Asia: Twine And Cordage Market 2022

Twine And Cordage Market Size in Asia

In 2021, the Asian twine and cordage market decreased by -11.9% to $X for the first time since 2011, thus ending a nine-year rising trend. The total consumption indicated prominent growth 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, consumption increased by +87.2% against 2012 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then shrank in the following year.

Twine And Cordage Production in Asia

In value terms, twine and cordage production shrank to $X in 2021 estimated in export price. The total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.8% 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 increased by +10.8% against 2016 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2020, and then declined in the following year.

Twine And Cordage Exports

Exports in Asia

In 2021, the amount of twine, cordage, rope and cables exported in Asia soared to X tons, rising by 17% compared with 2020 figures. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +5.5% 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 +59.3% against 2016 indices. The pace of growth was the most pronounced in 2017 with an increase of 20%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, twine and cordage exports skyrocketed to $X in 2021. Total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.0% 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 +49.0% against 2014 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 major exporter of twine, cordage, rope and cables in Asia, with the volume of exports reaching X tons, which was approx. 49% of total exports in 2021. India (X tons) ranks second in terms of the total exports with a 14% share, followed by Vietnam (7.5%), South Korea (6.5%), Thailand (4.9%) and Bangladesh (4.8%). Turkey (X tons) held 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%), Turkey (+19.4%), Thailand (+9.0%), India (+7.2%) and Bangladesh (+5.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +22.6% from 2012-2021. South Korea experienced a relatively flat trend pattern. Vietnam (+5.6 p.p.), Turkey (+2.6 p.p.) and India (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while South Korea and China saw its share reduced by -3.8% and -3.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest twine and cordage supplier in Asia, comprising 57% of total exports. The second position in the ranking was held by India ($X), with an 8.3% share of total exports. It was followed by South Korea, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +7.1%. In the other countries, the average annual rates were as follows: India (+7.4% per year) and South Korea (+1.0% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, growing by 5.9% against the previous year. Over the period under review, the export price saw 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 China (+2.3%), while the other leaders experienced more modest paces of growth.

Twine And Cordage Imports

Imports in Asia

In 2021, the amount of twine, cordage, rope and cables imported in Asia expanded markedly to X tons, increasing by 6.9% against 2020. The total import volume increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 when imports increased by 11%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, twine and cordage imports rose rapidly to $X in 2021. The total import value increased at an average annual rate of +5.3% 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

Indonesia (X tons) and South Korea (X tons) represented the main importers of twine, cordage, rope and cables in 2021, reaching near 12% and 11% of total imports, respectively. Vietnam (X tons) held the next position in the ranking, followed by India (X tons), Japan (X tons), Singapore (X tons) and the United Arab Emirates (X tons). All these countries together took approx. 31% share of total imports. Turkey (X tons), Malaysia (X tons), Thailand (X tons), the Philippines (X tons), Kazakhstan (X tons) and Democratic People's Republic of Korea (X tons) followed a long way behind the leaders.

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 ($X), Vietnam ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 26% of total imports. South Korea, India, Singapore, Thailand, Turkey, the United Arab Emirates, Malaysia, the Philippines, Kazakhstan and Democratic People's Republic of Korea lagged somewhat behind, together accounting for a further 35%.

The Philippines, with a CAGR of +19.4%, recorded the highest rates of growth with regard to 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, rising by 7.2% against the previous year. Overall, the import price showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; afterwards, it flattened through to 2021.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per ton), while Democratic People's Republic of Korea ($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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