Asia: Hemp Tow Market 2024

Hemp Tow Market Size in Asia

The Asian hemp tow market fell modestly to $X in 2022, shrinking by X% against the previous year. Overall, consumption showed a remarkable increase. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Hemp Tow Production in Asia

In value terms, hemp tow production contracted sharply to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

China (X tons) remains the largest hemp tow producing country in Asia, accounting for X% of total volume. Moreover, hemp tow production in China exceeded the figures recorded by the second-largest producer, Democratic People's Republic of Korea (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled X%.

In 2022, the average hemp tow yield in Asia reached X tons per ha, approximately mirroring 2021. Over the period under review, the yield saw buoyant growth. The pace of growth was the most pronounced in 2016 when the yield increased by X% against the previous year. Over the period under review, the hemp tow yield hit record highs at X tons per ha in 2017; however, from 2018 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the hemp tow harvested area in Asia reached X ha, increasing by X% compared with 2021. The total harvested area indicated a noticeable expansion from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hemp tow harvested area decreased by X% against 2017 indices. The growth pace was the most rapid in 2016 with an increase of X%. The level of harvested area peaked at X ha in 2017; however, from 2018 to 2022, the harvested area failed to regain momentum.

Hemp Tow Exports

Exports in Asia

In 2022, after three years of growth, there was significant decline in overseas shipments of hemp tow, when their volume decreased by X% to X tons. Over the period under review, exports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of X tons, and then fell dramatically in the following year.

In value terms, hemp tow exports plummeted to $X in 2022. In general, exports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then dropped sharply in the following year.

Exports by Country

China dominates exports structure, amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by Bangladesh (X tons), committing a X% share of total exports. The following exporters - Turkey (X tons) and India (X tons) - each resulted at a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to hemp tow exports from China stood at X%. At the same time, Turkey (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. Bangladesh experienced a relatively flat trend pattern. By contrast, India (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and Turkey (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Bangladesh (X p.p.) and India (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest hemp tow supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports. It was followed by Bangladesh, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to X%. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Bangladesh (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, rising by X% against the previous year. Export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hemp tow export price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (X%), while the other leaders experienced a decline in the export price figures.

Hemp Tow Imports

Imports in Asia

Hemp tow imports surged to X tons in 2022, jumping by X% compared with the previous year. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, hemp tow imports shrank rapidly to $X in 2022. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then dropped significantly in the following year.

Imports by Country

China prevails in imports structure, amounting to X tons, which was near X% of total imports in 2022. It was distantly followed by Turkey (X tons) and Pakistan (X tons), together constituting a X% share of total imports. India (X tons) and Israel (X tons) took a relatively small share of total imports.

Imports into China increased at an average annual rate of X% from 2012 to 2022. At the same time, Pakistan (X%), India (X%), Turkey (X%) and Israel (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of China, Turkey, Pakistan, India and Israel increased by X, X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Pakistan ($X) and Turkey ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Among the main importing countries, Pakistan, with a CAGR of X%, saw the highest growth rate of the value of imports, 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 Asia stood at $X per ton in 2022, declining by X% against the previous year. In general, the import price saw a abrupt shrinkage. The pace of growth was the most pronounced in 2014 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Pakistan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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