United Kingdom: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in the UK

In 2021, the UK synthetic filament tow market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Synthetic Filament Tow Production in the UK

In value terms, synthetic filament tow production reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 77% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Synthetic Filament Tow Exports

Exports from the UK

For the fifth consecutive year, the UK recorded decline in overseas shipments of synthetic filament tow and staple fibers, not carded or combed, which decreased by -45.7% to X tons in 2021. In general, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 32% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, synthetic filament tow exports dropped notably to $X in 2021. Overall, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of 8.9% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Italy (X tons), Germany (X tons) and Lithuania (X tons) were the main destinations of synthetic filament tow exports from the UK, with a combined 49% share of total exports. These countries were followed by Ireland, France, China, the Czech Republic, Belgium, the Netherlands, the United States, Poland, Spain and Australia, which together accounted for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Czech Republic (with a CAGR of +35.6%), while the other leaders experienced mixed trend patterns.

In value terms, Italy ($X), Germany ($X) and China ($X) were the largest markets for synthetic filament tow exported from the UK worldwide, with a combined 46% share of total exports. These countries were followed by Lithuania, the United States, the Netherlands, France, Belgium, Spain, Ireland, the Czech Republic, Poland and Australia, which together accounted for a further 33%.

The Czech Republic, with a CAGR of +30.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average synthetic filament tow export price amounted to $X per ton, rising by 37% against the previous year. In general, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Ireland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Filament Tow Imports

Imports into the UK

In 2021, purchases abroad of synthetic filament tow and staple fibers, not carded or combed increased by 13% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2014 with an increase of 14%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, synthetic filament tow imports surged to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

South Korea (X tons), Vietnam (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of synthetic filament tow imports to the UK, with a combined 42% share of total imports. These countries were followed by Belgium, Indonesia, Ireland, China, Germany, Portugal, Japan, Turkey, Thailand and the United States, which together accounted for a further 47%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +39.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic filament tow suppliers to the UK were South Korea ($X), Belgium ($X) and Germany ($X), together accounting for 33% of total imports. These countries were followed by Japan, Vietnam, Portugal, Taiwan (Chinese), Ireland, Indonesia, China, the United States, Turkey and Thailand, which together accounted for a further 55%.

In terms of the main suppliers, Portugal, with a CAGR of +41.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average synthetic filament tow import price amounted to $X per ton, surging by 18% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+8.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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