Japan: Sisal Binder Market 2024

Sisal Binder Market Size in Japan

The Japanese sisal binder market rose rapidly to $X in 2022, increasing by 7.1% against the previous year. Overall, consumption showed a resilient expansion. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Sisal Binder Production in Japan

In value terms, sisal binder production expanded remarkably to $X in 2022 estimated in export price. Overall, production showed a resilient increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 50%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Sisal Binder Exports

Exports from Japan

In 2019, after two years of growth, there was significant decline in overseas shipments of sisal binder or baler (agricultural) twines, when their volume decreased by -83.7% to X kg. Over the period under review, exports saw a perceptible contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 685% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2019, the exports failed to regain momentum.

In value terms, sisal binder exports contracted significantly to $X in 2019. In general, exports, however, recorded significant growth. The growth pace was the most rapid in 2018 when exports increased by 707%. As a result, the exports attained the peak of $X, and then fell rapidly in the following year.

Exports by Country

The United States (X kg) was the main destination for sisal binder exports from Japan, with a 81% share of total exports. Moreover, sisal binder exports to the United States exceeded the volume sent to the second major destination, Myanmar (X kg), fourfold.

From 2013 to 2019, the average annual growth rate of volume to the United States amounted to +71.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+72.1% per year) and Malaysia (-99.1% per year).

In value terms, Myanmar ($X) emerged as the key foreign market for sisal binder or baler (agricultural) twines exports from Japan, comprising 68% of total exports. The second position in the ranking was held by the United States ($X), with a 26% share of total exports.

From 2013 to 2019, the average annual growth rate of value to Myanmar stood at +386.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+64.2% per year) and Malaysia (-84.5% per year).

Export Prices by Country

In 2019, the average sisal binder export price amounted to $X per ton, growing by 280% against the previous year. Over the period under review, the export price continues to indicate significant growth. The most prominent rate of growth was recorded in 2015 when the average export price increased by 610%. The export price peaked in 2019 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2019, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+1,712.6%), while the prices for the other major destinations experienced mixed trend patterns.

Sisal Binder Imports

Imports into Japan

In 2022, supplies from abroad of sisal binder or baler (agricultural) twines was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a abrupt curtailment. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, sisal binder imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a perceptible slump. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Tanzania (X tons) constituted the largest sisal binder supplier to Japan, with a 68% share of total imports. Moreover, sisal binder imports from Tanzania exceeded the figures recorded by the second-largest supplier, Bangladesh (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from Tanzania totaled -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (-3.3% per year) and China (-19.6% per year).

In value terms, the largest sisal binder suppliers to Japan were Tanzania ($X), Bangladesh ($X) and China ($X).

In terms of the main suppliers, Bangladesh, with a CAGR of -0.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average sisal binder import price amounted to $X per ton, with an increase of 1.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2015 when the average import price increased by 13%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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