China: Twine And Cordage Market 2025

Twine And Cordage Market Size in China

The Chinese twine and cordage market expanded remarkably to $X in 2022, increasing by 6.7% against the previous year. In general, consumption saw a buoyant expansion. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Twine And Cordage Production in China

In value terms, twine and cordage production stood at $X in 2022 estimated in export price. Overall, the total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +8.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.8% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 27% against the previous year. Twine and cordage production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Twine And Cordage Exports

Exports from China

After two years of growth, overseas shipments of twine, cordage, rope and cables decreased by -3% to X tons in 2022. Over the period under review, total exports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +8.5% against 2018 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 45% against the previous year. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, twine and cordage exports shrank slightly to $X in 2022. In general, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.0% against 2016 indices. The pace of growth appeared the most rapid in 2021 with an increase of 25%. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

The United States (X tons) was the main destination for twine and cordage exports from China, with a 14% share of total exports. Moreover, twine and cordage exports to the United States exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. Japan (X tons) ranked third in terms of total exports with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+8.9% per year) and Japan (-2.5% per year).

In value terms, the United States ($X) remains the key foreign market for twine, cordage, rope and cables exports from China, comprising 15% of total exports. The second position in the ranking was held by Vietnam ($X), with a 5.1% share of total exports. It was followed by Japan, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+23.3% per year) and Japan (-1.4% per year).

Export Prices by Country

The average twine and cordage export price stood at $X per ton in 2022, surging by 2.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2016 an increase of 21% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Twine And Cordage Imports

Imports into China

In 2022, supplies from abroad of twine, cordage, rope and cables decreased by -9.4% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports showed a noticeable setback. The most prominent rate of growth was recorded in 2016 with an increase of 30%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, twine and cordage imports reached $X in 2022. The total import value increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 26%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

South Korea (X tons), Japan (X tons) and Bangladesh (X tons) were the main suppliers of twine and cordage imports to China, together comprising 34% of total imports. Thailand, India, the United Arab Emirates, the United States, Vietnam, Germany, the Netherlands, Brazil, Portugal and France lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +70.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of twine, cordage, rope and cables to China, comprising 30% of total imports. The second position in the ranking was held by the United States ($X), with a 12% share of total imports. It was followed by South Korea, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Japan amounted to +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.2% per year) and South Korea (+3.0% per year).

Import Prices by Country

In 2022, the average twine and cordage import price amounted to $X per ton, growing by 11% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, twine and cordage import price increased by +58.6% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 34%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+20.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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