Asia: Market for Cotton (Carded Or Combed) 2024

Market Size for Cotton (Carded Or Combed) in Asia

The Asian cotton (carded or combed) market fell to $X in 2022, waning by -9.1% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2021, and then declined in the following year.

Production of Cotton (Carded Or Combed) in Asia

In value terms, cotton (carded or combed) production shrank remarkably to $X in 2022 estimated in export price. In general, production, however, enjoyed a strong increase. The growth pace was the most rapid in 2021 when the production volume increased by 96%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Cotton (Carded Or Combed)

Exports in Asia

Cotton (carded or combed) exports dropped remarkably to X tons in 2022, shrinking by -17% against 2021. Overall, exports, however, posted a strong expansion. The growth pace was the most rapid in 2013 with an increase of 71% against the previous year. The volume of export peaked at X tons in 2021, and then declined significantly in the following year.

In value terms, cotton (carded or combed) exports dropped modestly to $X in 2022. Over the period under review, exports, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2021 with an increase of 59%. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

India represented the largest exporting country with an export of around X tons, which finished at 56% of total exports. Indonesia (X tons) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (8.5%) and Afghanistan (7.3%). The following exporters - Turkey (X tons), Bangladesh (X tons) and Vietnam (X tons) - together made up 8.8% of total exports.

From 2012 to 2022, average annual rates of growth with regard to cotton (carded or combed) exports from India stood at +62.7%. At the same time, Afghanistan (+66.6%), Vietnam (+13.5%), Bangladesh (+12.1%), Turkey (+7.2%) and Indonesia (+6.2%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +66.6% from 2012-2022. By contrast, South Korea (-2.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and Afghanistan increased by +55 and +7.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest cotton (carded or combed) supplier in Asia, comprising 49% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 16% share of total exports. It was followed by South Korea, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at +56.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+1.7% per year) and South Korea (-0.0% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, growing by 20% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible decrease. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.4%), while the other leaders experienced more modest paces of growth.

Imports of Cotton (Carded Or Combed)

Imports in Asia

In 2022, after two years of decline, there was significant growth in purchases abroad of cotton (carded or combed), when their volume increased by 18% to X tons. Overall, imports recorded a pronounced expansion. The pace of growth appeared the most rapid in 2016 with an increase of 237%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, cotton (carded or combed) imports expanded notably to $X in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 178%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Vietnam (X tons) was the key importer of cotton (carded or combed), creating 44% of total imports. Taiwan (Chinese) (X tons) held a 24% share (based on physical terms) of total imports, which put it in second place, followed by China (12%) and Bangladesh (8.7%). Afghanistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Afghanistan (with a CAGR of +73.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Taiwan (Chinese) ($X) and China ($X) were the countries with the highest levels of imports in 2022, together comprising 69% of total imports. Bangladesh and Afghanistan lagged somewhat behind, together accounting for a further 12%.

In terms of the main importing countries, Afghanistan, with a CAGR of +68.0%, 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 more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, reducing by -3.1% against the previous year. In general, the import price showed a perceptible decrease. The pace of growth was the most pronounced in 2018 an increase of 24%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bangladesh ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :