Latin America and the Caribbean: Non-Cotton Terry Towelling Market 2024

Non-Cotton Terry Towelling Market Size in Latin America and the Caribbean

The Latin American non-cotton terry towelling market expanded notably to $X in 2021, picking up by 14% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Non-Cotton Terry Towelling Production in Latin America and the Caribbean

In value terms, non-cotton terry towelling production expanded to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by 16%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Non-Cotton Terry Towelling Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of terry towelling (excluding of cotton) increased by 13% to X square meters, rising for the third year in a row after two years of decline. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by 70% against the previous year. The volume of export peaked at X square meters in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, non-cotton terry towelling exports soared to $X in 2021. Over the period under review, exports recorded a slight increase. The most prominent rate of growth was recorded in 2015 when exports increased by 69%. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Guatemala was the largest exporting country with an export of about X square meters, which amounted to 64% of total exports. It was distantly followed by the Dominican Republic (X square meters) and Brazil (X square meters), together achieving a 30% share of total exports. Panama (X square meters) and Chile (X square meters) followed a long way behind the leaders.

Guatemala experienced a relatively flat trend pattern with regard to volume of exports of terry towelling (excluding of cotton). At the same time, Brazil (+123.5%), Panama (+43.5%) and Chile (+25.0%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +123.5% from 2012-2021. By contrast, the Dominican Republic (-3.6%) illustrated a downward trend over the same period. While the share of Brazil (+10 p.p.), Panama (+3 p.p.) and Chile (+2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Guatemala (-4.2 p.p.) and the Dominican Republic (-10.2 p.p.) displayed negative dynamics.

In value terms, Guatemala ($X) remains the largest non-cotton terry towelling supplier in Latin America and the Caribbean, comprising 53% of total exports. The second position in the ranking was taken by Brazil ($X), with a 25% share of total exports. It was followed by the Dominican Republic, with a 15% share.

From 2012 to 2021, the average annual growth rate of value in Guatemala totaled +1.3%. In the other countries, the average annual rates were as follows: Brazil (+124.0% per year) and the Dominican Republic (-9.2% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per square meter in 2021, rising by 17% against the previous year. Overall, the export price showed a relatively flat trend pattern. The level of export peaked at $X per square meter in 2019; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per square meter), while Chile ($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 Chile (+2.9%), while the other leaders experienced more modest paces of growth.

Non-Cotton Terry Towelling Imports

Imports in Latin America and the Caribbean

In 2021, approx. X square meters of terry towelling (excluding of cotton) were imported in Latin America and the Caribbean; increasing by 18% against the previous year. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 22%. Over the period under review, imports attained the maximum at X square meters in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, non-cotton terry towelling imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 47% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Colombia (X square meters), distantly followed by Mexico (X square meters), Ecuador (X square meters), Bahamas (X square meters) and Turks and Caicos Islands (X square meters) were the largest importers of terry towelling (excluding of cotton), together making up 75% of total imports. The following importers - El Salvador (X square meters), Brazil (X square meters), the Dominican Republic (X square meters), Bolivia (X square meters), Nicaragua (X square meters) and Honduras (X square meters) - together made up 18% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Colombia (with a CAGR of +67.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X) constitutes the largest market for imported terry towelling (excluding of cotton) in Latin America and the Caribbean, comprising 49% of total imports. The second position in the ranking was taken by Mexico ($X), with a 13% share of total imports. It was followed by Ecuador, with an 8.6% share.

In Colombia, non-cotton terry towelling imports increased at an average annual rate of +74.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (+11.1% per year) and Ecuador (+33.4% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per square meter in 2021, increasing by 15% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the import price increased by 28%. The level of import peaked at $X per square meter in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Colombia ($X per square meter), while Bahamas ($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 Bolivia (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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