China: Non-Cotton Terry Towelling Market 2024

Non-Cotton Terry Towelling Market Size in China

In 2023, the Chinese non-cotton terry towelling market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Overall, consumption saw a abrupt shrinkage. 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 China

In value terms, non-cotton terry towelling production expanded modestly to $X in 2023 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was 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 somewhat lower figure.

Non-Cotton Terry Towelling Exports

Exports from China

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 enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports reached the peak figure at X square meters in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

In value terms, non-cotton terry towelling exports contracted to $X in 2023. In general, exports enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

Exports by Country

Vietnam (X square meters) was the main destination for non-cotton terry towelling exports from China, with a X% share of total exports. Moreover, non-cotton terry towelling exports to Vietnam exceeded the volume sent to the second major destination, Mexico (X square meters), fivefold. The third position in this ranking was held by Democratic People's Republic of Korea (X square meters), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Vietnam stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Democratic People's Republic of Korea (X% per year).

In value terms, Vietnam ($X) remains the key foreign market for terry towelling (excluding of cotton) exports from China, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Argentina, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Vietnam stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Argentina (X% per year).

Export Prices by Country

In 2023, the average non-cotton terry towelling export price amounted to $X per square meter, declining by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2022 when the average export price increased by X%. As a result, the export price reached the peak level of $X per square meter, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per square meter), while the average price for exports to Democratic People's Republic of Korea ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Cotton Terry Towelling Imports

Imports into China

In 2023, after four years of growth, there was significant decline in purchases abroad of terry towelling (excluding of cotton), when their volume decreased by X% to X square meters. Overall, imports saw a abrupt decline. The growth pace was the most rapid in 2019 with an increase of X%. Imports peaked at X square meters in 2013; however, from 2014 to 2023, imports remained at a lower figure.

In value terms, non-cotton terry towelling imports dropped rapidly to $X in 2023. Over the period under review, imports saw a deep setback. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

South Korea (X square meters), France (X square meters) and the United States (X square meters) were the main suppliers of non-cotton terry towelling imports to China, together comprising X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, South Korea ($X), France ($X) and Taiwan (Chinese) ($X) constituted the largest non-cotton terry towelling suppliers to China, together accounting for X% of total imports.

In terms of the main suppliers, France, with a CAGR of X%, recorded 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

In 2023, the average non-cotton terry towelling import price amounted to $X per square meter, increasing by X% against the previous year. Over the period under review, the import price saw strong growth. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum in 2023 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per square meter), while the price for South Korea ($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 Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform