Asia-Pacific: Hemp Tow Market 2024

Hemp Tow Market Size in Asia-Pacific

The Asia-Pacific hemp tow market contracted to $X in 2022, dropping by X% against the previous year. Over the period under review, consumption saw a prominent increase. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Hemp Tow Production in Asia-Pacific

In value terms, hemp tow production dropped dramatically to $X in 2022 estimated in export price. Over the period under review, production saw a prominent expansion. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

China (X tons) constituted the country with the largest volume of hemp tow production, comprising approx. 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 growth rate of volume in China totaled X%.

In 2022, the average yield of hemp tow in Asia-Pacific stood at X tons per ha, remaining relatively unchanged against the previous year's figure. Overall, the yield showed buoyant growth. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, the hemp tow yield reached the maximum level 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-Pacific rose to X ha, surging by X% against 2021. The total harvested area indicated a tangible 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 most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the harvested area dedicated to hemp tow production attained the peak figure at X ha in 2017; however, from 2018 to 2022, the harvested area stood at a somewhat lower figure.

Hemp Tow Exports

Exports in Asia-Pacific

In 2022, overseas shipments of hemp tow decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then reduced dramatically in the following year.

In value terms, hemp tow exports fell rapidly to $X in 2022. In general, exports, however, continue to indicate a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then fell significantly in the following year.

Exports by Country

China represented the key exporter of hemp tow in Asia-Pacific, with the volume of exports reaching X tons, which was near X% of total exports in 2022. New Zealand (X tons) ranks second in terms of the total exports with a X% share, followed by Bangladesh (X%). The following exporters - Australia (X tons) and India (X tons) - together made up X% of total exports.

China was also the fastest-growing in terms of the hemp tow exports, with a CAGR of X% from 2012 to 2022. New Zealand and Bangladesh experienced a relatively flat trend pattern. India (X%) and Australia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, New Zealand and Australia increased by X, X and X percentage points, respectively.

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

From 2012 to 2022, the average annual growth rate of value in China stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Australia (X% per year) and New Zealand (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price enjoyed tangible growth. The most prominent rate of growth was recorded in 2017 an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

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

Hemp Tow Imports

Imports in Asia-Pacific

For the fourth year in a row, Asia-Pacific recorded growth in supplies from abroad of hemp tow, which increased by X% to X tons in 2022. Over the period under review, imports posted significant growth. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, hemp tow imports declined to $X in 2022. In general, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

In 2022, China (X tons) represented the major importer of hemp tow, making up X% of total imports. Australia (X tons) took the second position in the ranking, distantly followed by Pakistan (X tons). All these countries together took near X% share of total imports. India (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to hemp tow imports into China stood at X%. At the same time, Pakistan (X%), India (X%) and Australia (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. While the share of China (X p.p.), Pakistan (X p.p.) and India (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Australia (X p.p.) displayed negative dynamics.

In value terms, China ($X), Pakistan ($X) and Australia ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports.

In terms of the main importing countries, Pakistan, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the import price in Asia-Pacific amounted to $X per ton, reducing by X% against the previous year. Overall, the import price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded 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 somewhat 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 ($X per ton), while Australia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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