ASEAN: Market for Cotton (Carded Or Combed) 2025

Market Size for Cotton (Carded Or Combed) in ASEAN

The ASEAN cotton (carded or combed) market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Production of Cotton (Carded Or Combed) in ASEAN

In value terms, cotton (carded or combed) production stood at $X in 2022 estimated in export price. Overall, production recorded a mild contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 15% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Exports of Cotton (Carded Or Combed)

Exports in ASEAN

In 2022, overseas shipments of cotton (carded or combed) decreased by -23.5% to X tons, falling for the third year in a row after eight years of growth. Over the period under review, exports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 82% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, cotton (carded or combed) exports declined to $X in 2022. Overall, exports, however, continue to indicate a measured expansion. The growth pace was the most rapid in 2019 with an increase of 44%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia represented the key exporting country with an export of around X tons, which amounted to 78% of total exports. Vietnam (X tons) took the second position in the ranking, distantly followed by Malaysia (X tons). All these countries together took approx. 19% share of total exports. The Philippines (X tons) held a little share of total exports.

Exports from Indonesia increased at an average annual rate of +6.2% from 2012 to 2022. At the same time, the Philippines (+61.8%), Vietnam (+13.5%) and Malaysia (+1.5%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +61.8% from 2012-2022. From 2012 to 2022, the share of Vietnam and the Philippines increased by +6.1 and +2 percentage points, respectively.

In value terms, Indonesia ($X) remains the largest cotton (carded or combed) supplier in ASEAN, comprising 75% of total exports. The second position in the ranking was held by Vietnam ($X), with a 13% share of total exports. It was followed by Malaysia, with a 2.3% share.

In Indonesia, cotton (carded or combed) exports expanded at an average annual rate of +1.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+14.6% per year) and Malaysia (-4.5% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, increasing by 16% against the previous year. In general, the export price, however, recorded a pronounced decline. The growth pace was the most rapid in 2017 when the export price increased by 25%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+1.0%), while the other leaders experienced a decline in the export price figures.

Imports of Cotton (Carded Or Combed)

Imports in ASEAN

After two years of decline, overseas purchases of cotton (carded or combed) increased by 7.9% to X tons in 2022. In general, imports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of 212%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, cotton (carded or combed) imports rose slightly to $X in 2022. Over the period under review, imports posted a temperate expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 207%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Vietnam prevails in imports structure, reaching X tons, which was approx. 92% of total imports in 2022. The following importers - Malaysia (X tons), Indonesia (X tons) and Thailand (X tons) - together made up 7.2% of total imports.

Vietnam was also the fastest-growing in terms of the cotton (carded or combed) imports, with a CAGR of +12.9% from 2012 to 2022. Indonesia (-2.0%), Malaysia (-6.3%) and Thailand (-10.9%) illustrated a downward trend over the same period. While the share of Vietnam (+26 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Indonesia (-5.3 p.p.), Thailand (-10.5 p.p.) and Malaysia (-10.6 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) constitutes the largest market for imported cotton (carded or combed) in ASEAN, comprising 79% of total imports. The second position in the ranking was taken by Indonesia ($X), with an 8.5% share of total imports. It was followed by Malaysia, with a 4% share.

In Vietnam, cotton (carded or combed) imports expanded at an average annual rate of +7.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (+0.7% per year) and Malaysia (-7.6% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, shrinking by -5.5% against the previous year. In general, the import price showed a pronounced decline. The pace of growth was the most pronounced in 2017 an increase of 17% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Indonesia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+6.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform