Global Twine And Cordage Market 2022

Twine And Cordage Market Size

In 2021, the global twine and cordage market decreased by -3.2% to $X for the first time since 2011, thus ending a nine-year rising trend. The market value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Global consumption peaked at $X in 2020, and then reduced slightly in the following year.

Twine And Cordage Production

In value terms, twine and cordage production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2016 when the production volume increased by 6.2%. Global production peaked at $X in 2020, and then shrank in the following year.

Twine And Cordage Exports

Exports

In 2021, overseas shipments of twine, cordage, rope and cables increased by 11% to X tons, rising for the fifth consecutive year after two years of decline. The total export volume 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 throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 13%. The global exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, twine and cordage exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the main exporter of twine, cordage, rope and cables in the world, with the volume of exports amounting to X tons, which was approx. 31% of total exports in 2021. It was distantly followed by Portugal (X tons), India (X tons) and Vietnam (X tons), together generating a 25% share of total exports. South Korea (X tons), Thailand (X tons), Bangladesh (X tons), Turkey (X tons), the United States (X tons), Hungary (X tons), Brazil (X tons) and the Czech Republic (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to twine and cordage exports from China stood at +4.6%. At the same time, Vietnam (+22.6%), Turkey (+19.4%), Hungary (+12.7%), Thailand (+9.0%), India (+7.2%), Bangladesh (+5.7%), Portugal (+2.8%), the Czech Republic (+2.3%) and the United States (+1.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +22.6% from 2012-2021. South Korea experienced a relatively flat trend pattern. By contrast, Brazil (-5.9%) illustrated a downward trend over the same period. While the share of Vietnam (+3.7 p.p.), China (+2.6 p.p.), India (+2.3 p.p.) and Turkey (+1.8 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Brazil (-3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest twine and cordage supplier worldwide, comprising 32% of global exports. The second position in the ranking was taken by Portugal ($X), with a 7.7% share of global exports. It was followed by the United States, with a 5.4% share.

In China, twine and cordage exports increased at an average annual rate of +7.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Portugal (+2.4% per year) and the United States (+2.0% per year).

Export Prices by Country

In 2021, the average twine and cordage export price amounted to $X per ton, growing by 8.8% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The global export price peaked at $X per ton in 2014; afterwards, it flattened through to 2021.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+3.5%), while the other global leaders experienced more modest paces of growth.

Twine And Cordage Imports

Imports

In 2021, approx. X tons of twine, cordage, rope and cables were imported worldwide; increasing by 5% on 2020 figures. The total import volume increased at an average annual rate of +3.1% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 7.1%. Global imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, twine and cordage imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.5% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons), distantly followed by France (X tons), Indonesia (X tons), Germany (X tons), Canada (X tons), South Korea (X tons), the UK (X tons), Vietnam (X tons), India (X tons), the Netherlands (X tons), Japan (X tons), Singapore (X tons) and Russia (X tons) represented the major importers of twine, cordage, rope and cables, together comprising 48% of total imports. The following importers - France (X tons), Indonesia (X tons), Germany (X tons), Canada (X tons), South Korea (X tons), the UK (X tons), Vietnam (X tons), India (X tons), the Netherlands (X tons), Japan (X tons), Singapore (X tons) and Russia (X tons) - together made up 34% of total imports.

Imports into the United States increased at an average annual rate of +1.1% from 2012 to 2021. At the same time, South Korea (+16.5%), Vietnam (+10.2%), Russia (+6.8%), Indonesia (+6.3%), Canada (+3.9%), the Netherlands (+2.5%), France (+2.2%), Singapore (+1.7%), Germany (+1.4%) and the UK (+1.0%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in the world, with a CAGR of +16.5% from 2012-2021. By contrast, India (-1.2%) and Japan (-3.2%) illustrated a downward trend over the same period. While the share of South Korea (+2.4 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Japan (-1.6 p.p.) and the United States (-2.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported twine, cordage, rope and cables worldwide, comprising 14% of global imports. The second position in the ranking was held by Germany ($X), with a 4.7% share of global imports. It was followed by France, with a 4.3% share.

From 2012 to 2021, the average annual growth rate of value in the United States stood at +1.5%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+3.2% per year) and France (+3.7% per year).

Import Prices by Country

In 2021, the average twine and cordage import price amounted to $X per ton, rising by 9.9% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. Global import price peaked at $X per ton in 2014; however, from 2015 to 2021, 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 the Netherlands ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :