South Africa: Twine And Cordage Market 2024

Twine And Cordage Market Size in South Africa

The South African twine and cordage market contracted notably to $X in 2022, declining by -15.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, posted resilient growth. Twine and cordage consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Twine And Cordage Exports

Exports from South Africa

In 2022, shipments abroad of twine, cordage, rope and cables decreased by -4.3% to X tons, falling for the second consecutive year after two years of growth. In general, exports recorded a slight curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by 13%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, twine and cordage exports contracted to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 16%. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Namibia (X tons), the UK (X tons) and Botswana (X tons) were the main destinations of twine and cordage exports from South Africa, with a combined 45% share of total exports. Mozambique, Swaziland, Australia, Lesotho, Democratic Republic of the Congo, Madagascar, Zambia, Germany, Zimbabwe and Tanzania lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Madagascar (with a CAGR of +39.8%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Namibia ($X) and Australia ($X) appeared to be the largest markets for twine and cordage exported from South Africa worldwide, with a combined 52% share of total exports. Botswana, Mozambique, Zambia, Swaziland, Madagascar, Democratic Republic of the Congo, Lesotho, Zimbabwe, Germany and Tanzania lagged somewhat behind, together comprising a further 30%.

Madagascar, with a CAGR of +38.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average twine and cordage export price amounted to $X per ton, dropping by -7.5% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 15% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Germany ($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 (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Twine And Cordage Imports

Imports into South Africa

In 2022, the amount of twine, cordage, rope and cables imported into South Africa fell to X tons, with a decrease of -14.1% against 2021 figures. In general, total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -25.5% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of 29%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, twine and cordage imports declined to $X in 2022. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 18% against the previous year. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of twine and cordage to South Africa, accounting for a 43% share of total imports. Moreover, twine and cordage imports from China exceeded the figures recorded by the second-largest supplier, Pakistan (X tons), threefold. Hungary (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+51.8% per year) and Hungary (+47.4% per year).

In value terms, China ($X) constituted the largest supplier of twine, cordage, rope and cables to South Africa, comprising 31% of total imports. The second position in the ranking was held by Hungary ($X), with a 13% share of total imports. It was followed by Germany, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+40.7% per year) and Germany (+3.9% per year).

Import Prices by Country

The average twine and cordage import price stood at $X per ton in 2022, increasing by 7.1% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2019 an increase of 17% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 Austria ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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