Eastern Asia: Non-Cotton Terry Towelling Market 2024

Non-Cotton Terry Towelling Market Size in Eastern Asia

In 2023, the East Asian non-cotton terry towelling market increased by X% to $X, rising for the fifth year in a row after four years of decline. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Non-Cotton Terry Towelling Production in Eastern Asia

In value terms, non-cotton terry towelling production stood at $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2023, production growth remained at a lower figure.

Non-Cotton Terry Towelling Exports

Exports in Eastern Asia

In 2023, shipments abroad of terry towelling (excluding of cotton) was finally on the rise to reach X square meters for the first time since 2020, thus ending a two-year declining trend. Over the period under review, exports posted moderate growth. The growth pace was the most rapid in 2015 with an increase of X%. The volume of export peaked at X square meters in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, non-cotton terry towelling exports dropped to $X in 2023. Total exports indicated a resilient increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of X%. The level of export peaked at $X in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

Exports by Country

China dominates exports structure, recording X square meters, which was near X% of total exports in 2023. Taiwan (Chinese) (X square meters) took the second position in the ranking, followed by South Korea (X square meters). All these countries together took near X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to non-cotton terry towelling exports from China stood at X%. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, South Korea (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China and Taiwan (Chinese) increased by X and X percentage points, respectively.

In value terms, China ($X) remains the largest non-cotton terry towelling supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in China totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per square meter, falling by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per square meter, and then reduced in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was South Korea ($X per square meter), while China ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the export price figures.

Non-Cotton Terry Towelling Imports

Imports in Eastern Asia

In 2023, the amount of terry towelling (excluding of cotton) imported in Eastern Asia amounted to X square meters, increasing by X% against 2022 figures. In general, imports, however, continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X square meters in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, non-cotton terry towelling imports rose remarkably to $X in 2023. Overall, imports recorded a temperate expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in years to come.

Imports by Country

South Korea (X square meters), Japan (X square meters) and China (X square meters) represented roughly X% of total imports in 2023. It was distantly followed by Hong Kong SAR (X square meters), constituting a X% share of total imports. Taiwan (Chinese) (X square meters) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Japan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

South Korea, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per square meter in 2023, approximately reflecting the previous year. Import price indicated buoyant growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, non-cotton terry towelling import price increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2015 when the import price increased by X% against the previous year. The level of import peaked at $X per square meter in 2022, and then contracted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per square meter), while South Korea ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform