Eastern Asia: Market for Coconut, Abaca, Ramie and other Vegetable Textile Fibres 2024

Market Size for Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Eastern Asia

The East Asian market for coconut, abaca, ramie and other vegetable textile fibres contracted to $X in 2022, reducing by -7% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Eastern Asia

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres expanded to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a slight setback. The pace of growth was the most pronounced in 2014 with an increase of 31%. As a result, production reached the peak level of $X. From 2015 to 2022, production of growth failed to regain momentum.

China (X tons) remains the largest coconut, abaca, ramie and other vegetable textile fibre producing country in Eastern Asia, comprising approx. 99% of total volume.

From 2012 to 2022, the average annual growth rate of volume in China stood at -10.5%.

In 2022, the average yield of coconut, abaca, ramie and other vegetable textile fibres in Eastern Asia declined dramatically to X tons per ha, reducing by -28.6% against the previous year. The yield figure increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 52% against the previous year. As a result, the yield reached the peak level of X tons per ha, and then dropped dramatically in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of coconut, abaca, ramie and other vegetable textile fibres were harvested in Eastern Asia; rising by 205% against the previous year. Overall, the harvested area, however, showed a deep setback. Over the period under review, the harvested area dedicated to coconut, abaca, ramie and other vegetable textile fibre production attained the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Exports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Exports in Eastern Asia

In 2022, shipments abroad of coconut, abaca, ramie and other vegetable textile fibres was finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, continue to indicate a pronounced slump. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres surged to $X in 2022. Overall, exports, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2019 with an increase of 25% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

China represented the largest exporter of coconut, abaca, ramie and other vegetable textile fibres in Eastern Asia, with the volume of exports amounting to X tons, which was approx. 77% of total exports in 2022. It was distantly followed by South Korea (X tons) and Taiwan (Chinese) (X tons), together committing a 22% share of total exports.

Exports from China decreased at an average annual rate of -5.6% from 2012 to 2022. At the same time, South Korea (+107.1%) and Taiwan (Chinese) (+5.6%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +107.1% from 2012-2022. South Korea (+16 p.p.) and Taiwan (Chinese) (+3.2 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -18.9% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest coconut, abaca, ramie and other vegetable textile fibre supplier in Eastern Asia, comprising 93% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 3.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China amounted to -3.4%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (-1.2% per year) and South Korea (+69.0% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, shrinking by -36.6% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 37% against the previous year. The level of export peaked at $X per ton in 2021, and then declined notably in the following year.

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 China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.4%), while the other leaders experienced a decline in the export price figures.

Imports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Imports in Eastern Asia

In 2022, imports of coconut, abaca, ramie and other vegetable textile fibres in Eastern Asia declined slightly to X tons, remaining stable against the previous year's figure. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 24%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres dropped to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 34%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

The countries with the highest levels of imports of coconut, abaca, ramie and other vegetable textile fibres in 2022 were China (X tons), together finishing at 98% of total import.

China was also the fastest-growing in terms of the coconut, abaca, ramie and other vegetable textile fibres imports, with a CAGR of +2.2% from 2012 to 2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported coconut, abaca, ramie and other vegetable textile fibres in Eastern Asia.

In China, imports of coconut, abaca, ramie and other vegetable textile fibres remained relatively stable over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, declining by -12% against the previous year. Overall, the import price continues to indicate a slight descent. The pace of growth appeared the most rapid in 2014 an increase of 20%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -1.9% per year.

Source: IndexBox Platform