Vietnam: Twine Product Market 2024

Twine Product Market Size in Vietnam

The Vietnamese twine product market shrank to $X in 2022, reducing by X% against the previous year. Over the period under review, the total consumption indicated a perceptible 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 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Twine Product Production in Vietnam

In value terms, twine product production surged to $X in 2022 estimated in export price. Overall, production enjoyed a strong increase. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

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Twine Product Exports

Exports from Vietnam

In 2022, shipments abroad of articles of twine, cordage, rope or cables increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, twine product exports dropped to $X in 2022. Over the period under review, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then contracted modestly in the following year.

Exports by Country

The United States (X tons), Japan (X tons) and Cambodia (X tons) were the main destinations of twine product exports from Vietnam, together comprising X% of total exports. Bangladesh, South Korea, Indonesia and India lagged somewhat behind, together accounting for a further X%.

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

In value terms, the United States ($X), Japan ($X) and Cambodia ($X) appeared to be the largest markets for twine product exported from Vietnam worldwide, with a combined X% share of total exports. Bangladesh, South Korea, Indonesia and India lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Bangladesh, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the average twine product export price amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price saw a slight contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to India ($X per ton) and Indonesia ($X per ton), while the average price for exports to South Korea ($X per ton) and Cambodia ($X per ton) were amongst the lowest.

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

Twine Product Imports

Imports into Vietnam

In 2022, approx. X tons of articles of twine, cordage, rope or cables were imported into Vietnam; approximately reflecting the year before. In general, total imports indicated a resilient increase 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, twine product imports stood at $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest twine product supplier to Vietnam, accounting for a X% share of total imports. Moreover, twine product imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. The third position in this ranking was taken by South Korea (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

In value terms, China ($X) constituted the largest supplier of articles of twine, cordage, rope or cables to Vietnam, comprising X% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Import Prices by Country

The average twine product import price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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