Asia-Pacific: Twine And Cordage Market 2022

Twine And Cordage Market Size in Asia-Pacific

After two years of growth, the Asia-Pacific twine and cordage market decreased by -12.6% to $X in 2021. The total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2020, and then shrank in the following year.

Twine And Cordage Production in Asia-Pacific

In value terms, twine and cordage production reduced to $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 +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +10.6% against 2016 indices. The growth pace was the most rapid in 2016 when the production volume increased by 17%. Over the period under review, production reached the peak level at $X in 2020, and then declined in the following year.

Twine And Cordage Exports

Exports in Asia-Pacific

Twine and cordage exports soared to X tons in 2021, growing by 17% against 2020. Total exports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +4.9% 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 +56.2% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 19%. The volume of export peaked in 2021 and is likely to see steady growth in the near future.

In value terms, twine and cordage exports skyrocketed to $X in 2021. Total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.6% 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 +50.8% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the key exporter of twine, cordage, rope and cables in Asia-Pacific, with the volume of exports amounting to X tons, which was approx. 53% of total exports in 2021. India (X tons) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (8%), South Korea (6.9%), Thailand (5.3%) and Bangladesh (5.1%). Sri Lanka (X tons) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to twine and cordage exports from China stood at +4.6%. At the same time, Vietnam (+22.6%), Thailand (+9.0%), India (+7.2%), Bangladesh (+5.7%) and Sri Lanka (+2.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +22.6% from 2012-2021. South Korea experienced a relatively flat trend pattern. From 2012 to 2021, the share of Vietnam, India and Thailand increased by +6.1, +2.6 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest twine and cordage supplier in Asia-Pacific, comprising 60% of total exports. The second position in the ranking was held by India ($X), with an 8.7% share of total exports. It was followed by South Korea, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +7.1%. The remaining exporting countries recorded the following average annual rates of exports growth: India (+7.4% per year) and South Korea (+1.0% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, growing by 6.2% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. Over the period under review, the export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+7.8%), while the other leaders experienced more modest paces of growth.

Twine And Cordage Imports

Imports in Asia-Pacific

In 2021, approx. X tons of twine, cordage, rope and cables were imported in Asia-Pacific; growing by 3.6% against the previous year. The total import volume increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of 11%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, twine and cordage imports expanded sharply to $X in 2021. The total import value increased at an average annual rate of +5.2% over the period 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.

Imports by Country

In 2021, Indonesia (X tons) and South Korea (X tons) were the main importers of twine, cordage, rope and cables in Asia-Pacific, together committing 27% of total imports. It was followed by Vietnam (X tons), India (X tons), Japan (X tons), Singapore (X tons), Australia (X tons) and Malaysia (X tons), together comprising a 42% share of total imports. The following importers - Thailand (X tons), the Philippines (X tons), Democratic People's Republic of Korea (X tons), Myanmar (X tons) and China (X tons) - together made up 16% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of +21.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), China ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2021, together accounting for 32% of total imports. Australia, Japan, South Korea, India, Singapore, Thailand, Malaysia, Myanmar, the Philippines and Democratic People's Republic of Korea lagged somewhat behind, together comprising a further 47%.

In terms of the main importing countries, the Philippines, with a CAGR of +19.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, surging by 8.5% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 9.5%. Over the period under review, import prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was China ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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