ASEAN: Tyre Cord Fabric Market 2025

Tyre Cord Fabric Market Size in ASEAN

The ASEAN tyre cord fabric market totaled $X in 2021, increasing by 12% against the previous year. The total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +88.4% against 2012 indices. The level of consumption peaked in 2021 and is likely to see steady growth in years to come.

Tyre Cord Fabric Production in ASEAN

In value terms, tyre cord fabric production expanded markedly to $X in 2021 estimated in export price. The total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.7% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Tyre Cord Fabric Exports

Exports in ASEAN

Tyre cord fabric exports surged to X tons in 2021, picking up by 76% on the previous year's figure. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +8.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tyre cord fabric exports skyrocketed to $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam prevails in exports structure, reaching X tons, which was approx. 86% of total exports in 2021. Indonesia (X tons) held a 9.1% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (4.9%).

Vietnam was also the fastest-growing in terms of the tyre cord fabric of high tenacity yarn exports, with a CAGR of +10.6% from 2012 to 2021. At the same time, Indonesia (+3.6%) displayed positive paces of growth. By contrast, Thailand (-1.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam increased by +12 percentage points.

In value terms, Vietnam ($X) remains the largest tyre cord fabric supplier in ASEAN, comprising 84% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 9.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Vietnam amounted to +9.3%. In the other countries, the average annual rates were as follows: Indonesia (+1.1% per year) and Thailand (-0.4% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, approximately mirroring the previous year. In general, the export price, however, showed a slight decline. The pace of growth was the most pronounced in 2018 when the export price increased by 10% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+0.7%), while the other leaders experienced a decline in the export price figures.

Tyre Cord Fabric Imports

Imports in ASEAN

In 2021, overseas purchases of tyre cord fabric of high tenacity yarn increased by 24% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, tyre cord fabric imports surged to $X in 2021. Total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% 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

Thailand was the largest importing country with an import of around X tons, which reached 55% of total imports. Indonesia (X tons) took the second position in the ranking, distantly followed by Vietnam (X tons), the Philippines (X tons) and Malaysia (X tons). All these countries together held approx. 45% share of total imports.

Imports into Thailand increased at an average annual rate of +5.5% from 2012 to 2021. At the same time, the Philippines (+19.6%), Indonesia (+3.6%) and Malaysia (+2.7%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +19.6% from 2012-2021. Vietnam experienced a relatively flat trend pattern. From 2012 to 2021, the share of the Philippines and Thailand increased by +3.8 and +3.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest tyre cord fabric importing markets in ASEAN were Thailand ($X), Indonesia ($X) and Vietnam ($X), together comprising 91% of total imports. Malaysia and the Philippines lagged somewhat behind, together accounting for a further 8.4%.

The Philippines, with a CAGR of +18.3%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, picking up by 33% against the previous year. Over the period under review, the import price, however, recorded a mild descent. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform