Eastern Asia: Tyre Cord Fabric Market 2024

Tyre Cord Fabric Market Size in Eastern Asia

The East Asian tyre cord fabric market expanded modestly to $X in 2023, rising by X% against the previous year. The total consumption indicated a strong increase 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, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Tyre Cord Fabric Production in Eastern Asia

In value terms, tyre cord fabric production expanded remarkably to $X in 2023 estimated in export price. The total production indicated a measured 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 pace of growth appeared the most rapid in 2021 when the production volume increased by X%. 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 Eastern Asia

Tyre cord fabric exports rose remarkably to X tons in 2023, picking up by X% on 2022. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, tyre cord fabric exports reduced to $X in 2023. In general, exports, however, continue to indicate a slight slump. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

China represented the main exporting country with an export of about X tons, which accounted for X% of total exports. South Korea (X tons) ranks second in terms of the total exports with a X% share, followed by Taiwan (Chinese) (X%).

China 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. South Korea (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China increased by X percentage points.

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

From 2012 to 2023, the average annual growth rate of value in China stood at X%. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, falling by X% against the previous year. Overall, the export price saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

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

Tyre Cord Fabric Imports

Imports in Eastern Asia

In 2023, tyre cord fabric imports in Eastern Asia totaled X tons, increasing by X% on 2022 figures. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid 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 dropped slightly to $X in 2023. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X%. The level of import peaked at $X in 2022, and then declined slightly in the following year.

Imports by Country

South Korea (X tons) and Japan (X tons) were the main importers of tyre cord fabric of high tenacity yarn in 2023, reaching approx. X% and X% of total imports, respectively. China (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (X%).

From 2012 to 2023, the biggest increases were recorded for Japan (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest tyre cord fabric importing markets in Eastern Asia were South Korea ($X), Japan ($X) and China ($X), with a combined X% share of total imports.

Japan, with a CAGR of X%, saw 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 mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, falling by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

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

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

Source: IndexBox Platform