Middle East: Twine Product Market 2022

Twine Product Market Size in the Middle East

In 2021, after six years of growth, there was decline in the Middle Eastern twine product market, when its value decreased by -2.8% to $X. Over the period under review, consumption, however, enjoyed a strong increase. Over the period under review, the market hit record highs at $X in 2020, and then shrank slightly in the following year.

Twine Product Production in the Middle East

In value terms, twine product production reduced modestly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded prominent growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 27%. Over the period under review, production reached the maximum level at $X in 2020, and then fell slightly in the following year.

Twine Product Exports

Exports in the Middle East

In 2021, shipments abroad of articles of twine, cordage, rope or cables was finally on the rise to reach X tons after two years of decline. Over the period under review, exports saw a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, twine product exports skyrocketed to $X in 2021. Total exports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, 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

Turkey represented the major exporter of articles of twine, cordage, rope or cables in the Middle East, with the volume of exports amounting to X tons, which was approx. 49% of total exports in 2021. The United Arab Emirates (X tons) held a 29% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (17%). Oman (X tons) took a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Oman (with a CAGR of +24.0%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) were the countries with the highest levels of exports in 2021, together accounting for 97% of total exports.

In terms of the main exporting countries, Turkey, with a CAGR of +18.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, increasing by 4.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2018 an increase of 14%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+0.0%), while the other leaders experienced a decline in the export price figures.

Twine Product Imports

Imports in the Middle East

Twine product imports skyrocketed to X tons in 2021, with an increase of 31% compared with the previous year. The total import volume increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 38%. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, twine product imports soared to $X in 2021. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 45%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) were the key importers of articles of twine, cordage, rope or cables in 2021, finishing at near 25% and 23% of total imports, respectively. It was distantly followed by Yemen (X tons), Turkey (X tons), Oman (X tons), Qatar (X tons) and Israel (X tons), together creating a 42% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Yemen (with a CAGR of +60.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest twine product importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), together accounting for 59% of total imports. Israel, Qatar, Oman and Yemen lagged somewhat behind, together comprising a further 29%.

Among the main importing countries, Yemen, with a CAGR of +57.6%, recorded the highest growth rate of 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 the Middle East amounted to $X per ton, waning by -9.7% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the import price increased by 8.7% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 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 Turkey ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+6.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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