Southern Asia: Twine And Cordage Market 2022

Twine And Cordage Market Size in Southern Asia

The South Asian twine and cordage market shrank to $X in 2021, with a decrease of -7.9% against the previous year. The market value increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Twine And Cordage Production in Southern Asia

In value terms, twine and cordage production expanded slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 18%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Twine And Cordage Exports

Exports in Southern Asia

Twine and cordage exports soared to X tons in 2021, increasing by 21% on the previous year. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +92.0% against 2013 indices. The pace of growth was the most pronounced in 2016 when exports increased by 22% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, twine and cordage exports skyrocketed to $X in 2021. Total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.6% 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

India represented the key exporting country with an export of around X tons, which amounted to 68% of total exports. Bangladesh (X tons) ranks second in terms of the total exports with a 24% share, followed by Sri Lanka (7.7%).

India was also the fastest-growing in terms of the twine, cordage, rope and cables exports, with a CAGR of +7.2% from 2012 to 2021. At the same time, Bangladesh (+5.7%) and Sri Lanka (+2.0%) displayed positive paces of growth. India (+7.1 p.p.) significantly strengthened its position in terms of the total exports, while Sri Lanka saw its share reduced by -3.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest twine and cordage supplier in Southern Asia, comprising 73% of total exports. The second position in the ranking was taken by Bangladesh ($X), with a 16% share of total exports.

In India, twine and cordage exports expanded at an average annual rate of +7.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Bangladesh (+5.2% per year) and Sri Lanka (+10.0% per year).

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, surging by 11% against the previous year. Overall, the export price showed a relatively flat trend pattern. Over the period under review, the export prices attained the maximum at $X per ton in 2018; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Sri Lanka ($X per ton), while Bangladesh ($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 (+7.8%), while the other leaders experienced mixed trends in the export price figures.

Twine And Cordage Imports

Imports in Southern Asia

In 2021, supplies from abroad of twine, cordage, rope and cables decreased by -1.5% to X tons, falling for the second year in a row after two years of growth. Total imports indicated a tangible expansion from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -23.5% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 52%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, twine and cordage imports surged to $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +104.5% against 2013 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India was the key importing country with an import of around X tons, which amounted to 61% of total imports. It was distantly followed by Bangladesh (X tons), Nepal (X tons), Sri Lanka (X tons) and Pakistan (X tons), together generating a 38% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to twine and cordage imports into India stood at -1.2%. At the same time, Nepal (+39.2%), Bangladesh (+12.8%), Pakistan (+7.9%) and Sri Lanka (+3.2%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +39.2% from 2012-2021. While the share of Nepal (+11 p.p.), Bangladesh (+7.7 p.p.) and Pakistan (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of India (-21.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported twine, cordage, rope and cables in Southern Asia, comprising 52% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 22% share of total imports. It was followed by Sri Lanka, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India totaled +4.8%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+10.0% per year) and Sri Lanka (+9.8% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, rising by 28% against the previous year. Import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, twine and cordage import price increased by +42.8% against 2019 indices. The pace of growth was the most pronounced in 2017 when the import price increased by 33% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Sri Lanka ($X per ton), while Nepal ($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 (+6.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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