Eastern Asia: Twine Product Market 2022

Twine Product Market Size in Eastern Asia

In 2021, the East Asian twine product market decreased by -7.9% to $X, falling for the second year in a row after five years of growth. The total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.2% 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 decreased by -18.0% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Twine Product Production in Eastern Asia

In value terms, twine product production expanded to $X in 2021 estimated in export price. The total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.5% against 2019 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 23%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Twine Product Exports

Exports in Eastern Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of articles of twine, cordage, rope or cables, when their volume increased by 30% to X tons. In general, exports saw a prominent expansion. 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. Over the period under review, exports enjoyed prominent growth. As a result, the exports reached 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 approx. 95% of total exports in 2021. Taiwan (Chinese) (X tons) held a relatively small share of total exports.

China was also the fastest-growing in terms of the articles of twine, cordage, rope or cables exports, with a CAGR of +11.3% from 2012 to 2021. Taiwan (Chinese) experienced a relatively flat trend pattern. China (+7.9 p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) saw its share reduced by -4.5% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest twine product supplier in Eastern Asia, comprising 90% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 6.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +12.1%.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, picking up by 6.3% against the previous year. Overall, the export price showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Taiwan (Chinese) ($X per ton), while China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.4%).

Twine Product Imports

Imports in Eastern Asia

For the third consecutive year, Eastern Asia recorded growth in purchases abroad of articles of twine, cordage, rope or cables, which increased by 5.4% to X tons in 2021. Total imports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +117.0% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 62% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, twine product imports stood at $X in 2021. Total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% 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 +115.5% against 2016 indices. The pace of growth was the most pronounced in 2017 when imports increased by 47%. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in years to come.

Imports by Country

South Korea (X tons) and Japan (X tons) dominates imports structure, together comprising 79% of total imports. It was distantly followed by Hong Kong SAR (X tons) and China (X tons), together achieving a 17% share of total imports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in South Korea (with a CAGR of +17.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest twine product importing markets in Eastern Asia were Japan ($X), South Korea ($X) and China ($X), together accounting for 85% of total imports. These countries were followed by Hong Kong SAR and Taiwan (Chinese), which together accounted for a further 15%.

In terms of the main importing countries, Taiwan (Chinese), with a CAGR of +19.8%, 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

The import price in Eastern Asia stood at $X per ton in 2021, rising by 8.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2019 an increase of 21%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+10.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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