Asia: Market for Coconut, Abaca, Ramie and other Vegetable Textile Fibres 2024

Market Size for Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Asia

In 2022, the Asian market for coconut, abaca, ramie and other vegetable textile fibres decreased by -6.5% to $X, falling for the fourth year in a row after two years of growth. In general, consumption, however, continues to indicate a perceptible shrinkage. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Production of Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Asia

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres contracted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 26%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

India (X tons) constituted the country with the largest volume of production of coconut, abaca, ramie and other vegetable textile fibres, comprising approx. 53% of total volume. Moreover, production of coconut, abaca, ramie and other vegetable textile fibres in India exceeded the figures recorded by the second-largest producer, Sri Lanka (X tons), threefold. The third position in this ranking was taken by Indonesia (X tons), with an 8.9% share.

In India, production of coconut, abaca, ramie and other vegetable textile fibres remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Sri Lanka (+1.3% per year) and Indonesia (-1.5% per year).

In 2022, the average yield of coconut, abaca, ramie and other vegetable textile fibres in Asia contracted to X tons per ha, with a decrease of -5.7% against 2021 figures. In general, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the yield increased by 8.1%. Over the period under review, the yield of coconut, abaca, ramie and other vegetable textile fibres hit record highs at X tons per ha in 2021, and then declined in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of coconut, abaca, ramie and other vegetable textile fibres were harvested in Asia; growing by 2.6% compared with 2021 figures. Over the period under review, the harvested area, however, recorded a relatively flat trend pattern. Over the period under review, the harvested area dedicated to coconut, abaca, ramie and other vegetable textile fibre production attained the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Exports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Exports in Asia

In 2022, shipments abroad of coconut, abaca, ramie and other vegetable textile fibres decreased by -8.1% to X tons for the first time since 2018, thus ending a three-year rising trend. Total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +32.4% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of 35% against the previous year. The volume of export peaked at X tons in 2021, and then declined in the following year.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres shrank notably to $X in 2022. In general, exports, however, enjoyed strong growth. The growth pace was the most rapid in 2021 with an increase of 43% against the previous year. As a result, the exports attained the peak of $X, and then declined significantly in the following year.

Exports by Country

In 2022, India (X tons) represented the largest exporter of coconut, abaca, ramie and other vegetable textile fibres, generating 60% of total exports. Sri Lanka (X tons) held the second position in the ranking, distantly followed by Vietnam (X tons). All these countries together took near 30% share of total exports. The following exporters - Indonesia (X tons), the Philippines (X tons) and Thailand (X tons) - each finished at an 8.5% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to coconut, abaca, ramie and other vegetable textile fibre exports from India stood at +7.7%. At the same time, the Philippines (+10.6%), Sri Lanka (+3.3%) and Indonesia (+1.3%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia, with a CAGR of +10.6% from 2012-2022. By contrast, Thailand (-1.5%) and Vietnam (-2.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India increased by +14 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest coconut, abaca, ramie and other vegetable textile fibre supplying countries in Asia were India ($X), Sri Lanka ($X) and the Philippines ($X), with a combined 92% share of total exports.

The Philippines, with a CAGR of +11.1%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, shrinking by -13.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2021 an increase of 19%. As a result, the export price reached the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+3.2%), while the other leaders experienced more modest paces of growth.

Imports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Imports in Asia

In 2022, imports of coconut, abaca, ramie and other vegetable textile fibres in Asia fell modestly to X tons, declining by -2.1% compared with the previous year. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 23%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres contracted to $X in 2022. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 31%. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

China prevails in fibres structure, accounting for X tons, which was near 88% of total imports in 2022. The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to coconut, abaca, ramie and other vegetable textile fibre imports into China stood at +2.2%. At the same time, the United Arab Emirates (+7.6%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in Asia, with a CAGR of +7.6% from 2012-2022. From 2012 to 2022, the share of China decreased by -3.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported coconut, abaca, ramie and other vegetable textile fibres in Asia, comprising 70% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 1.8% share of total imports.

In China, imports of coconut, abaca, ramie and other vegetable textile fibres remained relatively stable over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, with a decrease of -9% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 18%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.7%).

Source: IndexBox Platform