Portugal: Non-Cotton Terry Towelling Market 2024

Non-Cotton Terry Towelling Market Size in Portugal

In 2021, the Portuguese non-cotton terry towelling market increased by 2% to $X, rising for the fourth consecutive year after three years of decline. Overall, consumption posted slight growth. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the immediate term.

Non-Cotton Terry Towelling Production in Portugal

In value terms, non-cotton terry towelling production declined to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 0.1%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Non-Cotton Terry Towelling Exports

Exports from Portugal

In 2021, shipments abroad of terry towelling (excluding of cotton) was finally on the rise to reach X square meters for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, recorded a sharp descent. Over the period under review, the exports hit record highs at X square meters in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-cotton terry towelling exports soared to $X in 2021. Overall, exports, however, recorded a abrupt descent. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X square meters) was the main destination for non-cotton terry towelling exports from Portugal, with a 80% share of total exports. Moreover, non-cotton terry towelling exports to the United Arab Emirates exceeded the volume sent to the second major destination, Australia (X square meters), tenfold. The third position in this ranking was taken by Belgium (X square meters), with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-73.4% per year) and Belgium (-93.7% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for terry towelling (excluding of cotton) exports from Portugal, comprising 60% of total exports. The second position in the ranking was held by Belgium ($X), with a 16% share of total exports. It was followed by the UK, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates amounted to +126,500.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-71.4% per year) and the UK (-5.8% per year).

Export Prices by Country

In 2021, the average non-cotton terry towelling export price amounted to $X per square meter, surging by 60% against the previous year. Overall, the export price continues to indicate a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per square meter), while the average price for exports to Angola ($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 Belgium (+357.1%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Cotton Terry Towelling Imports

Imports into Portugal

In 2021, non-cotton terry towelling imports into Portugal surged to X square meters, picking up by 101% against the year before. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 14,867%. Imports peaked at X square meters in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, non-cotton terry towelling imports surged to $X in 2021. Overall, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 19,065%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X square meters) constituted the largest supplier of non-cotton terry towelling to Portugal, accounting for a 46% share of total imports. Moreover, non-cotton terry towelling imports from China exceeded the figures recorded by the second-largest supplier, Spain (X square meters), twofold. The third position in this ranking was held by France (X square meters), with a 17% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +45.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+98.0% per year) and France (+55.2% per year).

In value terms, China ($X), Germany ($X) and Spain ($X) appeared to be the largest non-cotton terry towelling suppliers to Portugal, together accounting for 79% of total imports.

Spain, with a CAGR of +84.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-cotton terry towelling import price stood at $X per square meter in 2021, dropping by -13.5% against the previous year. Overall, the import price recorded a abrupt curtailment. The pace of growth was the most pronounced in 2020 an increase of 41% against the previous year. The import price peaked at $X per square meter in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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 Germany ($X per square meter), while the price for Ireland ($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 Germany (+17.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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