Thailand: Non-Cotton Terry Towelling Market 2024

Non-Cotton Terry Towelling Market Size in Thailand

The Thai non-cotton terry towelling market skyrocketed to $X in 2021, with an increase of 291% against the previous year. Overall, consumption posted significant growth. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Non-Cotton Terry Towelling Production in Thailand

In value terms, non-cotton terry towelling production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 when the production volume increased by 41%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Non-Cotton Terry Towelling Exports

Exports from Thailand

In 2021, overseas shipments of terry towelling (excluding of cotton) were finally on the rise to reach X square meters for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 86%. As a result, the exports attained the peak of X square meters. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, non-cotton terry towelling exports soared to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 142% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Myanmar (X square meters) was the main destination for non-cotton terry towelling exports from Thailand, accounting for a 72% share of total exports. Moreover, non-cotton terry towelling exports to Myanmar exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X square meters), sevenfold. The third position in this ranking was held by French Polynesia (X square meters), with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume to Myanmar stood at +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (-19.1% per year) and French Polynesia (-28.2% per year).

In value terms, Myanmar ($X), Fiji ($X) and Lao People's Democratic Republic ($X) were the largest markets for non-cotton terry towelling exported from Thailand worldwide, with a combined 62% share of total exports.

Fiji, with a CAGR of +136.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average non-cotton terry towelling export price stood at $X per square meter in 2021, picking up by 62% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-cotton terry towelling export price increased by +92.0% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 83% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Fiji ($X per square meter), while the average price for exports to Myanmar ($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 Fiji (+335.9%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Cotton Terry Towelling Imports

Imports into Thailand

In 2021, non-cotton terry towelling imports into Thailand skyrocketed to X square meters, increasing by 312% on the previous year's figure. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 2,631%. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, non-cotton terry towelling imports surged to $X in 2021. Over the period under review, imports recorded significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 261% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X square meters) was the main non-cotton terry towelling supplier to Thailand, accounting for a approx. 99.9% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China totaled +36.2%.

In value terms, China ($X) constituted the largest supplier of terry towelling (excluding of cotton) to Thailand.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +28.3%.

Import Prices by Country

The average non-cotton terry towelling import price stood at $X per square meter in 2021, falling by -18.4% against the previous year. In general, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2015 when the average import price increased by 87% against the previous year. Over the period under review, average import prices attained the maximum at $X per square meter in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for South Korea amounted to +4.8% per year.

Source: IndexBox Platform

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