U.S.: Market for Jute And Jute-Like Fibers 2023

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

In 2021, the U.S. jute and jute-like fibers market increased by 76% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption showed perceptible growth. Jute and jute-like fibers consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Exports of Jute And Jute-Like Fibers

Exports from the U.S.

After three years of growth, overseas shipments of jute and jute-like fibers decreased by -36% to X tons in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 98% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then reduced markedly in the following year.

In value terms, jute and jute-like fibers exports shrank notably to $X in 2021. In general, exports continue to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2018 with an increase of 118%. Over the period under review, the exports hit record highs at $X in 2020, and then declined sharply in the following year.

Exports by Country

Canada (X tons), Mexico (X tons) and Nigeria (X tons) were the main destinations of jute and jute-like fibers exports from the United States, with a combined 71% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nigeria (with a CAGR of +54.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for jute and jute-like fibers exported from the United States were Canada ($X), Nigeria ($X) and Mexico ($X), together comprising 85% of total exports.

Nigeria, with a CAGR of +65.3%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average jute and jute-like fibers export price stood at $X per ton in 2021, reducing by -30.3% against the previous year. In general, the export price showed a pronounced downturn. The pace of growth was the most pronounced in 2014 when the average export price increased by 62% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+57.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Jute And Jute-Like Fibers

Imports into the U.S.

In 2021, supplies from abroad of jute and jute-like fibers increased by 76% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, jute and jute-like fibers imports soared to $X in 2021. In general, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Bangladesh (X tons) constituted the largest supplier of jute and jute-like fibers to the United States, accounting for a 76% share of total imports. Moreover, jute and jute-like fibers imports from Bangladesh exceeded the figures recorded by the second-largest supplier, Turkey (X tons), eightfold. The third position in this ranking was taken by India (X tons), with an 8.5% share.

From 2012 to 2021, the average annual growth rate of volume from Bangladesh totaled -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+65.6% per year) and India (+7.8% per year).

In value terms, Bangladesh ($X) constituted the largest supplier of jute and jute-like fibers to the United States, comprising 63% of total imports. The second position in the ranking was held by India ($X), with a 13% share of total imports. It was followed by the Dominican Republic, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Bangladesh was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.5% per year) and the Dominican Republic (0.0% per year).

Import Prices by Country

In 2021, the average jute and jute-like fibers import price amounted to $X per ton, rising by 38% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Dominican Republic ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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