U.S.: Overview of the Market for Jute And Jute-Like Fibers 2021

Market Size for Jute And Jute-Like Fibers in the U.S.

In 2019, the U.S. jute and jute-like fibers market was finally on the rise to reach $X for the first time since 2016, thus ending a two-year declining trend. In general, consumption, however, showed a abrupt decrease. The pace of growth was the most pronounced in 2015 when the market value increased by X% against the previous year. Over the period under review, the market hit record highs at $X in 2008; however, from 2009 to 2019, consumption failed to regain the momentum.

Exports of Jute And Jute-Like Fibers

Exports from the U.S.

In 2019, after three years of growth, there was decline in overseas shipments of jute and jute-like fibers, when their volume decreased by -X% to X tonnes. In general, exports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Exports peaked at X tonnes in 2018, and then shrank slightly in the following year.

In value terms, jute and jute-like fibers exports totaled $X in 2019. Overall, exports, however, posted a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. Exports peaked in 2019 and are likely to see steady growth in the near future.

Exports by Country

Nigeria (X tonnes) was the main destination for jute and jute-like fibers exports from the U.S., accounting for a X% share of total exports. It was followed by Canada (X tonnes), with a X% share of total exports.

From 2007 to 2019, the average annual growth rate of volume to Nigeria amounted to +X%.

In value terms, Nigeria ($X) remains the key foreign market for jute and jute-like fibers exports from the U.S., comprising X% of total exports. The second position in the ranking was occupied by Canada ($X), with a X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of value to Nigeria totaled +X%.

Export Prices by Country

In 2019, the average jute and jute-like fibers export price amounted to $X per tonne, picking up by X% against the previous year. Overall, the export price, however, saw a slight shrinkage. The pace of growth appeared the most rapid in 2012 an increase of X% year-to-year. Over the period under review, average export prices reached the peak figure at $X per tonne in 2008; however, from 2009 to 2019, export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2019, the country with the highest price was Nigeria ($X per tonne), while the average price for exports to Canada stood at $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Canada.

Imports of Jute And Jute-Like Fibers

Imports into the U.S.

In 2019, the amount of jute and jute-like fibers imported into the U.S. was estimated at X tonnes, approximately equating 2018. In general, imports, however, recorded a deep setback. The growth pace was the most rapid in 2010 with an increase of X% against the previous year. Imports peaked at X tonnes in 2007; however, from 2008 to 2019, imports failed to regain the momentum.

In value terms, jute and jute-like fibers imports reached $X in 2019. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X% year-to-year. Imports peaked at $X in 2017; however, from 2018 to 2019, imports failed to regain the momentum.

Imports by Country

In 2019, Bangladesh (X tonnes) constituted the largest jute and jute-like fibers supplier to the U.S., with a X% share of total imports. Moreover, jute and jute-like fibers imports from Bangladesh exceeded the figures recorded by the second-largest supplier, South Korea (X tonnes), fourfold.

From 2007 to 2019, the average annual rate of growth in terms of volume from Bangladesh amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+X% per year) and India (-X% per year).

In value terms, Bangladesh ($X) constituted the largest supplier of jute and jute-like fibers to the U.S., comprising X% of total imports. The second position in the ranking was occupied by South Korea ($X), with a X% share of total imports.

From 2007 to 2019, the average annual rate of growth in terms of value from Bangladesh stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+X% per year) and India (+X% per year).

Import Prices by Country

In 2019, the average jute and jute-like fibers import price amounted to $X per tonne, picking up by X% against the previous year. Overall, import price indicated prominent growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, jute and jute-like fibers import price increased by +X% against 2009 indices. The pace of growth appeared the most rapid in 2009 when the average import price increased by X% against the previous year. The import price peaked in 2019 and is expected to retain growth in the immediate term.

Prices varied noticeably by the country of origin; the country with the highest price was India ($X per tonne), while the price for Bangladesh ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by South Korea, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for jute and jute-like fibers in the world?

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The countries with the highest volumes of jute and jute-like fibers consumption in 2019 were India (2.1M tonnes), Bangladesh (1.4M tonnes) and Pakistan (94K tonnes), with a combined 91% share of global consumption.

What are the largest producers of jute and jute-like fibers in the world?

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The countries with the highest volumes of jute and jute-like fibers production in 2019 were India (2.1M tonnes) and Bangladesh (1.6M tonnes), together comprising 93% of global production.

What are the leading suppliers of jute and jute-like fibers to the U.S.?

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In value terms, Bangladesh ($1.7M) constituted the largest supplier of jute and jute-like fibers to the U.S., comprising 58% of total imports. The second position in the ranking was occupied by South Korea ($634K), with a 22% share of total imports.

What are the leading importers of jute and jute-like fibers from the U.S.?

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In value terms, Nigeria ($1.1M) remains the key foreign market for jute and jute-like fibers exports from the U.S., comprising 95% of total exports. The second position in the ranking was occupied by Canada ($27K), with a 2.3% share of total exports.

What is the average export price for jute and jute-like fibers in the U.S.?

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In 2019, the average jute and jute-like fibers export price amounted to $773 per tonne, growing by 5.8% against the previous year.

What is the average import price for jute and jute-like fibers in the U.S.?

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The average jute and jute-like fibers import price stood at $1,512 per tonne in 2019, rising by 5.2% against the previous year.