Southern Asia: Twine Product Market 2022

Twine Product Market Size in Southern Asia

The South Asian twine product market stood at $X in 2021, remaining relatively unchanged against the previous year. Overall, consumption enjoyed resilient growth. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Twine Product Production in Southern Asia

In value terms, twine product production expanded modestly to $X in 2021 estimated in export price. In general, production posted a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 41% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Twine Product Exports

Exports in Southern Asia

Twine product exports skyrocketed to X tons in 2021, picking up by 48% on the previous year's figure. In general, exports saw a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, twine product exports surged to $X in 2021. Over the period under review, exports recorded a strong expansion. The pace of growth was the most pronounced in 2016 when exports increased by 47% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

India was the main exporting country with an export of around X tons, which accounted for 59% of total exports. It was distantly followed by Bangladesh (X tons), constituting a 39% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Bangladesh (with a CAGR of +48.7%).

In value terms, India ($X) remains the largest twine product supplier in Southern Asia, comprising 67% of total exports. The second position in the ranking was taken by Bangladesh ($X), with a 29% share of total exports.

In India, twine product exports increased at an average annual rate of +14.5% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, reducing by -12.7% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 5.6%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was India ($X per ton), while Bangladesh stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.3%).

Twine Product Imports

Imports in Southern Asia

In 2021, approx. X tons of articles of twine, cordage, rope or cables were imported in Southern Asia; with an increase of 59% against the previous year's figure. Overall, imports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 101% against the previous year. The volume of import peaked in 2021 and is likely to see steady growth in years to come.

In value terms, twine product imports skyrocketed to $X in 2021. Over the period under review, imports enjoyed resilient growth. The pace of growth appeared the most rapid in 2017 when imports increased by 103%. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

India was the key importing country with an import of about X tons, which recorded 46% of total imports. It was distantly followed by Bangladesh (X tons), Pakistan (X tons), Sri Lanka (X tons) and Nepal (X tons), together making up a 53% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to twine product imports into India stood at +7.7%. At the same time, Bangladesh (+22.3%), Nepal (+20.3%), Sri Lanka (+18.6%) and Pakistan (+16.9%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +22.3% from 2012-2021. Bangladesh (+12 p.p.), Pakistan (+4 p.p.), Sri Lanka (+3.7 p.p.) and Nepal (+3.6 p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by -20.8% from 2012 to 2021, respectively.

In value terms, Bangladesh ($X), India ($X) and Sri Lanka ($X) were the countries with the highest levels of imports in 2021, together accounting for 83% of total imports.

Sri Lanka, with a CAGR of +28.9%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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 Southern Asia amounted to $X per ton, falling by -15.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2019 when the import price increased by 14%. The level of import peaked at $X per ton in 2020, and then reduced notably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Sri Lanka ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+8.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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