China: Non-Cotton Terry Towelling Market 2024

Non-Cotton Terry Towelling Market Size in China

In 2021, the Chinese non-cotton terry towelling market increased by 56% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, recorded a abrupt slump. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Non-Cotton Terry Towelling Production in China

In value terms, non-cotton terry towelling production totaled $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 43%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Non-Cotton Terry Towelling Exports

Exports from China

In 2021, overseas shipments of terry towelling (excluding of cotton) decreased by -7.5% to X square meters, falling for the second consecutive year after two years of growth. In general, exports, however, saw buoyant growth. The growth pace was the most rapid in 2015 with an increase of 201%. Over the period under review, the exports hit record highs at X square meters in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-cotton terry towelling exports expanded to $X in 2021. Over the period under review, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of 167% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X square meters), El Salvador (X square meters) and Uzbekistan (X square meters) were the main destinations of non-cotton terry towelling exports from China, together comprising 54% of total exports.

From 2012 to 2021, the biggest increases were recorded for El Salvador (with a CAGR of +1,293.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the key foreign market for terry towelling (excluding of cotton) exports from China, comprising 30% of total exports. The second position in the ranking was taken by El Salvador ($X), with a 12% share of total exports. It was followed by Colombia, with an 8.8% share.

From 2012 to 2021, the average annual growth rate of value to Vietnam totaled +75.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+833.0% per year) and Colombia (+78.9% per year).

Export Prices by Country

In 2021, the average non-cotton terry towelling export price amounted to $X per square meter, increasing by 11% against the previous year. In general, the export price continues to indicate a slight increase. The growth pace was the most rapid in 2014 an increase of 39% against the previous year. As a result, the export price attained the peak level of $X per square meter. From 2015 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per square meter), while the average price for exports to the United Arab Emirates ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Cotton Terry Towelling Imports

Imports into China

In 2021, purchases abroad of terry towelling (excluding of cotton) increased by 1.7% to X square meters, rising for the third year in a row after five years of decline. Overall, imports, however, saw a drastic downturn. The growth pace was the most rapid in 2019 when imports increased by 15% against the previous year. Over the period under review, imports attained the maximum at X square meters in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, non-cotton terry towelling imports rose remarkably to $X in 2021. In general, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 23%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

South Korea (X square meters), France (X square meters) and Taiwan (Chinese) (X square meters) were the main suppliers of non-cotton terry towelling imports to China, together comprising 99% of total imports.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +261.6%), while purchases for the other leaders experienced a decline.

In value terms, the largest non-cotton terry towelling suppliers to China were South Korea ($X), France ($X) and Taiwan (Chinese) ($X), with a combined 97% share of total imports.

France, with a CAGR of +262.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average non-cotton terry towelling import price stood at $X per square meter in 2021, picking up by 11% against the previous year. Overall, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-cotton terry towelling import price increased by +13.8% against 2015 indices. The growth pace was the most rapid in 2014 when the average import price increased by 45% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per square meter), while the price for South Korea ($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 Taiwan (Chinese) (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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