Asia-Pacific: Twine Product Market 2022

Twine Product Market Size in Asia-Pacific

In 2021, the Asia-Pacific twine product market decreased by -3.8% to $X, falling for the second year in a row after five years of growth. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.0% 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 -9.3% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Twine Product Production in Asia-Pacific

In value terms, twine product production reached $X in 2021 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.4% 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 -2.9% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 16% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; afterwards, it flattened through to 2021.

Twine Product Exports

Exports in Asia-Pacific

For the fifth consecutive year, Asia-Pacific recorded growth in shipments abroad of articles of twine, cordage, rope or cables, which increased by 27% to X tons in 2021. Overall, exports saw a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, twine product exports skyrocketed to $X in 2021. In general, exports recorded a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, amounting to X tons, which was approx. 84% of total exports in 2021. The following exporters - India (X tons), Vietnam (X tons), Taiwan (Chinese) (X tons) and Bangladesh (X tons) - together made up 12% of total exports.

Exports from China increased at an average annual rate of +11.3% from 2012 to 2021. At the same time, Bangladesh (+48.7%), Vietnam (+17.7%) and India (+13.1%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Asia-Pacific, 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 +6.3 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest twine product supplier in Asia-Pacific, comprising 78% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 5.6% share of total exports. It was followed by Vietnam, with a 4.1% share.

In China, twine product exports increased at an average annual rate of +12.1% over the period from 2012-2021. 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

The export price in Asia-Pacific stood at $X per ton in 2021, surging by 3.2% 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 2019 an increase of 4.6% 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-Pacific

In 2021, the amount of articles of twine, cordage, rope or cables imported in Asia-Pacific surged to X tons, with an increase of 19% against 2020 figures. Total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +86.2% against 2016 indices. The pace of growth was the most pronounced in 2017 with an increase of 42% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in years to come.

In value terms, twine product imports skyrocketed to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +92.8% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 38% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Imports by Country

Australia (X tons), South Korea (X tons), Japan (X tons), Vietnam (X tons), Indonesia (X tons) and the Philippines (X tons) represented roughly 72% of total imports in 2021. The following importers - India (X tons), Hong Kong SAR (X tons), Thailand (X tons), New Zealand (X tons), China (X tons), Cambodia (X tons) and Bangladesh (X tons) - together made up 20% 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 the Philippines (with a CAGR of +26.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Vietnam ($X) and Australia ($X) were the countries with the highest levels of imports in 2021, with a combined 44% share of total imports. South Korea, Indonesia, China, the Philippines, Hong Kong SAR, Bangladesh, New Zealand, Cambodia, Thailand and India lagged somewhat behind, together accounting for a further 48%.

The Philippines, with a CAGR of +25.4%, 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 Asia-Pacific stood at $X per ton in 2021, approximately reflecting the previous year. Over the last nine years, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2019 when the import price increased by 6.5%. Over the period under review, import prices reached the maximum at $X per ton in 2020, and then declined 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 China ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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