The level of consumption peaked in 2024 and is expected to retain growth in the immediate term.

The countries with the highest volumes of consumption in 2024 were Turkey (14M square meters), Iran (11M square meters) and Saudi Arabia (9.8M square meters), with a combined 65% share of total consumption.

From 2013 to 2024, the biggest increases were recorded for Saudi Arabia (with a CAGR of +4.1%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($766M), Egypt ($659M) and Iran ($446M) were the countries with the highest levels of market value in 2024, with a combined 63% share of the total market. Saudi Arabia, Morocco, Syrian Arab Republic and Yemen lagged somewhat behind, together comprising a further 32%.

Among the main consuming countries, Yemen, with a CAGR of +8.6%, recorded the highest growth rate of market size over the period under review, while market for the other leaders experienced more modest paces of growth.

The countries with the highest levels of silk fabric per capita consumption in 2024 were Saudi Arabia (266 square meters per 1000 persons), Turkey (159 square meters per 1000 persons) and Syrian Arab Republic (145 square meters per 1000 persons).

From 2013 to 2024, the biggest increases were recorded for Saudi Arabia (with a CAGR of +2.3%), while consumption for the other leaders experienced more modest paces of growth.

For the tenth year in a row, MENA recorded growth in production of woven fabrics of silk or of silk waste, which increased by 0.8% to 51M square meters in 2024. The total output volume increased at an average annual rate of +2.4% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 5.8%. The volume of production peaked in 2024 and is likely to see gradual growth in the near future.

In value terms, silk fabric production totaled $2.9B in 2024 estimated in export price. The total output value increased at an average annual rate of +2.8% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2022 when the production volume increased by 15% against the previous year. Over the period under review, production reached the peak level in 2024 and is expected to retain growth in the near future.

The countries with the highest volumes of production in 2024 were Turkey (14M square meters), Iran (11M square meters) and Saudi Arabia (9.5M square meters), together comprising 66% of total production.

From 2013 to 2024, the biggest increases were recorded for Saudi Arabia (with a CAGR of +4.0%), while production for the other leaders experienced more modest paces of growth.

In 2024, overseas purchases of woven fabrics of silk or of silk waste were finally on the rise to reach 1.3M square meters for the first time since 2021, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a deep downturn. The pace of growth was the most pronounced in 2015 when imports increased by 62% against the previous year. As a result, imports reached the peak of 5.5M square meters. From 2016 to 2024, the growth of imports remained at a lower figure.

In value terms, silk fabric imports shrank modestly to $124M in 2024. In general, imports, however, saw a noticeable contraction. The pace of growth appeared the most rapid in 2021 when imports increased by 48%. Over the period under review, imports reached the maximum at $203M in 2013; however, from 2014 to 2024, imports stood at a somewhat lower figure.

The countries with the highest levels of silk fabric imports in 2024 were the United Arab Emirates (336K square meters), Saudi Arabia (268K square meters), Qatar (230K square meters), Turkey (186K square meters) and Tunisia (166K square meters), together reaching 89% of total import. It was distantly followed by Morocco (93K square meters), constituting a 7% share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Saudi Arabia (with a CAGR of +15.7%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest silk fabric importing markets in MENA were the United Arab Emirates ($50M), Tunisia ($30M) and Turkey ($22M), with a combined 83% share of total imports.

In terms of the main importing countries, Tunisia, with a CAGR of +0.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

In 2024, the import price in MENA amounted to $93 per square meter, shrinking by -15.2% against the previous year. Over the period under review, the import price, however, posted prominent growth. The most prominent rate of growth was recorded in 2021 when the import price increased by 44%. The level of import peaked at $110 per square meter in 2023, and then shrank notably in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Tunisia ($180 per square meter), while Qatar ($5.7 per square meter) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.8%), while the other leaders experienced more modest paces of growth.

In 2024, overseas shipments of woven fabrics of silk or of silk waste increased by 113% to 186K square meters, rising for the second consecutive year after two years of decline. Overall, exports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2020 when exports increased by 451% against the previous year. As a result, the exports attained the peak of 1.1M square meters. From 2021 to 2024, the growth of the exports failed to regain momentum.

In value terms, silk fabric exports amounted to $3.7M in 2024. Over the period under review, exports, however, recorded a abrupt decline. The growth pace was the most rapid in 2020 when exports increased by 80% against the previous year. As a result, the exports attained the peak of $11M. From 2021 to 2024, the growth of the exports remained at a somewhat lower figure.

Turkey dominates exports structure, accounting for 149K square meters, which was near 80% of total exports in 2024. Qatar (16K square meters) took an 8.6% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (8.4%).

From 2013 to 2024, average annual rates of growth with regard to silk fabric exports from Turkey stood at +4.6%. At the same time, Qatar (+69.1%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing exporter exported in MENA, with a CAGR of +69.1% from 2013-2024. By contrast, the United Arab Emirates (-7.1%) illustrated a downward trend over the same period. Turkey (+59 p.p.) and Qatar (+8.6 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest silk fabric supplying countries in MENA were the United Arab Emirates ($1.4M), Turkey ($1.1M) and Qatar ($58K), with a combined 72% share of total exports.

Turkey, with a CAGR of -7.3%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

The export price in MENA stood at $20 per square meter in 2024, which is down by -51.4% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of 291% against the previous year. As a result, the export price reached the peak level of $51 per square meter. From 2023 to 2024, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was the United Arab Emirates ($92 per square meter), while Qatar ($3.6 per square meter) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-2.1%), while the other leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the silk fabric market in MENA. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

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