The Global top exporters of woven fabric made of synthetic filament yarn (HS Code 5407) between 2016 and 2023. The values are represented in USD millions. The global imports of this fabric have shown a general upward trend, with a slight dip in 2020 likely due to the COVID-19 pandemic. The CAGR for the global imports is 3%, indicating a steady growth in the overall market.

China: - China has consistently been the largest exporter throughout the period, with its exports increasing significantly each year. In 2023, China’s exports reached a staggering 19,513.3 million USD. China holds the largest market share, accountingfor a substantial 63% of the total exports. This indicates China’s significant presence in the global market for this type of fabric and China has the highest CAGR at 8%.

Taiwan: - Taiwan has also shown steady growth as an exporter, with its exports consistently increasing year after year. In 2023, Taiwan’s exports reached 1,321.9 million USD. Taiwan holds the second-largest market share at 23%, demonstrating itsconsiderable influence in the export market and Taiwan CAGR is -3, indicating that their imports have either declined or grown at a slower rate than China.

South Korea: - South Korea’s exports have fluctuated over the years. While it experienced significant growth in 2016 (1,767.3 Mn USD) and 2017 (1,685.9 Mn USD), its exports declined in 2018(1,674.1 Mn USD) and 2020 (1,060.5 Mn USD) beforerebounding in 2021 (1,265.8 Mn USD) and 2022 (1,391.5 Mn USD). South Korea hold relatively smaller market shares of 4% and have negative CAGRs -5, these countries have been losing market share or growing at a slower pace compared to China.

India’s Position

India’s exports of woven fabric made of synthetic filament yarn have grown steadily over the years, but at a slower pace compared to the other countries. While its exports have increased, they have remained relatively small compared to China and Taiwan. It does have a presence, its market share is significantly lower, that it faces competition from these two countries, particularly China. India’s exports have fluctuated slightly, but overall, they have shown a positive trend.