Asia: Market for Jute And Jute-Like Fibers 2024

Market Size for Jute And Jute-Like Fibers in Asia

The Asian jute and jute-like fibers market surged to $X in 2022, jumping by 21% against the previous year. The market value increased at an average annual rate of +5.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Jute And Jute-Like Fibers in Asia

In value terms, jute and jute-like fibers production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 23%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Bangladesh (X tons) constituted the country with the largest volume of jute and jute-like fibers production, comprising approx. 99% of total volume.

In Bangladesh, jute and jute-like fibers production remained relatively stable over the period from 2012-2022.

Exports of Jute And Jute-Like Fibers

Exports in Asia

In 2022, the amount of jute and jute-like fibers exported in Asia contracted modestly to X tons, shrinking by -4.7% against the previous year's figure. Over the period under review, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2016 with an increase of 26% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, jute and jute-like fibers exports shrank modestly to $X in 2022. Overall, exports recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by 59% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bangladesh was the major exporter of jute and jute-like fibers in Asia, with the volume of exports amounting to X tons, which was approx. 81% of total exports in 2022. It was distantly followed by India (X tons), achieving a 15% share of total exports. Indonesia (X tons) held a minor share of total exports.

Exports from Bangladesh decreased at an average annual rate of -9.5% from 2012 to 2022. At the same time, Indonesia (+68.9%) and India (+4.8%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +68.9% from 2012-2022. From 2012 to 2022, the share of India and Indonesia increased by +11 and +2.2 percentage points, respectively.

In value terms, Bangladesh ($X) remains the largest jute and jute-like fibers supplier in Asia, comprising 76% of total exports. The second position in the ranking was held by India ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Bangladesh stood at -6.3%. The remaining exporting countries recorded the following average annual rates of exports growth: India (+8.9% per year) and Indonesia (+75.1% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, increasing by 2.8% against the previous year. Over the last decade, it increased at an average annual rate of +4.0%. The most prominent rate of growth was recorded in 2016 when the export price increased by 27%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a lower figure.

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 Indonesia ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.9%), while the other leaders experienced more modest paces of growth.

Imports of Jute And Jute-Like Fibers

Imports in Asia

In 2022, the amount of jute and jute-like fibers imported in Asia surged to X tons, increasing by 57% against 2021 figures. Overall, imports, however, continue to indicate a noticeable setback. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, jute and jute-like fibers imports surged to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India was the major importer of jute and jute-like fibers in Asia, with the volume of imports reaching X tons, which was near 55% of total imports in 2022. Pakistan (X tons) took the second position in the ranking, distantly followed by Nepal (X tons) and China (X tons). All these countries together held near 40% share of total imports. South Korea (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the jute and jute-like fibers imports, with a CAGR of +4.4% from 2012 to 2022. Pakistan experienced a relatively flat trend pattern. South Korea (-3.3%), Nepal (-8.1%) and China (-16.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and Pakistan increased by +28 and +4.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported jute and jute-like fibers in Asia, comprising 55% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 26% share of total imports. It was followed by Nepal, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at +6.0%. In the other countries, the average annual rates were as follows: Pakistan (+1.3% per year) and Nepal (-4.2% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, which is down by -2.4% against the previous year. Import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, jute and jute-like fibers import price increased by +50.1% against 2018 indices. The pace of growth appeared the most rapid in 2021 an increase of 31% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted modestly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Pakistan ($X per ton) and India ($X per ton), while South Korea ($X per ton) and Nepal ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :