Asia: Twine Product Market 2022

Twine Product Market Size in Asia

In 2021, the Asian twine product market decreased by -3% to $X, falling for the second year in a row after eight years of growth. The total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -6.7% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Twine Product Production in Asia

In value terms, twine product production totaled $X in 2021 estimated in export price. The total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.4% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 16% against the previous year. Over the period under review, production hit record highs at $X in 2019; afterwards, it flattened through to 2021.

Twine Product Exports

Exports in Asia

In 2021, the amount of articles of twine, cordage, rope or cables exported in Asia surged to X tons, growing by 27% on 2020. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +9.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +129.7% against 2012 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, twine product exports soared to $X in 2021. Total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +9.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +129.8% against 2012 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, amounting to X tons, which was near 81% of total exports in 2021. The following exporters - India (X tons), Vietnam (X tons), Taiwan (Chinese) (X tons), Bangladesh (X tons) and Turkey (X tons) - together made up 14% of total exports.

From 2012 to 2021, average annual rates of growth with regard to twine product exports from China stood at +11.3%. At the same time, Bangladesh (+48.7%), Turkey (+23.1%), Vietnam (+17.7%) and India (+13.1%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Asia, with a CAGR of +48.7% from 2012-2021. Taiwan (Chinese) experienced a relatively flat trend pattern. From 2012 to 2021, the share of China and Bangladesh increased by +9.7 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest twine product supplier in Asia, comprising 76% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 5.4% share of total exports. It was followed by Vietnam, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +12.1%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+2.3% per year) and Vietnam (+12.4% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, rising by 3.3% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 4.8% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Taiwan (Chinese) ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.4%), while the other leaders experienced more modest paces of growth.

Twine Product Imports

Imports in Asia

In 2021, the amount of articles of twine, cordage, rope or cables imported in Asia skyrocketed to X tons, jumping by 31% on 2020. The total import volume increased at an average annual rate of +4.3% 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, twine product imports soared to $X in 2021. The total import value increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 29%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

The countries with the highest levels of twine product imports in 2021 were South Korea (X tons), Japan (X tons), Vietnam (X tons), Indonesia (X tons), the Philippines (X tons), the United Arab Emirates (X tons) and Saudi Arabia (X tons), together finishing at 61% of total import. The following importers - Yemen (X tons), Azerbaijan (X tons), India (X tons), Hong Kong SAR (X tons), Thailand (X tons) and Turkey (X tons) - together made up 18% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Yemen (with a CAGR of +60.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Vietnam ($X) and South Korea ($X) were the countries with the highest levels of imports in 2021, together accounting for 40% of total imports. These countries were followed by Indonesia, the Philippines, Hong Kong SAR, Turkey, the United Arab Emirates, Saudi Arabia, Thailand, India, Azerbaijan and Yemen, which together accounted for a further 33%.

Yemen, with a CAGR of +57.6%, saw the highest growth rate of the value of imports, in terms of 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 Asia stood at $X per ton in 2021, reducing by -9.5% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 6.8% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2020, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+8.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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