Malaysia: Twine And Cordage Market 2024

Twine And Cordage Market Size in Malaysia

The Malaysian twine and cordage market expanded sharply to $X in 2022, with an increase of 8% against the previous year. In general, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 -9.8% against 2020 indices. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Twine And Cordage Production in Malaysia

In value terms, twine and cordage production surged to $X in 2022 estimated in export price. In general, production enjoyed a measured expansion. The growth pace was the most rapid in 2015 with an increase of 831% against the previous year. 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.

Twine And Cordage Exports

Exports from Malaysia

In 2022, the amount of twine, cordage, rope and cables exported from Malaysia shrank to X tons, which is down by -6.1% on 2021 figures. Overall, exports recorded a mild reduction. The most prominent rate of growth was recorded in 2016 when exports increased by 76%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, twine and cordage exports declined to $X in 2022. In general, exports continue to indicate a slight descent. The pace of growth was the most pronounced in 2016 when exports increased by 33%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for twine and cordage exports from Malaysia, accounting for a 45% share of total exports. Moreover, twine and cordage exports to Indonesia exceeded the volume sent to the second major destination, Vietnam (X tons), fivefold. Singapore (X tons) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia amounted to -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+13.4% per year) and Singapore (-1.5% per year).

In value terms, Indonesia ($X) remains the key foreign market for twine, cordage, rope and cables exports from Malaysia, comprising 34% of total exports. The second position in the ranking was held by Singapore ($X), with a 13% share of total exports. It was followed by Vietnam, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia amounted to -4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-0.5% per year) and Vietnam (+4.2% per year).

Export Prices by Country

In 2022, the average twine and cordage export price amounted to $X per ton, reducing by -5.4% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 13%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Twine And Cordage Imports

Imports into Malaysia

Twine and cordage imports into Malaysia reduced to X tons in 2022, falling by -10.6% against 2021 figures. In general, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +7.2% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 134% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, twine and cordage imports dropped to $X in 2022. Over the period under review, imports, however, saw a perceptible expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 161%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of twine and cordage to Malaysia, accounting for a 70% share of total imports. Moreover, twine and cordage imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), sevenfold. India (X tons) ranked third in terms of total imports with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-5.4% per year) and India (+17.6% per year).

In value terms, China ($X) constituted the largest supplier of twine, cordage, rope and cables to Malaysia, comprising 73% of total imports. The second position in the ranking was held by South Korea ($X), with a 5.8% share of total imports. It was followed by Thailand, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-8.0% per year) and Thailand (-3.3% per year).

Import Prices by Country

In 2022, the average twine and cordage import price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the import price continues to indicate a mild setback. The most prominent rate of growth was recorded in 2019 an increase of 13% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+8.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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