Twine Product Market

The global market for articles of twine, cordage, rope, and cables is forecasted to experience positive growth in both consumption volume and market value. The article provides a detailed analysis of consumption trends, market volume, market value, production statistics, import and export data, and insights into key players in the industry. Key highlights include increasing demand worldwide, anticipated market performance, consumption patterns, production trends, import and export statistics, and market sizes of major countries. The data showcases growth rates, market shares, and export prices to provide a comprehensive overview of the global twine product market.

Market Forecast

Driven by increasing demand for articles of twine, cordage, rope or cables worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market volume to 541K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.3% for the period from 2022 to 2030, which is projected to bring the market value to $4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Articles Of Twine, Cordage, Rope Or Cables

In 2022, consumption of articles of twine, cordage, rope or cables decreased by -0.3% to 409K tons, falling for the third year in a row after three years of growth. Overall, the total consumption indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.3% 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 -1.8% against 2019 indices. Global consumption peaked at 417K tons in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

The global twine product market size shrank to $2.6B in 2022, leveling off at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.1% 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. Over the period under review, the global market hit record highs at $2.7B in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (39K tons), the United States (34K tons) and India (24K tons), with a combined 24% share of global consumption. Russia, Indonesia, Japan, Brazil, France, Mexico, Pakistan, Germany, Bangladesh and Spain lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +10.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest twine product markets worldwide were Japan ($271M), the United States ($195M) and Brazil ($160M), with a combined 24% share of the global market. China, Russia, India, Mexico, Spain, Germany, France, Indonesia, Bangladesh and Pakistan lagged somewhat behind, together accounting for a further 28%.

Among the main consuming countries, Germany, with a CAGR of +13.9%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of twine product per capita consumption in 2022 were Spain (173 kg per 1000 persons), France (166 kg per 1000 persons) and Japan (108 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Germany (with a CAGR of +10.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Articles Of Twine, Cordage, Rope Or Cables

In 2022, approx. 432K tons of articles of twine, cordage, rope or cables were produced worldwide; remaining stable against the previous year's figure. In general, the total production indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +82.6% against 2012 indices. The most prominent rate of growth was recorded in 2017 with an increase of 33% against the previous year. Over the period under review, global production attained the peak volume at 433K tons in 2021, and then fell in the following year.

In value terms, twine product production declined to $2.6B in 2022 estimated in export price. Over the period under review, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 -6.5% against 2019 indices. The growth pace was the most rapid in 2016 when the production volume increased by 14% against the previous year. Global production peaked at $2.7B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

The country with the largest volume of twine product production was China (150K tons), accounting for 35% of total volume. Moreover, twine product production in China exceeded the figures recorded by the second-largest producer, India (28K tons), fivefold. The third position in this ranking was taken by Russia (13K tons), with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +7.6%. The remaining producing countries recorded the following average annual rates of production growth: India (+5.7% per year) and Russia (+5.3% per year).

Imports

World Imports of Articles Of Twine, Cordage, Rope Or Cables

In 2022, the amount of articles of twine, cordage, rope or cables imported worldwide expanded slightly to 144K tons, increasing by 3.4% compared with 2021. In general, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 +22.3% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 19% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, twine product imports expanded slightly to $795M in 2022. The total import value increased at an average annual rate of +4.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 21%. Global imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the United States (36K tons) was the key importer of articles of twine, cordage, rope or cables, constituting 25% of total imports. Germany (9.5K tons) held a 6.6% share (based on physical terms) of total imports, which put it in second place, followed by the Netherlands (5.7%) and France (4.9%). The UK (5.8K tons), Mexico (5.6K tons), Canada (4.4K tons), South Korea (3.9K tons), Spain (3.8K tons), Italy (3.7K tons), Australia (3.2K tons), Japan (3K tons) and Belgium (2.8K tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to twine product imports into the United States stood at +3.6%. At the same time, South Korea (+16.9%), the Netherlands (+14.5%), France (+14.1%), Belgium (+11.9%), Germany (+11.0%), Australia (+9.5%), Mexico (+7.2%), Spain (+6.1%), Italy (+5.9%), Canada (+5.9%), the UK (+1.2%) and Japan (+1.1%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in the world, with a CAGR of +16.9% from 2012-2022. From 2012 to 2022, the share of the Netherlands, France, Germany and South Korea increased by +3.2, +2.7, +2.6 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($206M) constitutes the largest market for imported articles of twine, cordage, rope or cables worldwide, comprising 26% of global imports. The second position in the ranking was held by Germany ($53M), with a 6.7% share of global imports. It was followed by the UK, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +1.3%. In the other countries, the average annual rates were as follows: Germany (+14.5% per year) and the UK (+7.4% per year).

Import Prices By Country

In 2022, the average twine product import price amounted to $5,518 per ton, approximately mirroring the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average import price increased by 4.1%. Over the period under review, average import prices hit record highs at $6,086 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($10,263 per ton), while France ($3,604 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+6.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Articles Of Twine, Cordage, Rope Or Cables

For the third year in a row, the global market recorded growth in shipments abroad of articles of twine, cordage, rope or cables, which increased by 3.3% to 167K tons in 2022. In general, total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +28.8% against 2018 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 25% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, twine product exports rose sharply to $935M in 2022. Overall, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 30%. The global exports peaked in 2022 and are likely to see steady growth in the near future.

Exports By Country

China prevails in exports structure, reaching 111K tons, which was near 67% of total exports in 2022. The following exporters - Portugal (5.2K tons), India (4.4K tons), the Netherlands (4.1K tons), the United States (4K tons), Germany (3.9K tons), Bangladesh (3.3K tons) and Turkey (3K tons) - together made up 17% of total exports.

From 2012 to 2022, average annual rates of growth with regard to twine product exports from China stood at +10.3%. At the same time, Bangladesh (+43.4%), Turkey (+27.0%), Portugal (+15.8%), the Netherlands (+12.9%), India (+2.7%), Germany (+2.3%) and the United States (+1.7%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in the world, with a CAGR of +43.4% from 2012-2022. China (+12 p.p.), Bangladesh (+1.9 p.p.) and Portugal (+1.6 p.p.) significantly strengthened its position in terms of the global exports, while Germany, India and the United States saw its share reduced by -1.7%, -1.7% and -2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($500M) remains the largest twine product supplier worldwide, comprising 53% of global exports. The second position in the ranking was held by Germany ($51M), with a 5.4% share of global exports. It was followed by the United States, with a 5.1% share.

In China, twine product exports increased at an average annual rate of +13.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+3.8% per year) and the United States (+8.2% per year).

Export Prices By Country

In 2022, the average twine product export price amounted to $5,605 per ton, rising by 7.8% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($12,960 per ton), while Bangladesh ($2,558 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform