Australia: Tyre Cord Fabric Market 2024

Tyre Cord Fabric Market Size in Australia

The Australian tyre cord fabric market dropped to $X in 2022, waning by X% against the previous year. In general, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Tyre cord fabric consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Tyre Cord Fabric Production in Australia

In value terms, tyre cord fabric production reduced to $X in 2022 estimated in export price. Overall, the total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

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Tyre Cord Fabric Exports

Exports from Australia

In 2022, overseas shipments of tyre cord fabric of high tenacity yarn increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, tyre cord fabric exports soared to $X in 2022. In general, exports saw a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X tons) was the main destination for tyre cord fabric exports from Australia, with a X% share of total exports. Moreover, tyre cord fabric exports to Vietnam exceeded the volume sent to the second major destination, China (X tons), more than tenfold. The Philippines (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and the Philippines (X% per year).

In value terms, Vietnam ($X) remains the key foreign market for tyre cord fabric of high tenacity yarn exports from Australia, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Vietnam totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and China (X% per year).

Export Prices by Country

The average tyre cord fabric export price stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price, however, continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (X%), while the prices for the other major destinations experienced mixed trend patterns.

Tyre Cord Fabric Imports

Imports into Australia

In 2022, after two years of growth, there was significant decline in supplies from abroad of tyre cord fabric of high tenacity yarn, when their volume decreased by X% to X tons. Overall, imports, however, showed a temperate expansion. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2021, and then contracted significantly in the following year.

In value terms, tyre cord fabric imports shrank significantly to $X in 2022. In general, imports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Imports peaked at $X in 2021, and then shrank sharply in the following year.

Imports by Country

China (X tons), Indonesia (X tons) and Thailand (X tons) were the main suppliers of tyre cord fabric imports to Australia, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest tyre cord fabric suppliers to Australia were China ($X), Indonesia ($X) and Thailand ($X), together comprising X% of total imports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average tyre cord fabric import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2016 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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