ASEAN: Twine Product Market 2024

Twine Product Market Size in ASEAN

The ASEAN twine product market rose significantly to $X in 2023, increasing by X% against the previous year. Over the period under review, consumption continues to indicate a strong expansion. Over the period under review, the market attained the peak level at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Twine Product Production in ASEAN

In value terms, twine product production amounted to $X in 2023 estimated in export price. Over the period under review, production saw a buoyant expansion. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Twine Product Exports

Exports in ASEAN

In 2023, after five years of growth, there was significant decline in overseas shipments of articles of twine, cordage, rope or cables, when their volume decreased by X% to X tons. Over the period under review, exports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2020 when exports increased by X%. The volume of export peaked at X tons in 2022, and then reduced in the following year.

In value terms, twine product exports fell to $X in 2023. Overall, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2022, and then contracted in the following year.

Exports by Country

Vietnam represented the largest exporting country with an export of about X tons, which resulted at X% of total exports. Indonesia (X tons) held the second position in the ranking, followed by Malaysia (X tons) and Cambodia (X tons). All these countries together took approx. X% share of total exports. Thailand (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to twine product exports from Vietnam stood at X%. At the same time, Cambodia (X%), Thailand (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, Indonesia (X%) and Singapore (X%) illustrated a downward trend over the same period. Vietnam (X p.p.), Cambodia (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore, Malaysia and Indonesia saw its share reduced by X%, X% and X% from 2012 to 2023, respectively.

In value terms, Vietnam ($X) remains the largest twine product supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Cambodia ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

In Vietnam, twine product exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Cambodia (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, dropping by X% against the previous year. Overall, the export price continues to indicate a mild curtailment. The growth pace was the most rapid in 2016 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced a decline in the export price figures.

Twine Product Imports

Imports in ASEAN

In 2023, approx. X tons of articles of twine, cordage, rope or cables were imported in ASEAN; with a decrease of X% against 2022 figures. Total imports indicated a temperate increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, twine product imports stood at $X in 2023. Total imports indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

Vietnam (X tons) and Indonesia (X tons) were the largest importers of articles of twine, cordage, rope or cables in 2023, resulting at near X% and X% of total imports, respectively. Malaysia (X tons) ranks next in terms of the total imports with a X% share, followed by Cambodia (X%), Thailand (X%) and Singapore (X%). Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Myanmar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest twine product importing markets in ASEAN were Vietnam ($X), Indonesia ($X) and Cambodia ($X), with a combined X% share of total imports.

Cambodia, with a CAGR of X%, saw the highest rates of growth with regard to 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 2023, the import price in ASEAN amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2023 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Cambodia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform