Eastern Asia: Tyre Cord Fabric Market 2025

Tyre Cord Fabric Market Size in Eastern Asia

In 2021, the East Asian tyre cord fabric market was finally on the rise to reach $X after two years of decline. The total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -10.8% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Tyre Cord Fabric Production in Eastern Asia

In value terms, tyre cord fabric production rose remarkably to $X in 2021 estimated in export price. The total production indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.3% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 17%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Tyre Cord Fabric Exports

Exports in Eastern Asia

In 2021, the amount of tyre cord fabric of high tenacity yarn exported in Eastern Asia skyrocketed to X tons, picking up by 25% compared with 2020. The total export volume increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tyre cord fabric exports surged to $X in 2021. The total export value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the main exporter of tyre cord fabric of high tenacity yarn in Eastern Asia, with the volume of exports resulting at X tons, which was near 78% of total exports in 2021. South Korea (X tons) ranks second in terms of the total exports with a 15% share, followed by Taiwan (Chinese) (5.6%).

China was also the fastest-growing in terms of the tyre cord fabric of high tenacity yarn exports, with a CAGR of +7.3% from 2012 to 2021. South Korea (-4.9%) and Taiwan (Chinese) (-8.5%) illustrated a downward trend over the same period. While the share of China (+27 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-10 p.p.) and South Korea (-14.6 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest tyre cord fabric supplier in Eastern Asia, comprising 75% of total exports. The second position in the ranking was held by South Korea ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +6.5%. In the other countries, the average annual rates were as follows: South Korea (-5.9% per year) and Taiwan (Chinese) (-7.6% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, rising by 33% against the previous year. Over the period under review, the export price, however, recorded a mild setback. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, 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) (+0.9%), while the other leaders experienced a decline in the export price figures.

Tyre Cord Fabric Imports

Imports in Eastern Asia

In 2021, the amount of tyre cord fabric of high tenacity yarn imported in Eastern Asia surged to X tons, jumping by 18% against the previous year. The total import volume increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, tyre cord fabric imports soared to $X in 2021. Overall, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons) and South Korea (X tons) represented roughly 79% of total imports in 2021. It was distantly followed by China (X tons) and Taiwan (Chinese) (X tons), together committing a 21% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Japan (with a CAGR of +7.7%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, South Korea ($X), Japan ($X) and China ($X) were the countries with the highest levels of imports in 2021, with a combined 91% share of total imports.

Japan, with a CAGR of +4.4%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, increasing by 12% against the previous year. In general, the import price, however, continues to indicate a mild decline. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while Japan ($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 (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :