Asia: Tyre Cord Fabric Market 2023

Tyre Cord Fabric Market Size in Asia

In 2021, the Asian tyre cord fabric market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in the near future.

Tyre Cord Fabric Production in Asia

In value terms, tyre cord fabric production stood at $X in 2021 estimated in export price. The total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.4% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Tyre Cord Fabric Exports

Exports in Asia

Tyre cord fabric exports surged to X tons in 2021, increasing by 45% compared with the previous year. The total export volume increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tyre cord fabric exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) and Vietnam (X tons) prevails in exports structure, together comprising 74% of total exports. South Korea (X tons) held an 8.4% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (7.5%). Indonesia (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons) held a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Vietnam (with a CAGR of +10.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest tyre cord fabric supplying countries in Asia were China ($X), Vietnam ($X) and Turkey ($X), together accounting for 79% of total exports.

Vietnam, with a CAGR of +9.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, increasing by 20% against the previous year. Overall, the export price, however, saw a slight descent. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.9%), while the other leaders experienced mixed trends in the export price figures.

Tyre Cord Fabric Imports

Imports in Asia

In 2021, supplies from abroad of tyre cord fabric of high tenacity yarn increased by 36% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +4.0% 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.

In value terms, tyre cord fabric imports soared to $X in 2021. The total import value increased at an average annual rate of +2.5% 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

In 2021, Thailand (X tons), India (X tons), Japan (X tons), South Korea (X tons), Indonesia (X tons) and Turkey (X tons) represented the key importer of tyre cord fabric of high tenacity yarn in Asia, achieving 76% of total import. China (X tons), Bangladesh (X tons), Vietnam (X tons), Sri Lanka (X tons), Pakistan (X tons), Taiwan (Chinese) (X tons) and the Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +19.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Thailand ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 49% of total imports. Japan, Indonesia, Turkey, China, Vietnam, Pakistan, Sri Lanka, Taiwan (Chinese), Bangladesh and the Philippines lagged somewhat behind, together comprising a further 49%.

In terms of the main importing countries, the Philippines, with a CAGR of +18.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, jumping by 23% against the previous year. Over the period under review, the import price, however, saw a slight decline. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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