GCC: Hemp Tow Market 2025

Hemp Tow Market Size in GCC

In 2022, the GCC hemp tow market increased by 2.2% to $X, rising for the second year in a row after three years of decline. Overall, consumption, however, continues to indicate a slight downturn. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Hemp Tow Production in GCC

In value terms, hemp tow production amounted to $X in 2022 estimated in export price. The total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.1% against 2020 indices. The growth pace was the most rapid in 2019 with an increase of 18%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The United Arab Emirates (X tons) constituted the country with the largest volume of hemp tow production, accounting for 55% of total volume. Moreover, hemp tow production in the United Arab Emirates exceeded the figures recorded by the second-largest producer, Saudi Arabia (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume in the United Arab Emirates stood at +1.0%. The remaining producing countries recorded the following average annual rates of production growth: Saudi Arabia (+1.8% per year) and Oman (+3.9% per year).

Hemp Tow Exports

Exports in GCC

In 2022, overseas shipments of hemp tow decreased by -17% to X tons, falling for the second year in a row after three years of growth. In general, exports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2015 when exports increased by 2,584%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, hemp tow exports soared to $X in 2022. Overall, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 2,519% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of hemp tow, namely the United Arab Emirates, represented more than two-thirds of total export.

The United Arab Emirates was also the fastest-growing in terms of the hemp tow exports, with a CAGR of +22.1% from 2012 to 2022. The United Arab Emirates (+31 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest hemp tow supplier in GCC.

In the United Arab Emirates, hemp tow exports expanded at an average annual rate of +20.3% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, growing by 51% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 81% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -1.5% per year.

Hemp Tow Imports

Imports in GCC

In 2022, approx. X tons of hemp tow were imported in GCC; reducing by -67.6% compared with 2021. In general, imports showed a deep downturn. The pace of growth was the most pronounced in 2016 with an increase of 2,912%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, hemp tow imports dropped significantly to $X in 2022. Overall, imports faced a abrupt decrease. The pace of growth was the most pronounced in 2016 when imports increased by 475% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the largest importer of hemp tow in GCC, with the volume of imports reaching X tons, which was near 75% of total imports in 2022. Kuwait (X kg) ranks second in terms of the total imports with a 17% share, followed by Qatar (6%). Oman (X kg) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to hemp tow imports into the United Arab Emirates stood at -7.2%. At the same time, Kuwait (+3.7%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +3.7% from 2012-2022. By contrast, Oman (-28.0%) and Qatar (-40.8%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+20 p.p.), Kuwait (+13 p.p.) and Qatar (+6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Oman (-13.2 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported hemp tow in GCC, comprising 81% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 15% share of total imports. It was followed by Qatar, with a 2.5% share.

In the United Arab Emirates, hemp tow imports plunged by an average annual rate of -9.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (-5.4% per year) and Qatar (-44.8% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, surging by 72% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 162% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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 the United Arab Emirates ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+5.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform