Global Twine Product Market 2022

Twine Product Market Size

The global twine product market was estimated at $X in 2021, approximately equating the previous year. Overall, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +89.2% against 2012 indices. Global consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Twine Product Production

In value terms, twine product production contracted to $X in 2021 estimated in export price. Overall, production, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2018 with an increase of 17% against the previous year. Global production peaked at $X in 2020, and then declined in the following year.

Twine Product Exports

Exports

For the fifth consecutive year, the global market recorded growth in shipments abroad of articles of twine, cordage, rope or cables, which increased by 25% to X tons in 2021. Over the period under review, total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +9.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +118.8% against 2012 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, twine product exports skyrocketed to $X in 2021. In general, total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.4% 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 +81.3% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, reaching X tons, which was approx. 65% of total exports in 2021. The following exporters - India (X tons), Germany (X tons), Portugal (X tons), the Netherlands (X tons), the United States (X tons), Vietnam (X tons), Taiwan (Chinese) (X tons), Bangladesh (X tons) and Turkey (X tons) - together made up 21% of total exports.

From 2012 to 2021, average annual rates of growth with regard to twine product exports from China stood at +11.3%. At the same time, Bangladesh (+48.7%), Turkey (+23.1%), Vietnam (+17.7%), Portugal (+15.3%), the Netherlands (+13.3%), India (+13.1%) and Germany (+4.7%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in the world, with a CAGR of +48.7% from 2012-2021. The United States and Taiwan (Chinese) experienced a relatively flat trend pattern. While the share of China (+11 p.p.) and Bangladesh (+2 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of the United States (-2.2 p.p.) and Taiwan (Chinese) (-2.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest twine product supplier worldwide, comprising 50% of global exports. The second position in the ranking was taken by Germany ($X), with a 6.6% share of global exports. It was followed by the United States, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +12.1%. In the other countries, the average annual rates were as follows: Germany (+5.3% per year) and the United States (+6.3% per year).

Export Prices by Country

In 2021, the average twine product export price amounted to $X per ton, standing approx. at the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 3% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the the average export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+5.5%), while the other global leaders experienced more modest paces of growth.

Twine Product Imports

Imports

In 2021, approx. X tons of articles of twine, cordage, rope or cables were imported worldwide; rising by 24% on 2020. In general, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.5% 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 +56.4% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, twine product imports surged to $X in 2021. The total import value increased at an average annual rate of +5.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States represented the major importer of articles of twine, cordage, rope or cables in the world, with the volume of imports reaching X tons, which was approx. 30% of total imports in 2021. Germany (X tons) held a 7% share (based on physical terms) of total imports, which put it in second place, followed by the Netherlands (5.3%). The UK (X tons), Mexico (X tons), France (X tons), Canada (X tons), Italy (X tons), Australia (X tons), South Korea (X tons), Spain (X tons), Japan (X tons) and Belgium (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to twine product imports into the United States stood at +5.7%. At the same time, South Korea (+17.0%), the Netherlands (+15.1%), Germany (+12.8%), Belgium (+11.7%), Australia (+11.3%), France (+11.3%), Mexico (+7.9%), Canada (+6.2%), Italy (+6.2%), the UK (+4.4%) and Spain (+3.4%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in the world, with a CAGR of +17.0% from 2012-2021. Japan experienced a relatively flat trend pattern. Germany (+2.8 p.p.) and the Netherlands (+2.7 p.p.) significantly strengthened its position in terms of the global imports, while the United States saw its share reduced by -2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported articles of twine, cordage, rope or cables worldwide, comprising 29% of global imports. The second position in the ranking was held by Germany ($X), with a 6.8% share of global imports. It was followed by Mexico, with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States stood at +2.3%. In the other countries, the average annual rates were as follows: Germany (+16.0% per year) and Mexico (+8.5% per year).

Import Prices by Country

In 2021, the average twine product import price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the import price showed a mild downturn. The pace of growth was the most pronounced in 2013 an increase of 3.7% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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