Eastern Asia: Twine And Cordage Market 2022

Twine And Cordage Market Size in Eastern Asia

In 2021, the East Asian twine and cordage market decreased by -14.4% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption, however, continues to indicate a buoyant increase. Over the period under review, the market hit record highs at $X in 2020, and then declined in the following year.

Twine And Cordage Production in Eastern Asia

In value terms, twine and cordage production reduced to $X in 2021 estimated in export price. The total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.4% 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 +7.4% against 2016 indices. The growth pace was the most rapid in 2016 when the production volume increased by 24%. The level of production peaked at $X in 2020, and then shrank in the following year.

Twine And Cordage Exports

Exports in Eastern Asia

In 2021, the amount of twine, cordage, rope and cables exported in Eastern Asia surged to X tons, picking up by 17% on the year before. The total export volume increased at an average annual rate of +3.7% over the period 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 2017 when exports increased by 35% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, twine and cordage exports soared to $X in 2021. Total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.4% 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 +52.5% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the major exporting country with an export of around X tons, which reached 85% of total exports. It was distantly followed by South Korea (X tons), comprising an 11% share of total exports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the twine, cordage, rope and cables exports, with a CAGR of +4.6% from 2012 to 2021. South Korea experienced a relatively flat trend pattern. Taiwan (Chinese) (-4.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +6.5 percentage points.

In value terms, China ($X) remains the largest twine and cordage supplier in Eastern Asia, comprising 78% of total exports. The second position in the ranking was held by South Korea ($X), with a 10% share of total exports.

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: South Korea (+1.0% per year) and Taiwan (Chinese) (-2.1% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, with an increase of 8% against the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2016 an increase of 14%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($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) (+2.5%), while the other leaders experienced more modest paces of growth.

Twine And Cordage Imports

Imports in Eastern Asia

Twine and cordage imports stood at X tons in 2021, picking up by 10% on the year before. The total import volume increased at an average annual rate of +3.9% 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 20% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, twine and cordage imports surged to $X in 2021. The total import value increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea represented the major importer of twine, cordage, rope and cables in Eastern Asia, with the volume of imports finishing at X tons, which was near 43% of total imports in 2021. Japan (X tons) held a 25% share (based on physical terms) of total imports, which put it in second place, followed by Democratic People's Republic of Korea (10%), China (9.2%), Hong Kong SAR (7.6%) and Taiwan (Chinese) (5.2%).

From 2012 to 2021, the biggest increases were in South Korea (with a CAGR of +16.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest twine and cordage importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined 77% share of total imports.

In terms of the main importing countries, South Korea, with a CAGR of +12.4%, recorded the highest rates of growth with regard to 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 Eastern Asia amounted to $X per ton, rising by 7.5% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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 China (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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