Vietnam: Twine Product Market 2025

Twine Product Market Size in Vietnam

The Vietnamese twine product market surged to $X in 2022, increasing by 34% against the previous year. Over the period under review, consumption recorded prominent growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Twine Product Production in Vietnam

In value terms, twine product production soared to $X in 2022 estimated in export price. In general, production posted resilient growth. The pace of growth appeared the most rapid in 2015 when the production volume increased by 889% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Twine Product Exports

Exports from Vietnam

In 2022, after six years of growth, there was decline in shipments abroad of articles of twine, cordage, rope or cables, when their volume decreased by -0.4% to X tons. Over the period under review, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 196% against the previous year. The exports peaked at X tons in 2021, and then declined modestly in the following year.

In value terms, twine product exports shrank modestly to $X in 2022. Overall, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 141%. Over the period under review, the exports attained the maximum at $X in 2021, and then dropped modestly in the following year.

Exports by Country

The United States (X tons), Japan (X tons) and Bangladesh (X tons) were the main destinations of twine product exports from Vietnam, together comprising 69% of total exports.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +94.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and Bangladesh ($X) constituted the largest markets for twine product exported from Vietnam worldwide, with a combined 70% share of total exports.

Bangladesh, with a CAGR of +75.3%, recorded 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 product export price amounted to $X per ton, remaining stable against the previous year. Over the period under review, the export price showed a deep contraction. The pace of growth was the most pronounced in 2015 when the average export price increased by 6.7% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Netherlands ($X per ton) and the United States ($X per ton), while the average price for exports to Japan ($X per ton) and Cambodia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (-3.0%), while the prices for the other major destinations experienced a decline.

Twine Product Imports

Imports into Vietnam

In 2022, purchases abroad of articles of twine, cordage, rope or cables increased by 14% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2018 when imports increased by 148%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, twine product imports declined to $X in 2022. In general, imports showed buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 100%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), Hong Kong SAR (X tons) and South Korea (X tons) were the main suppliers of twine product imports to Vietnam, together comprising 82% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +25.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Hong Kong SAR ($X) and South Korea ($X) appeared to be the largest twine product suppliers to Vietnam, with a combined 85% share of total imports.

Hong Kong SAR, with a CAGR of +27.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average twine product import price amounted to $X per ton, which is down by -23% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by 28%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a 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 Japan ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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