China: Tyre Cord Fabric Market 2023

Tyre Cord Fabric Market Size in China

In 2022, after three years of decline, there was growth in the Chinese tyre cord fabric market, when its value increased by X% to $X. In general, the total consumption indicated a resilient increase 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 decreased by X% against 2018 indices. Tyre cord fabric consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Tyre Cord Fabric Production in China

In value terms, tyre cord fabric production contracted slightly to $X in 2022 estimated in export price. In general, the total production indicated resilient 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 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Tyre Cord Fabric Exports

Exports from China

In 2022, approx. X tons of tyre cord fabric of high tenacity yarn were exported from China; declining by X% against the previous year's figure. In general, total exports indicated strong growth from 2012 to 2022: its volume 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, exports increased by X% against 2016 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, the exports attained the maximum at X tons in 2021, and then shrank in the following year.

In value terms, tyre cord fabric exports reduced to $X in 2022. Over the period under review, total exports 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, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

Thailand (X tons), India (X tons) and Indonesia (X tons) were the main destinations of tyre cord fabric exports from China, together comprising X% of total exports. Japan, South Korea, Turkey, Brazil, Vietnam, the Philippines, Mexico, Russia, Bangladesh and Sri Lanka lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), India ($X) and Indonesia ($X) appeared to be the largest markets for tyre cord fabric exported from China worldwide, with a combined X% share of total exports. Japan, South Korea, Brazil, Turkey, Vietnam, Mexico, the Philippines, Russia, Sri Lanka and Bangladesh lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Russia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tyre cord fabric export price stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Bangladesh ($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 South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tyre Cord Fabric Imports

Imports into China

In 2022, tyre cord fabric imports into China dropped to X tons, shrinking by X% against the year before. Overall, imports saw a noticeable curtailment. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, tyre cord fabric imports totaled $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

India (X tons), Vietnam (X tons) and Thailand (X tons) were the main suppliers of tyre cord fabric imports to China, with a combined X% share of total imports. Taiwan (Chinese), Germany, South Korea, Poland, Japan and Indonesia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Germany ($X) and Taiwan (Chinese) ($X) were the largest tyre cord fabric suppliers to China, together accounting for X% of total imports. Poland, South Korea, Vietnam, Thailand, Japan and Indonesia lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tyre cord fabric import price amounted to $X per ton, surging 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 2021 an increase of X%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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