Eastern Asia: Sisal Binder Market 2024

Sisal Binder Market Size in Eastern Asia

The East Asian sisal binder market rose notably to $X in 2022, surging by 6% against the previous year. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.6% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Sisal Binder Production in Eastern Asia

In value terms, sisal binder production expanded significantly to $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 -4.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 24%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Sisal Binder Exports

Exports in Eastern Asia

In 2022, approx. X tons of sisal binder or baler (agricultural) twines were exported in Eastern Asia; waning by -2.2% compared with the previous year's figure. Overall, exports saw a deep contraction. The growth pace was the most rapid in 2016 with an increase of 165%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, sisal binder exports reached $X in 2022. In general, exports recorded a perceptible reduction. The most prominent rate of growth was recorded in 2016 when exports increased by 85%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, China (X tons) was the major exporter of sisal binder or baler (agricultural) twines, committing 88% of total exports. It was distantly followed by Democratic People's Republic of Korea (X tons), mixing up an 11% share of total exports.

Exports from China decreased at an average annual rate of -5.9% from 2012 to 2022. At the same time, Democratic People's Republic of Korea (+42.2%) displayed positive paces of growth. Moreover, Democratic People's Republic of Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +42.2% from 2012-2022. From 2012 to 2022, the share of Democratic People's Republic of Korea increased by +11 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest sisal binder supplier in Eastern Asia, comprising 95% of total exports. The second position in the ranking was taken by Democratic People's Republic of Korea ($X), with a 3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at -3.6%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, increasing by 9.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2014 an increase of 39% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Democratic People's Republic of Korea stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.5%).

Sisal Binder Imports

Imports in Eastern Asia

In 2022, purchases abroad of sisal binder or baler (agricultural) twines increased by 23% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, recorded a abrupt decline. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, sisal binder imports skyrocketed to $X in 2022. Overall, imports, however, recorded a perceptible shrinkage. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X tons) was the main importer of sisal binder or baler (agricultural) twines, making up 75% of total imports. South Korea (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (7.5%) and Hong Kong SAR (5%).

From 2012 to 2022, average annual rates of growth with regard to sisal binder imports into Japan stood at -5.4%. At the same time, South Korea (+19.6%) and Taiwan (Chinese) (+13.1%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +19.6% from 2012-2022. By contrast, Hong Kong SAR (-20.9%) illustrated a downward trend over the same period. South Korea (+11 p.p.), Taiwan (Chinese) (+6.3 p.p.) and Japan (+5.3 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by -22.6% from 2012 to 2022, respectively.

In value terms, Japan ($X) constitutes the largest market for imported sisal binder or baler (agricultural) twines in Eastern Asia, comprising 69% of total imports. The second position in the ranking was taken by South Korea ($X), with a 24% share of total imports. It was followed by Taiwan (Chinese), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value in Japan stood at -3.1%. In the other countries, the average annual rates were as follows: South Korea (+8.2% per year) and Taiwan (Chinese) (+16.1% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, increasing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The pace of growth appeared the most rapid in 2014 an increase of 15% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2016; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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