South-Eastern Asia: Non-Cotton Terry Towelling Market 2024

Non-Cotton Terry Towelling Market Size in South-Eastern Asia

The Southeast Asian non-cotton terry towelling market surged to $X in 2021, picking up by 26% against the previous year. Over the period under review, consumption enjoyed a prominent expansion. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Non-Cotton Terry Towelling Production in South-Eastern Asia

In value terms, non-cotton terry towelling production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 27%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Non-Cotton Terry Towelling Exports

Exports in South-Eastern Asia

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. Over the period under review, exports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of 70% against the previous year. The volume of export peaked at X square meters in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-cotton terry towelling exports skyrocketed to $X in 2021. In general, exports, however, recorded a abrupt descent. The pace of growth was the most pronounced in 2013 when exports increased by 71% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand represented the major exporting country with an export of around X square meters, which finished at 64% of total exports. Singapore (X square meters) took the second position in the ranking, followed by Myanmar (X square meters) and Malaysia (X square meters). All these countries together held approx. 28% share of total exports. The following exporters - Vietnam (X square meters) and Indonesia (X square meters) - each accounted for a 7.6% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to non-cotton terry towelling exports from Thailand stood at -6.8%. At the same time, Myanmar (+291.3%) and Vietnam (+38.2%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +291.3% from 2012-2021. Malaysia experienced a relatively flat trend pattern. By contrast, Singapore (-19.3%) and Indonesia (-21.6%) illustrated a downward trend over the same period. Thailand (+15 p.p.), Myanmar (+8.4 p.p.), Malaysia (+4.3 p.p.) and Vietnam (+4 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Singapore saw its share reduced by -9.2% and -21.4% from 2012 to 2021, respectively.

In value terms, Thailand ($X) remains the largest non-cotton terry towelling supplier in South-Eastern Asia, comprising 72% of total exports. The second position in the ranking was held by Singapore ($X), with a 9.7% share of total exports. It was followed by Malaysia, with a 6.7% share.

In Thailand, non-cotton terry towelling exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-21.3% per year) and Malaysia (-0.6% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per square meter, picking up by 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2019 an increase of 54%. As a result, the export price attained the peak level of $X per square meter. From 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per square meter), while Myanmar ($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 Thailand (+6.6%), while the other leaders experienced more modest paces of growth.

Non-Cotton Terry Towelling Imports

Imports in South-Eastern Asia

In 2021, overseas purchases of terry towelling (excluding of cotton) increased by 96% to X square meters, rising for the third consecutive year after two years of decline. Over the period under review, imports showed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-cotton terry towelling imports contracted to $X in 2021. In general, imports showed a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 97%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Thailand was the major importing country with an import of around X square meters, which recorded 66% of total imports. It was distantly followed by Vietnam (X square meters), comprising a 30% share of total imports. Cambodia (X square meters) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the terry towelling (excluding of cotton) imports, with a CAGR of +32.5% from 2012 to 2021. At the same time, Cambodia (+20.2%) and Vietnam (+9.0%) displayed positive paces of growth. While the share of Thailand (+45 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Vietnam (-24.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported terry towelling (excluding of cotton) in South-Eastern Asia, comprising 71% of total imports. The second position in the ranking was taken by Thailand ($X), with a 16% share of total imports.

In Vietnam, non-cotton terry towelling imports increased at an average annual rate of +8.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (+25.4% per year) and Cambodia (+12.3% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per square meter in 2021, which is down by -53% against the previous year. Over the period under review, the import price saw a deep setback. The most prominent rate of growth was recorded in 2015 an increase of 14% against the previous year. The level of import peaked at $X per square meter in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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 Vietnam ($X per square meter), while Thailand ($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 Vietnam (-0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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