Asia-Pacific: Hemp Tow Market 2025

Hemp Tow Market Size in Asia-Pacific

The Asia-Pacific hemp tow market reduced modestly to $X in 2022, which is down by -1.7% against the previous year. Over the period under review, consumption posted buoyant growth. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Hemp Tow Production in Asia-Pacific

In value terms, hemp tow production dropped significantly to $X in 2022 estimated in export price. Overall, production enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of 515%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

China (X tons) remains the largest hemp tow producing country in Asia-Pacific, comprising approx. 82% of total volume. Moreover, hemp tow production in China exceeded the figures recorded by the second-largest producer, Democratic People's Republic of Korea (X tons), fivefold.

In China, hemp tow production increased at an average annual rate of +17.9% over the period from 2012-2022.

In 2022, the average yield of hemp tow in Asia-Pacific reached X tons per ha, therefore, remained relatively stable against the previous year's figure. Over the period under review, the yield posted a remarkable increase. The most prominent rate of growth was recorded in 2016 when the yield increased by 62%. Over the period under review, the hemp tow yield hit record highs at X tons per ha in 2017; however, from 2018 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The hemp tow harvested area amounted to X ha in 2022, picking up by 2.1% on the previous year's figure. The total harvested area indicated temperate growth from 2012 to 2022: its figure increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hemp tow harvested area decreased by -22.0% against 2017 indices. The growth pace was the most rapid in 2016 when the harvested area increased by 30%. The level of harvested area peaked at X ha in 2017; however, from 2018 to 2022, the harvested area stood at a somewhat lower figure.

Hemp Tow Exports

Exports in Asia-Pacific

In 2022, after three years of growth, there was significant decline in overseas shipments of hemp tow, when their volume decreased by -37% to X tons. Over the period under review, exports, however, recorded a strong increase. The pace of growth was the most pronounced in 2021 when exports increased by 119% against the previous year. As a result, the exports reached the peak of X tons, and then shrank significantly in the following year.

In value terms, hemp tow exports shrank dramatically to $X in 2022. Overall, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 157%. As a result, the exports attained the peak of $X, and then fell dramatically in the following year.

Exports by Country

China dominates exports structure, reaching X tons, which was approx. 79% of total exports in 2022. It was distantly followed by New Zealand (X tons), achieving a 9.3% share of total exports. Bangladesh (X tons), Australia (X tons) and India (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the hemp tow exports, with a CAGR of +13.7% from 2012 to 2022. At the same time, Australia (+7.9%) displayed positive paces of growth. New Zealand and Bangladesh experienced a relatively flat trend pattern. By contrast, India (-5.5%) illustrated a downward trend over the same period. China (+30 p.p.) and New Zealand (+9.3 p.p.) significantly strengthened its position in terms of the total exports, while Bangladesh and India saw its share reduced by -6.3% and -6.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hemp tow supplier in Asia-Pacific, comprising 84% of total exports. The second position in the ranking was held by Australia ($X), with a 9.7% share of total exports. It was followed by New Zealand, with a 1.5% share.

In China, hemp tow exports expanded at an average annual rate of +15.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Australia (+43.6% per year) and New Zealand (0.0% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, growing by 23% against the previous year. Over the period under review, the export price recorded a resilient increase. The most prominent rate of growth was recorded in 2017 when the export price increased by 52%. The level of export peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+33.1%), while the other leaders experienced more modest paces of growth.

Hemp Tow Imports

Imports in Asia-Pacific

In 2022, approx. X tons of hemp tow were imported in Asia-Pacific; rising by 36% on the previous year's figure. Over the period under review, imports showed a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of 161% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, hemp tow imports fell modestly to $X in 2022. Overall, imports showed a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by 82% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

China represented the key importing country with an import of about X tons, which finished at 72% of total imports. Australia (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (6.4%). The following importers - Bangladesh (X tons) and India (X tons) - each accounted for a 6.2% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to hemp tow imports into China stood at +65.5%. At the same time, Pakistan (+133.3%), India (+84.6%), Bangladesh (+32.9%) and Australia (+28.8%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +133.3% from 2012-2022. From 2012 to 2022, the share of China, Pakistan, India and Australia increased by +67, +6.3, +2.7 and +2.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest hemp tow importing markets in Asia-Pacific were China ($X), Pakistan ($X) and Australia ($X), with a combined 79% share of total imports.

Pakistan, with a CAGR of +147.8%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, shrinking by -29.9% against the previous year. Overall, the import price recorded a abrupt decline. The growth pace was the most rapid in 2014 when the import price increased by 67%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

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 Pakistan ($X per ton), while Australia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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