Global Twine, Cordage, Rope, and Cables Market to Reach 4.1M Tons by 2030, with +4.3% CAGR

IndexBox has just published a new report: World - Twine, Cordage, Rope And Cables - Market Analysis, Forecast, Size, Trends and Insights.

The twine, cordage, rope, and cables market is set to experience a steady upward consumption trend from 2024 to 2030, with expected CAGR rates of +4.3% in volume and +6.1% in value. By the end of 2030, market volume is projected to reach 4.1M tons, while market value is forecasted to hit $15.8B in nominal prices.

Market Forecast

Driven by increasing demand for twine, cordage, rope and cables worldwide, the market is expected to continue an upward consumption trend over the next six-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +4.3% for the period from 2024 to 2030, which is projected to bring the market volume to 4.1M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.1% for the period from 2024 to 2030, which is projected to bring the market value to $15.8B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Twine, Cordage, Rope And Cables

In 2024, the amount of twine, cordage, rope and cables consumed worldwide amounted to 3.2M tons, standing approx. at the year before. Over the period under review, the total consumption indicated buoyant growth from 2013 to 2024: its volume increased at an average annual rate of +5.8% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -4.7% against 2022 indices. Over the period under review, global consumption attained the peak volume at 3.3M tons in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

The global twine and cordage market size was estimated at $11.1B in 2024, therefore, remained relatively stable 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). In general, the total consumption indicated a perceptible increase from 2013 to 2024: its value increased at an average annual rate of +4.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -7.2% against 2022 indices. Over the period under review, the global market attained the maximum level at $12B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2024 were China (616K tons), Brazil (444K tons) and India (276K tons), together accounting for 42% of global consumption. The United States, Turkey, Russia, Pakistan, Mexico, Iran and Bangladesh lagged somewhat behind, together comprising a further 23%.

From 2013 to 2024, the biggest increases were recorded for Turkey (with a CAGR of +24.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest twine and cordage markets worldwide were China ($2.2B), the United States ($1.6B) and Brazil ($904M), with a combined 42% share of the global market. India, Mexico, Russia, Turkey, Pakistan, Bangladesh and Iran lagged somewhat behind, together accounting for a further 19%.

Turkey, with a CAGR of +22.0%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of twine and cordage per capita consumption in 2024 were Brazil (2,038 kg per 1000 persons), Turkey (1,487 kg per 1000 persons) and Russia (787 kg per 1000 persons).

From 2013 to 2024, the biggest increases were recorded for Turkey (with a CAGR of +23.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Twine, Cordage, Rope And Cables

Global twine and cordage production reached 3.4M tons in 2024, picking up by 1.6% against the previous year's figure. Overall, the total production indicated strong growth from 2013 to 2024: its volume increased at an average annual rate of +5.9% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -1.8% against 2022 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 17%. Over the period under review, global production hit record highs at 3.4M tons in 2022; afterwards, it flattened through to 2024.

In value terms, twine and cordage production totaled $12B in 2024 estimated in export price. In general, the total production indicated a pronounced increase from 2013 to 2024: its value increased at an average annual rate of +4.9% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -5.7% against 2022 indices. The most prominent rate of growth was recorded in 2021 with an increase of 10%. Over the period under review, global production reached the maximum level at $12.8B in 2022; however, from 2023 to 2024, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2024 were China (887K tons), Brazil (453K tons) and India (311K tons), with a combined 49% share of global production. The United States, Turkey, Portugal, Russia, Pakistan, Mexico and Bangladesh lagged somewhat behind, together comprising a further 23%.

From 2013 to 2024, the biggest increases were recorded for Turkey (with a CAGR of +24.4%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Twine, Cordage, Rope And Cables

In 2024, supplies from abroad of twine, cordage, rope and cables decreased by -2% to 610K tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +1.1% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 7%. Over the period under review, global imports reached the peak figure at 749K tons in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.

In value terms, twine and cordage imports reduced slightly to $2.4B in 2024. The total import value increased at an average annual rate of +1.6% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 18%. Global imports peaked at $2.8B in 2022; however, from 2023 to 2024, imports remained at a lower figure.

Imports By Country

In 2024, the United States (76K tons), distantly followed by Indonesia (30K tons) and India (29K tons) represented the largest importers of twine, cordage, rope and cables, together comprising 22% of total imports. Chile (21K tons), the UK (17K tons), France (16K tons), Vietnam (16K tons), Singapore (15K tons), Canada (14K tons) and Germany (14K tons) followed a long way behind the leaders.

The United States experienced a relatively flat trend pattern with regard to volume of imports of twine, cordage, rope and cables. At the same time, Chile (+16.6%), India (+8.4%), Vietnam (+7.1%) and Indonesia (+5.4%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in the world, with a CAGR of +16.6% from 2013-2024. The UK experienced a relatively flat trend pattern. By contrast, Singapore (-1.3%), Canada (-2.5%), France (-4.9%) and Germany (-5.4%) illustrated a downward trend over the same period. From 2013 to 2024, the share of Chile, India and Indonesia increased by +2.7, +2.6 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($295M) constitutes the largest market for imported twine, cordage, rope and cables worldwide, comprising 12% of global imports. The second position in the ranking was taken by Vietnam ($99M), with a 4.1% share of global imports. It was followed by Indonesia, with a 3.8% share.

From 2013 to 2024, the average annual rate of growth in terms of value in the United States was relatively modest. In the other countries, the average annual rates were as follows: Vietnam (+6.3% per year) and Indonesia (+7.4% per year).

Import Prices By Country

The average twine and cordage import price stood at $3,934 per ton in 2024, stabilizing at the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 11%. Global import price peaked in 2024 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($6,305 per ton), while India ($1,631 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Singapore (+3.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Twine, Cordage, Rope And Cables

In 2024, after two years of decline, there was significant growth in overseas shipments of twine, cordage, rope and cables, when their volume increased by 5.3% to 785K tons. The total export volume increased at an average annual rate of +2.3% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when exports increased by 43% against the previous year. As a result, the exports attained the peak of 881K tons. From 2018 to 2024, the growth of the global exports remained at a lower figure.

In value terms, twine and cordage exports fell to $3.1B in 2024. The total export value increased at an average annual rate of +2.1% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 19% against the previous year. The global exports peaked at $3.4B in 2022; however, from 2023 to 2024, the exports stood at a somewhat lower figure.

Exports By Country

China represented the main exporter of twine, cordage, rope and cables in the world, with the volume of exports recording 277K tons, which was near 35% of total exports in 2024. Portugal (87K tons) held the second position in the ranking, followed by India (64K tons). All these countries together took near 19% share of total exports. The following exporters - Vietnam (33K tons), South Korea (31K tons), Tanzania (20K tons), Bangladesh (19K tons), the United States (19K tons), Turkey (16K tons) and Brazil (14K tons) - together made up 19% of total exports.

From 2013 to 2024, average annual rates of growth with regard to twine and cordage exports from China stood at +4.6%. At the same time, Vietnam (+11.8%), Turkey (+11.3%), Tanzania (+10.2%), Bangladesh (+4.0%), India (+3.5%) and Portugal (+1.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +11.8% from 2013-2024. South Korea experienced a relatively flat trend pattern. By contrast, the United States (-1.7%) and Brazil (-5.3%) illustrated a downward trend over the same period. China (+7.8 p.p.) and Vietnam (+2.6 p.p.) significantly strengthened its position in terms of the global exports, while Brazil saw its share reduced by -2.4% from 2013 to 2024, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($1B) remains the largest twine and cordage supplier worldwide, comprising 33% of global exports. The second position in the ranking was taken by Portugal ($256M), with an 8.4% share of global exports. It was followed by the United States, with a 6% share.

From 2013 to 2024, the average annual growth rate of value in China stood at +5.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Portugal (+1.6% per year) and the United States (+1.2% per year).

Export Prices By Country

The average twine and cordage export price stood at $3,897 per ton in 2024, waning by -5.9% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 28% against the previous year. Over the period under review, the average export prices reached the peak figure at $4,139 per ton in 2023, and then shrank in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was the United States ($9,809 per ton), while Bangladesh ($1,564 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United States (+2.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform