Malaysia: Non-Cotton Terry Towelling Market 2024

Non-Cotton Terry Towelling Market Size in Malaysia

In 2021, the Malaysian non-cotton terry towelling market was finally on the rise to reach $X for the first time since 2015, thus ending a five-year declining trend. Over the period under review, consumption, however, saw a abrupt downturn. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Non-Cotton Terry Towelling Exports

Exports from Malaysia

In 2021, overseas shipments of terry towelling (excluding of cotton) were finally on the rise to reach X square meters after two years of decline. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 1,387% against the previous year. Over the period under review, the exports hit record highs at X square meters in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, non-cotton terry towelling exports surged to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 1,685% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Thailand (X square meters) was the main destination for non-cotton terry towelling exports from Malaysia, with a 78% share of total exports. Moreover, non-cotton terry towelling exports to Thailand exceeded the volume sent to the second major destination, Maldives (X square meters), sixfold. Singapore (X square meters) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume to Thailand stood at +75.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (-4.2% per year) and Singapore (+73.1% per year).

In value terms, Thailand ($X) remains the key foreign market for terry towelling (excluding of cotton) exports from Malaysia, comprising 73% of total exports. The second position in the ranking was held by Singapore ($X), with a 13% share of total exports. It was followed by Maldives, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Thailand stood at +64.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+106.2% per year) and Maldives (-12.0% per year).

Export Prices by Country

In 2021, the average non-cotton terry towelling export price amounted to $X per square meter, shrinking by -10.1% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 26%. The export price peaked at $X per square meter in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Brunei Darussalam ($X per square meter), while the average price for exports to Maldives ($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 Singapore (+20.9%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Cotton Terry Towelling Imports

Imports into Malaysia

In 2021, after six years of decline, there was significant growth in supplies from abroad of terry towelling (excluding of cotton), when their volume increased by 132% to X square meters. Over the period under review, imports, however, faced a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 168%. As a result, imports reached the peak of X square meters. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, non-cotton terry towelling imports skyrocketed to $X in 2021. In general, imports, however, showed a abrupt slump. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

India (X square meters), Pakistan (X square meters) and Myanmar (X square meters) were the main suppliers of non-cotton terry towelling imports to Malaysia, together comprising 72% of total imports. These countries were followed by Australia, China, Bangladesh and Indonesia, which together accounted for a further 26%.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +17.7%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Pakistan ($X) constituted the largest supplier of terry towelling (excluding of cotton) to Malaysia, comprising 82% of total imports. The second position in the ranking was held by India ($X), with a 6.5% share of total imports. It was followed by Australia, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value from Pakistan totaled +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-16.8% per year) and Australia (+6.0% per year).

Import Prices by Country

In 2021, the average non-cotton terry towelling import price amounted to $X per square meter, rising by 42% against the previous year. In general, the import price showed a remarkable increase. The growth pace was the most rapid in 2020 when the average import price increased by 83%. The import price peaked in 2021 and is likely to see steady 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 Pakistan ($X per square meter), while the price for Indonesia ($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 Pakistan (+19.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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