Asia: Non-Cotton Terry Towelling Market 2024

Non-Cotton Terry Towelling Market Size in Asia

The Asian non-cotton terry towelling market rose slightly to $X in 2021, picking up by 2.4% against the previous year. Overall, consumption saw a strong increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Non-Cotton Terry Towelling Production in Asia

In value terms, non-cotton terry towelling production stood at $X in 2021 estimated in export price. Over the period under review, production, however, recorded strong growth. The pace of growth appeared the most rapid in 2015 when the production volume increased by 208%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Non-Cotton Terry Towelling Exports

Exports in Asia

Non-cotton terry towelling exports expanded slightly to X square meters in 2021, with an increase of 4% against 2020. Total exports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -0.3% against 2019 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 49% against the previous year. The volume of export peaked at X square meters in 2019; afterwards, it flattened through to 2021.

In value terms, non-cotton terry towelling exports expanded markedly to $X in 2021. The total export value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 with an increase of 47% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

China dominates exports structure, reaching X square meters, which was near 73% of total exports in 2021. Taiwan (Chinese) (X square meters) held the second position in the ranking, followed by Turkey (X square meters). All these countries together took approx. 18% share of total exports. South Korea (X square meters) took a little share of total exports.

Exports from China increased at an average annual rate of +11.4% from 2012 to 2021. At the same time, Taiwan (Chinese) (+18.9%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia, with a CAGR of +18.9% from 2012-2021. Turkey experienced a relatively flat trend pattern. By contrast, South Korea (-15.3%) illustrated a downward trend over the same period. While the share of China (+33 p.p.) and Taiwan (Chinese) (+6.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Turkey (-3.1 p.p.) and South Korea (-20.3 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest non-cotton terry towelling supplier in Asia, comprising 70% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 10% share of total exports. It was followed by Turkey, with an 8.6% share.

In China, non-cotton terry towelling exports expanded at an average annual rate of +12.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+8.4% per year) and Turkey (-2.9% per year).

Export Prices by Country

The export price in Asia stood at $X per square meter in 2021, picking up by 1.8% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 13% against the previous year. As a result, the export price attained the peak level of $X per square meter. From 2015 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in South Korea ($X per square meter) and Taiwan (Chinese) ($X per square meter), while China ($X per square meter) and Turkey ($X per square meter) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.4%), while the other leaders experienced mixed trends in the export price figures.

Non-Cotton Terry Towelling Imports

Imports in Asia

In 2021, overseas purchases of terry towelling (excluding of cotton) increased by 140% to X square meters, rising for the second consecutive year after three years of decline. In general, imports continue to indicate a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-cotton terry towelling imports surged to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +58.3% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand (X square meters) and Kyrgyzstan (X square meters) were the largest importers of terry towelling (excluding of cotton) in 2021, reaching near 36% and 27% of total imports, respectively. It was distantly followed by Vietnam (X square meters) and Sri Lanka (X square meters), together committing a 21% share of total imports. The following importers - China (X square meters), South Korea (X square meters) and Hong Kong SAR (X square meters) - each amounted to an 8% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Kyrgyzstan (with a CAGR of +96.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Kyrgyzstan ($X) and Sri Lanka ($X) were the countries with the highest levels of imports in 2021, with a combined 59% share of total imports.

Among the main importing countries, Kyrgyzstan, with a CAGR of +100.3%, saw 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 square meter in 2021, dropping by -39% against the previous year. Overall, the import price saw a perceptible reduction. The most prominent rate of growth was recorded in 2014 when the import price increased by 19% against the previous year. The level of import peaked at $X per square meter in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per square meter), while Thailand ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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