Thailand: Twine Product Market 2024

Twine Product Market Size in Thailand

The Thai twine product market declined to $X in 2022, reducing by -3.1% against the previous year. Overall, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 -4.8% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Twine Product Production in Thailand

In value terms, twine product production reduced to $X in 2022 estimated in export price. Over the period under review, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -14.5% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 46%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Twine Product Exports

Exports from Thailand

In 2022, exports of articles of twine, cordage, rope or cables from Thailand contracted to X tons, dropping by -10.1% compared with the previous year's figure. Overall, exports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 194% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, twine product exports shrank slightly to $X in 2022. Over the period under review, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by 152%. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Myanmar (X tons), the United States (X tons) and Australia (X tons) were the main destinations of twine product exports from Thailand, with a combined 41% share of total exports. The Netherlands, Norway, China, Denmark, Germany, Vietnam, Belgium, India, the Czech Republic and Hong Kong SAR lagged somewhat behind, together accounting for a further 47%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +164.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for articles of twine, cordage, rope or cables exports from Thailand, comprising 21% of total exports. The second position in the ranking was held by Vietnam ($X), with a 9.7% share of total exports. It was followed by Australia, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value to China totaled +26.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+32.9% per year) and Australia (+61.0% per year).

Export Prices by Country

The average twine product export price stood at $X per ton in 2022, with an increase of 6% against the previous year. Over the period under review, the export price, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2015 an increase of 69% against the previous year. 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 export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Myanmar ($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 India (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Twine Product Imports

Imports into Thailand

In 2022, twine product imports into Thailand fell to X tons, dropping by -3.3% compared with 2021 figures. In general, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.5% 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 +46.6% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 54%. Imports peaked at X tons in 2021, and then reduced modestly in the following year.

In value terms, twine product imports surged to $X in 2022. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +66.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 34%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of twine product to Thailand, accounting for a 87% share of total imports. Moreover, twine product imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +8.5%.

In value terms, China ($X) constituted the largest supplier of articles of twine, cordage, rope or cables to Thailand, comprising 50% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +8.8%.

Import Prices by Country

In 2022, the average twine product import price amounted to $X per ton, growing by 28% against the previous year. Over the period under review, the import price, however, recorded a mild slump. The growth pace was the most rapid in 2016 an increase of 40%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+10.6%).

Source: IndexBox Platform

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