ASEAN: Tyre Cord Fabric Market 2024

Tyre Cord Fabric Market Size in ASEAN

The ASEAN tyre cord fabric market reached $X in 2023, approximately reflecting the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Tyre Cord Fabric Production in ASEAN

In value terms, tyre cord fabric production totaled $X in 2023 estimated in export price. The total production indicated a resilient expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Tyre Cord Fabric Exports

Exports in ASEAN

In 2023, approx. X tons of tyre cord fabric of high tenacity yarn were exported in ASEAN; approximately reflecting 2022 figures. In general, exports showed a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, tyre cord fabric exports dropped to $X in 2023. Over the period under review, exports recorded buoyant growth. The pace of growth was the most pronounced in 2021 when exports increased by X%. The level of export peaked at $X in 2022, and then reduced in the following year.

Exports by Country

Vietnam prevails in exports structure, accounting for X tons, which was near X% of total exports in 2023. Indonesia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (X%).

Vietnam was also the fastest-growing in terms of the tyre cord fabric of high tenacity yarn exports, with a CAGR of X% from 2012 to 2023. At the same time, Indonesia (X%) displayed positive paces of growth. Thailand experienced a relatively flat trend pattern. While the share of Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Indonesia (X p.p.) and Thailand (X p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) remains the largest tyre cord fabric supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Vietnam totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, falling by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced a decline in the export price figures.

Tyre Cord Fabric Imports

Imports in ASEAN

In 2023, approx. X tons of tyre cord fabric of high tenacity yarn were imported in ASEAN; picking up by X% on 2022 figures. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, tyre cord fabric imports contracted to $X in 2023. Total imports indicated a mild expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Thailand represented the main importer of tyre cord fabric of high tenacity yarn in ASEAN, with the volume of imports amounting to X tons, which was near X% of total imports in 2023. Indonesia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (X%) and the Philippines (X%). Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to tyre cord fabric imports into Thailand stood at X%. At the same time, the Philippines (X%), Indonesia (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2023. Vietnam experienced a relatively flat trend pattern. While the share of Thailand (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Indonesia (X p.p.) and Vietnam (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Indonesia ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Malaysia and the Philippines lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, with a decrease of X% against the previous year. Overall, the import price showed a pronounced descent. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform