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Global Jute Market 2019 – Bangladesh Continues to Dominate Exports, Despite Decline in the Past Few Years

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Global Jute Market 2019 – Bangladesh Continues to Dominate Exports, Despite Decline in the Past Few Years

IndexBox has just published a new report: ‘World – Jute And Jute-Like Fibers – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The global jute market revenue amounted to $2.7B in 2018, going up by 4.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.4% over the period from 2007 to 2018; the trend pattern remained consistent, with only minor fluctuations being observed over the period under review. The pace of growth was the most pronounced in 2011 when the market value increased by 18% year-to-year. In that year, the global jute market reached its peak level of $2.9B. From 2012 to 2018, the growth of the global jute market remained at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of jute consumption in 2018 were India (2.1M tonnes), Bangladesh (1.4M tonnes) and Pakistan (91K tonnes), with a combined 90% share of global consumption.

From 2007 to 2018, the most notable rate of growth in terms of jute consumption, amongst the main consuming countries, was attained by Bangladesh, while the other global leaders experienced mixed trends in the consumption figures.

In value terms, India ($1.2B), Bangladesh ($899M) and Pakistan ($70M) were the countries with the highest levels of market value in 2018, with a combined 79% share of the global market.

In 2018, the highest levels of jute per capita consumption was registered in Bangladesh (8,154 kg per 1000 persons), followed by India (1,552 kg per 1000 persons), Pakistan (453 kg per 1000 persons) and China (54 kg per 1000 persons), while the world average per capita consumption of jute was estimated at 512 kg per 1000 persons.

In Bangladesh, jute per capita consumption expanded at an average annual rate of +14.5% over the period from 2007-2018. In the other countries, the average annual rates were as follows: India (-1.2% per year) and Pakistan (-4.8% per year).

Production 2007-2018

In 2018, approx. 3.9M tonnes of jute and jute–like fibers were produced worldwide; picking up by 2.4% against the previous year. The total output volume increased at an average annual rate of +1.8% over the period from 2007 to 2018; the trend pattern remained relatively stable, with only minor fluctuations being recorded over the period under review. The most prominent rate of growth was recorded in 2011 when production volume increased by 24% year-to-year. In that year, global jute production reached its peak volume of 3.9M tonnes. From 2012 to 2018, global jute production growth remained at a lower figure. The general positive trend in terms of jute output was largely conditioned by mild growth of the harvested area and a modest increase in yield figures.

In value terms, jute production totaled $2.7B in 2018 estimated in export prices. The total output value increased at an average annual rate of +1.8% from 2007 to 2018; the trend pattern remained relatively stable, with only minor fluctuations over the period under review. The most prominent rate of growth was recorded in 2016 with an increase of 19% y-o-y. In that year, global jute production reached its peak level of $2.9B. From 2017 to 2018, global jute production growth remained at a somewhat lower figure.

Production By Country

The countries with the highest volumes of jute production in 2018 were India (2.1M tonnes) and Bangladesh (1.6M tonnes), with a combined 93% share of global production.

From 2007 to 2018, the most notable rate of growth in terms of jute production, amongst the main producing countries, was attained by Bangladesh.

Exports 2007-2018

Global exports totaled 291K tonnes in 2018, increasing by 5.7% against the previous year. Overall, jute exports, however, continue to indicate a deep curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 18% year-to-year. The global exports peaked at 643K tonnes in 2007; however, from 2008 to 2018, exports failed to regain their momentum.

In value terms, jute exports stood at $213M (IndexBox estimates) in 2018. Overall, jute exports, however, continue to indicate a slight drop. The pace of growth was the most pronounced in 2010 with an increase of 48% against the previous year. The global exports peaked at $361M in 2011; however, from 2012 to 2018, exports remained at a lower figure.

Exports by Country

Bangladesh dominates jute exports structure, reaching 229K tonnes, which was near 79% of total exports in 2018. It was distantly followed by India (14K tonnes), creating a 4.8% share of total exports. The following exporters – Tanzania (12,710 tonnes), Belgium (10,536 tonnes), Kenya (8,787 tonnes) and Malaysia (4,638 tonnes) – together made up 13% of total exports.

Exports from Bangladesh decreased at an average annual rate of -8.0% from 2007 to 2018. At the same time, Malaysia (+33.3%), Belgium (+6.0%) and Tanzania (+1.5%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter in the world, with a CAGR of +33.3% from 2007-2018. By contrast, Kenya (-1.9%) and India (-6.6%) illustrated a downward trend over the same period. From 2007 to 2018, the share of Belgium and Malaysia increased by +1.7% and +1.5% percentage points, while India (-5.4 p.p.) and Bangladesh (-117.5 p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bangladesh ($158M) remains the largest jute supplier worldwide, comprising 74% of global exports. The second position in the ranking was occupied by Tanzania ($18M), with a 8.2% share of global exports. It was followed by Kenya, with a 6.5% share.

From 2007 to 2018, the average annual rate of growth in terms of value in Bangladesh amounted to -1.8%. In the other countries, the average annual rates were as follows: Tanzania (+5.8% per year) and Kenya (+2.4% per year).

Export Prices by Country

The average jute export price stood at $734 per tonne in 2018, therefore, remained relatively stable against the previous year. Over the period under review, the export price indicated a prominent increase from 2007 to 2018: its price increased at an average annual rate of +5.8% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, jute export price decreased by -11.1% against 2016 indices. The most prominent rate of growth was recorded in 2010 an increase of 38% year-to-year. Over the period under review, the average export prices for jute and jute–like fibers attained their peak figure at $825 per tonne in 2016; however, from 2017 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Kenya ($1,572 per tonne), while Malaysia ($131 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Bangladesh, while the other global leaders experienced more modest paces of growth.

Imports 2007-2018

In 2018, approx. 295K tonnes of jute and jute–like fibers were imported worldwide; jumping by 8% against the previous year. Over the period under review, jute imports, however, continue to indicate a drastic decline. The most prominent rate of growth was recorded in 2016 when imports increased by 17% y-o-y. The global imports peaked at 496K tonnes in 2007; however, from 2008 to 2018, imports failed to regain their momentum.

In value terms, jute imports amounted to $197M (IndexBox estimates) in 2018. In general, jute imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 with an increase of 59% year-to-year. Over the period under review, global jute imports reached their maximum at $342M in 2011; however, from 2012 to 2018, imports remained at a lower figure.

Imports by Country

Pakistan (91K tonnes) and India (64K tonnes) represented the largest importers of jute and jute–like fibers in 2018, amounting to near 31% and 22% of total imports, respectively. Nepal (41K tonnes) took the next position in the ranking, followed by China (31K tonnes). All these countries together took approx. 25% share of total imports. The following importers – Germany (8,103 tonnes), the UK (6,147 tonnes), Cote d’Ivoire (5,799 tonnes), Brazil (5,503 tonnes) and South Korea (4,465 tonnes) – together made up 10% of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Germany, while the other global leaders experienced more modest paces of growth.

In value terms, the largest jute importing markets worldwide were Pakistan ($49M), India ($40M) and Nepal ($23M), with a combined 56% share of global imports.

Nepal recorded the highest rates of growth with regard to imports, in terms of the main importing countries over the last eleven years, while the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average jute import price stood at $669 per tonne in 2018, going down by -7.9% against the previous year. In general, the import price indicated a buoyant increase from 2007 to 2018: its price increased at an average annual rate of +4.3% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, jute import price decreased by -18.3% against 2016 indices. The pace of growth was the most pronounced in 2010 an increase of 58% year-to-year. Over the period under review, the average import prices for jute and jute–like fibers reached their maximum at $819 per tonne in 2016; however, from 2017 to 2018, import prices failed to regain their momentum.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Cote d’Ivoire ($1,097 per tonne), while China ($501 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Nepal, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

fabric

U.S. Coated Fabric Market Amounted to $4.5B in 2018, with Accelerating Expansion of Imports

IndexBox has just published a new report: ‘U.S. Coated Fabric Market. Analysis And Forecast to 2025’. Here is a summary of the report’s key findings.

The revenue of the coated fabric market in the U.S. amounted to $4.5B in 2018, picking up by 4.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). The market value increased at an average annual rate of +5.5% from 2013 to 2018; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 9.8% year-to-year. Over the period under review, the coated fabric market reached its peak figure level in 2018 and is likely to see steady growth in the immediate term.

Coated Fabric Production in the U.S.

In value terms, coated fabric production stood at $2.6B in 2018. Overall, coated fabric production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when production volume increased by 4.4% year-to-year. In that year, coated fabric production attained its peak level of $2.7B. From 2015 to 2018, coated fabric production growth remained at a somewhat lower figure.

Exports from the U.S.

Coated fabric exports from the U.S. amounted to 13K tonnes in 2018, dropping by -3% against the previous year. Overall, coated fabric exports continue to indicate a noticeable descent. The most prominent rate of growth was recorded in 2017 when exports increased by 4.4% against the previous year. Exports peaked at 15K tonnes in 2013; however, from 2014 to 2018, exports stood at a somewhat lower figure.

In value terms, coated fabric exports amounted to $151M (IndexBox estimates) in 2018. The total export value increased at an average annual rate of +4.2% from 2013 to 2018; the trend pattern remained consistent, with only minor fluctuations being recorded over the period under review. The pace of growth appeared the most rapid in 2015 when exports increased by 11% against the previous year. Exports peaked in 2018 and are expected to retain its growth in the immediate term.

Exports by Country

The Dominican Republic (1.9K tonnes), Germany (1.8K tonnes) and the UK (1.7K tonnes) were the main destinations of coated fabric exports from the U.S., together comprising 43% of total exports. These countries were followed by Mexico, China, the Philippines, Australia, Japan, China, Hong Kong SAR, Brazil, Taiwan, Chinese and India, which together accounted for a further 32%.

From 2013 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by the Philippines (+69.7% per year), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for coated fabric exported from the U.S. were the UK ($22M), the Dominican Republic ($22M) and Germany ($17M), together accounting for 41% of total exports. These countries were followed by Japan, China, the Philippines, China, Hong Kong SAR, Australia, Mexico, India, Brazil and Taiwan, Chinese, which together accounted for a further 34%.

Among the main countries of destination, Taiwan, Chinese (+59.2% per year) experienced the highest rates of growth with regard to exports, over the last five years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The average coated fabric export price stood at $12 per kg in 2018, picking up by 7.4% against the previous year. Over the period from 2013 to 2018, it increased at an average annual rate of +7.7%. The most prominent rate of growth was recorded in 2015 an increase of 13% year-to-year. The export price peaked in 2018 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was Japan ($26 per kg), while the average price for exports to Mexico ($5.6 per kg) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to China, while the prices for the other major destinations experienced more modest paces of growth.

Imports into the U.S.

In 2018, the amount of coated fabrics imported into the U.S. amounted to 215K tonnes, growing by 9.5% against the previous year. Overall, the total imports indicated a buoyant increase from 2013 to 2018: its volume increased at an average annual rate of +12.0% over the last five-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, coated fabric imports increased by +76.1% against 2013 indices. The most prominent rate of growth was recorded in 2017 with an increase of 17% year-to-year. Imports peaked in 2018 and are likely to continue its growth in the immediate term.

In value terms, coated fabric imports stood at $1.1B (IndexBox estimates) in 2018. The total import value increased at an average annual rate of +6.9% over the period from 2013 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by 12% against the previous year. Over the period under review, coated fabric imports attained their maximum in 2018 and are expected to retain its growth in the near future.

Imports by Country

In 2018, China (101K tonnes) constituted the largest coated fabric supplier to the U.S., with a 47% share of total imports. Moreover, coated fabric imports from China exceeded the figures recorded by the second-largest supplier, India (38K tonnes), threefold. The third position in this ranking was occupied by South Korea (16K tonnes), with a 7.3% share.

From 2013 to 2018, the average annual rate of growth in terms of volume from China stood at +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+55.9% per year) and South Korea (+2.2% per year).

In value terms, China ($393M) constituted the largest supplier of coated fabric to the U.S., comprising 36% of total coated fabric imports. The second position in the ranking was occupied by Japan ($97M), with a 9% share of total imports. It was followed by India, with a 8.6% share.

From 2013 to 2018, the average annual growth rate of value from China totaled +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.7% per year) and India (+48.2% per year).

Import Prices by Country

In 2018, the average coated fabric import price amounted to $5,009 per tonne, leveling off at the previous year. Overall, the coated fabric import price continues to indicate an abrupt deduction. The pace of growth appeared the most rapid in 2014 a decrease of -0.1% y-o-y. Over the period under review, the average import prices for coated fabrics reached their maximum at $6,306 per tonne in 2013; however, from 2014 to 2018, import prices failed to regain their momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Japan ($18,533 per tonne), while the price for India ($2,460 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by Thailand, while the prices for the other major suppliers experienced mixed trend patterns.

Companies Mentioned in the Report

Tonoga, The Haartz Corporation, Aoc, Schneller, Beaver Manufacturing Company, Sika Sarnafil, Duro-Last, Shawmut Corporation, Engineered Polymer Solutions, Aberdeen Road Company, Clear Edge Filtration, Holliston, Atlas Resin Proppants, Trelleborg Coated Systems US, Precision Custom Coatings, Adell Plastics, Uniroyal Engineered Products, Dyna-Mix, UIC Maintenance & Manufacturing, Cooley Incorporated, Fiberite, Westlake Pvc Corporation, Dti Leather Solutions, Bondcote Holdings, The Adell Corporation

Source: IndexBox AI Platform