Argentina: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Argentina

The Argentinian synthetic filament tow market skyrocketed to $X in 2021, growing by 39% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a mild reduction. Synthetic filament tow consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Synthetic Filament Tow Exports

Exports from Argentina

In 2021, overseas shipments of synthetic filament tow and staple fibers, not carded or combed increased by 31% to X tons, rising for the second year in a row after two years of decline. Overall, exports saw a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 328% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic filament tow exports surged to $X in 2021. Over the period under review, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 309%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Brazil (X tons) was the main destination for synthetic filament tow exports from Argentina, with a 87% share of total exports. Moreover, synthetic filament tow exports to Brazil exceeded the volume sent to the second major destination, Paraguay (X tons), tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Brazil stood at +43.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+67.1% per year) and Colombia (+68.7% per year).

In value terms, Brazil ($X) remains the key foreign market for synthetic filament tow exports from Argentina, comprising 82% of total exports. The second position in the ranking was held by Paraguay ($X), with a 9% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Brazil amounted to +30.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+56.4% per year) and Colombia (+30.7% per year).

Export Prices by Country

The average synthetic filament tow export price stood at $X per ton in 2021, increasing by 6.2% against the previous year. Overall, the export price, however, continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 16% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Paraguay ($X per ton), while the average price for exports to Colombia ($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 Paraguay (-6.4%), while the prices for the other major destinations experienced a decline.

Synthetic Filament Tow Imports

Imports into Argentina

In 2021, purchases abroad of synthetic filament tow and staple fibers, not carded or combed increased by 26% to X tons, rising for the fourth consecutive year after five years of decline. Over the period under review, total imports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +94.1% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic filament tow imports surged to $X in 2021. In general, imports, however, saw a mild downturn. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), South Korea (X tons) and India (X tons) were the main suppliers of synthetic filament tow imports to Argentina, together comprising 61% of total imports. These countries were followed by Brazil, Turkey, Portugal, Vietnam, Germany, Taiwan (Chinese) and the United States, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +51.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic filament tow suppliers to Argentina were China ($X), South Korea ($X) and Brazil ($X), with a combined 48% share of total imports. These countries were followed by India, Portugal, Turkey, Germany, Vietnam, Taiwan (Chinese) and the United States, which together accounted for a further 42%.

Vietnam, with a CAGR of +43.8%, saw the highest rates of growth with regard to the value of imports, among 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 2021, the average synthetic filament tow import price amounted to $X per ton, surging by 15% against the previous year. Overall, the import price, however, continues to indicate a pronounced shrinkage. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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