Global Hemp Tow Market 2023

Hemp Tow Market Size

The global hemp tow market fell to $X in 2022, almost unchanged from the previous year. Overall, consumption, however, enjoyed strong growth. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the global market remained at a lower figure.

Hemp Tow Production

In value terms, hemp tow production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, showed a resilient increase. The growth pace was the most rapid in 2017 with an increase of 367% against the previous year. Over the period under review, global production reached the peak level in 2022 and is likely to continue growth in the near future.

The countries with the highest volumes of production in 2022 were France (X tons), China (X tons) and the Netherlands (X tons), together accounting for 76% of global production. Democratic People's Republic of Korea, Poland, Austria and Italy lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Poland (with a CAGR of +18.8%), while production for the other global leaders experienced more modest paces of growth.

In 2022, the global average hemp tow yield reduced slightly to X tons per ha, waning by -3.5% compared with the previous year. The yield figure increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 25%. Over the period under review, the average hemp tow yield reached the peak level at X tons per ha in 2017; however, from 2018 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The global hemp tow harvested area stood at X ha in 2022, growing by 1.6% on 2021. Overall, the total harvested area indicated moderate growth from 2012 to 2022: its figure increased at an average annual rate of +4.1% 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 -1.5% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 21%. Over the period under review, the harvested area dedicated to hemp tow production attained the peak figure at X ha in 2020; however, from 2021 to 2022, the harvested area failed to regain momentum.

Hemp Tow Exports

Exports

For the third consecutive year, the global market recorded growth in shipments abroad of hemp tow, which increased by 14% to X tons in 2022. Overall, exports posted significant growth. The pace of growth appeared the most rapid in 2016 when exports increased by 379% against the previous year. Over the period under review, the global exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, hemp tow exports fell rapidly to $X in 2022. In general, exports saw significant growth. The pace of growth was the most pronounced in 2016 with an increase of 154% against the previous year. The global exports peaked at $X in 2021, and then reduced sharply in the following year.

Exports by Country

The Netherlands dominates exports structure, amounting to X tons, which was approx. 75% of total exports in 2022. Spain (X tons), Romania (X tons), the United States (X tons), Canada (X tons), Lithuania (X tons) and Belgium (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to hemp tow exports from the Netherlands stood at +29.3%. At the same time, Romania (+100.5%), Lithuania (+70.5%), Canada (+33.1%), Spain (+29.2%), the United States (+18.5%) and Belgium (+12.6%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing exporter exported in the world, with a CAGR of +100.5% from 2012-2022. From 2012 to 2022, the share of the Netherlands, Romania and Lithuania increased by +29, +3.6 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest hemp tow supplier worldwide, comprising 41% of global exports. The second position in the ranking was taken by the United States ($X), with a 4.2% share of global exports. It was followed by Spain, with a 2.9% share.

From 2012 to 2022, the average annual growth rate of value in the Netherlands totaled +19.6%. In the other countries, the average annual rates were as follows: the United States (+37.3% per year) and Spain (+30.3% per year).

Export Prices by Country

In 2022, the average hemp tow export price amounted to $X per ton, which is down by -34.2% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 51%. The global export price peaked at $X per ton in 2021, and then dropped dramatically 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 the United States ($X per ton), while Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+27.4%), while the other global leaders experienced more modest paces of growth.

Hemp Tow Imports

Imports

In 2022, supplies from abroad of hemp tow decreased by -16.1% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, showed tangible growth. The pace of growth appeared the most rapid in 2020 when imports increased by 40%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of global imports remained at a lower figure.

In value terms, hemp tow imports fell significantly to $X in 2022. Overall, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2020 when imports increased by 163%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of global imports remained at a somewhat lower figure.

Imports by Country

The countries with the highest levels of hemp tow imports in 2022 were Germany (X tons), the Czech Republic (X tons), Denmark (X tons), the UK (X tons), China (X tons), France (X tons), Belgium (X tons) and the United States (X tons), together accounting for 84% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of +65.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest hemp tow importing markets worldwide were Germany ($X), the Czech Republic ($X) and the UK ($X), together accounting for 34% of global imports. China, France, Denmark, Belgium and the United States lagged somewhat behind, together comprising a further 27%.

In terms of the main importing countries, China, with a CAGR of +50.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average hemp tow import price stood at $X per ton in 2022, shrinking by -10.1% against the previous year. In general, the import price, however, recorded a temperate increase. The pace of growth was the most pronounced in 2020 when the average import price increased by 88% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average 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 France ($X per ton), while Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+0.2%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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