U.S.: Market for Coconut, Abaca, Ramie and other Vegetable Textile Fibres 2024

Market Size for Coconut, Abaca, Ramie and other Vegetable Textile Fibres in the U.S.

In 2022, after three years of growth, there was significant decline in the U.S. market for coconut, abaca, ramie and other vegetable textile fibres, when its value decreased by -20.9% to $X. Over the period under review, consumption, however, posted a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2021, and then dropped markedly in the following year.

Exports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Exports from the U.S.

Exports of coconut, abaca, ramie and other vegetable textile fibres from the United States shrank dramatically to X tons in 2022, dropping by -29.5% on the year before. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 93%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres contracted rapidly to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 34%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for exports of coconut, abaca, ramie and other vegetable textile fibres from the United States, with a 75% share of total exports. Moreover, exports of coconut, abaca, ramie and other vegetable textile fibres to Canada exceeded the volume sent to the second major destination, Mexico (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Canada totaled +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+3.8% per year) and Bermuda (+53.4% per year).

In value terms, Canada ($X) remains the key foreign market for coconut, abaca, ramie and other vegetable textile fibres exports from the United States, comprising 77% of total exports. The second position in the ranking was held by Mexico ($X), with a 6.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Canada amounted to +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+6.4% per year) and Bermuda (+34.7% per year).

Export Prices by Country

The average export price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, picking up by 15% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 24% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bermuda ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+4.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Imports into the U.S.

After three years of growth, supplies from abroad of coconut, abaca, ramie and other vegetable textile fibres decreased by -29.3% to X tons in 2022. Over the period under review, imports, however, continue to indicate a notable expansion. The most prominent rate of growth was recorded in 2015 with an increase of 81% against the previous year. Over the period under review, imports of hit record highs at X tons in 2021, and then shrank rapidly in the following year.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres shrank markedly to $X in 2022. Overall, imports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2015 when imports increased by 67%. Over the period under review, imports of hit record highs at $X in 2021, and then shrank sharply in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest coconut, abaca, ramie and other vegetable textile fibre supplier to the United States, with a 76% share of total imports. Moreover, imports of coconut, abaca, ramie and other vegetable textile fibres from India exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tons), fourfold. The third position in this ranking was taken by the Netherlands (X tons), with a 2.1% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (-1.6% per year) and the Netherlands (+15.3% per year).

In value terms, India ($X) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibres to the United States, comprising 73% of total imports. The second position in the ranking was held by Sri Lanka ($X), with a 22% share of total imports. It was followed by the Netherlands, with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+2.7% per year) and the Netherlands (+13.3% per year).

Import Prices by Country

The average import price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, increasing by 16% against the previous year. Over the last decade, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2013 an increase of 46%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while the price for the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform