Cotton Linters Market

The article provides a detailed analysis of the global cotton linters market, highlighting consumption trends, production volumes, and import/export data. It includes forecasted growth rates and value projections for the period 2022-2030. Key market players and major importing/exporting countries are also identified, along with insights into average import/export prices and notable growth rates. The information presented offers valuable insights for stakeholders interested in the cotton linters market.

Market Forecast

Driven by increasing demand for cotton linters worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market volume to 1.2M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +7.6% for the period from 2022 to 2030, which is projected to bring the market value to $2.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Cotton Linters

In 2022, consumption of cotton linters was finally on the rise to reach 991K tons for the first time since 2019, thus ending a two-year declining trend. The total consumption volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak volume of 1.1M tons. From 2020 to 2022, the growth of the global consumption failed to regain momentum.

The global cotton linters market revenue expanded markedly to $1.5B in 2022, growing by 14% 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). Over the period under review, consumption enjoyed a notable expansion. As a result, consumption reached the peak level of $2.8B. From 2020 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Pakistan (273K tons), Turkey (179K tons) and the United States (103K tons), with a combined 56% share of global consumption. India, China, Syrian Arab Republic, Turkmenistan, South Africa, Brazil, Zimbabwe, Spain and Japan lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by India (with a CAGR of +18.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Turkey ($950M) led the market, alone. The second position in the ranking was held by Pakistan ($224M). It was followed by the United States.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +5.9%. The remaining consuming countries recorded the following average annual rates of market growth: Pakistan (+0.6% per year) and the United States (+2.6% per year).

In 2022, the highest levels of cotton linters per capita consumption was registered in Turkmenistan (5.1 kg per person), followed by Turkey (2.1 kg per person), Syrian Arab Republic (1.8 kg per person) and Zimbabwe (1.3 kg per person), while the world average per capita consumption of cotton linters was estimated at 0.1 kg per person.

In Turkmenistan, cotton linters per capita consumption increased at an average annual rate of +7.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (+4.5% per year) and Syrian Arab Republic (+1.4% per year).

Production

World Production of Cotton Linters

In 2022, production of cotton linters was finally on the rise to reach 962K tons for the first time since 2019, thus ending a two-year declining trend. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 31% against the previous year. As a result, production attained the peak volume of 1.3M tons. From 2017 to 2022, global production growth remained at a lower figure.

In value terms, cotton linters production shrank remarkably to $1.5B in 2022 estimated in export price. Overall, production recorded modest growth. The pace of growth was the most pronounced in 2019 when the production volume increased by 116% against the previous year. As a result, production attained the peak level of $5.3B. From 2020 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Pakistan (273K tons), Turkey (212K tons) and India (107K tons), together accounting for 62% of global production.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +3.5%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Cotton Linters

In 2022, global imports of cotton linters fell remarkably to 159K tons, dropping by -35.3% on the year before. Over the period under review, imports recorded a pronounced shrinkage. The growth pace was the most rapid in 2021 when imports increased by 84% against the previous year. Global imports peaked at 256K tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, cotton linters imports contracted to $97M in 2022. In general, imports showed a noticeable decrease. The growth pace was the most rapid in 2021 with an increase of 53% against the previous year. Global imports peaked at $150M in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports By Country

China was the key importing country with an import of around 90K tons, which resulted at 57% of total imports. Spain (17K tons) ranks second in terms of the total imports with an 11% share, followed by Japan (9.5%), the United States (6.1%) and Canada (5.8%). Bangladesh (4.9K tons) and Iran (2.9K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to cotton linters imports into China stood at -6.2%. At the same time, Canada (+61.3%), Iran (+32.7%), the United States (+17.6%), Bangladesh (+16.1%) and Spain (+2.6%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in the world, with a CAGR of +61.3% from 2012-2022. By contrast, Japan (-7.0%) illustrated a downward trend over the same period. Canada (+5.8 p.p.), the United States (+5.3 p.p.), Spain (+5 p.p.), Bangladesh (+2.6 p.p.) and Iran (+1.8 p.p.) significantly strengthened its position in terms of the global imports, while Japan and China saw its share reduced by -4.1% and -17.9% from 2012 to 2022, respectively.

In value terms, China ($50M) constitutes the largest market for imported cotton linters worldwide, comprising 52% of global imports. The second position in the ranking was taken by Japan ($9.8M), with a 10% share of global imports. It was followed by Bangladesh, with an 8.4% share.

In China, cotton linters imports plunged by an average annual rate of -5.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-11.3% per year) and Bangladesh (+13.8% per year).

Import Prices By Country

The average cotton linters import price stood at $611 per ton in 2022, rising by 42% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 76% against the previous year. As a result, import price attained the peak level of $770 per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bangladesh ($1,650 per ton), while Spain ($383 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.9%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Cotton Linters

In 2022, approx. 130K tons of cotton linters were exported worldwide; declining by -48.9% compared with the previous year's figure. Over the period under review, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2016 when exports increased by 102% against the previous year. As a result, the exports reached the peak of 492K tons. From 2017 to 2022, the growth of the global exports failed to regain momentum.

In value terms, cotton linters exports reduced notably to $82M in 2022. Overall, exports recorded a abrupt decline. The pace of growth appeared the most rapid in 2021 with an increase of 21%. Over the period under review, the global exports hit record highs at $170M in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports By Country

Turkey (34K tons) and Brazil (32K tons) represented roughly 51% of total exports in 2022. It was distantly followed by India (14K tons), the United States (12K tons), Turkmenistan (11K tons) and Greece (6.7K tons), together committing a 34% share of total exports. The following exporters - Zimbabwe (3.1K tons) and Mali (2.8K tons) - each accounted for a 4.5% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +22.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest cotton linters supplying countries worldwide were Turkey ($19M), Brazil ($14M) and Mali ($12M), together comprising 54% of global exports.

Mali, with a CAGR of +16.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced mixed trends in the exports figures.

Export Prices By Country

In 2022, the average cotton linters export price amounted to $630 per ton, jumping by 37% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 172%. The global export price peaked at $765 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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 Mali ($4,133 per ton), while Greece ($394 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+4.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform