Southern Asia: Hemp Tow Market 2024

Hemp Tow Market Size in Southern Asia

In 2022, the South Asian hemp tow market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. Over the period under review, consumption continues to indicate a strong expansion. The level of consumption peaked at $X in 2021, and then dropped in the following year.

Hemp Tow Production in Southern Asia

In value terms, hemp tow production expanded notably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

The country with the largest volume of hemp tow production was India (X tons), comprising approx. X% of total volume. Moreover, hemp tow production in India exceeded the figures recorded by the second-largest producer, Sri Lanka (X tons), eightfold. The third position in this ranking was taken by Pakistan (X tons), with a X% share.

In India, hemp tow production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Sri Lanka (X% per year) and Pakistan (X% per year).

Hemp Tow Exports

Exports in Southern Asia

In 2022, approx. X tons of hemp tow were exported in Southern Asia; picking up by X% compared with 2021. Overall, exports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, hemp tow exports shrank sharply to $X in 2022. Over the period under review, exports, however, recorded a abrupt decrease. The growth pace was the most rapid in 2019 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Bangladesh represented the major exporter of hemp tow in Southern Asia, with the volume of exports reaching X tons, which was near X% of total exports in 2022. It was distantly followed by India (X tons), constituting a X% share of total exports. Nepal (X kg) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest hemp tow supplying countries in Southern Asia were Bangladesh ($X), India ($X) and Nepal ($X), together accounting for X% of total exports.

Among the main exporting countries, Bangladesh, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2021, and then shrank markedly in the following year.

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 Nepal ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

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

Hemp Tow Imports

Imports in Southern Asia

In 2022, purchases abroad of hemp tow increased by X% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, imports saw a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 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 shrank significantly to $X in 2022. In general, imports saw a significant expansion. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

Pakistan (X tons) and India (X tons) dominates imports structure, together creating X% of total imports. It was distantly followed by Bangladesh (X tons), creating a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Pakistan ($X) constitutes the largest market for imported hemp tow in Southern Asia, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports.

In Pakistan, hemp tow imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (X% per year) and Bangladesh (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the import price saw a deep reduction. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Bangladesh ($X per ton), while India ($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 mixed trends in the import price figures.

Source: IndexBox Platform

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