ASEAN: Artificial Staple Fibre Market 2024

Artificial Staple Fibre Market Size in ASEAN

After two years of growth, the ASEAN artificial staple fibre market decreased by -21.7% to $X in 2021. Over the period under review, consumption showed a abrupt decrease. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Artificial Staple Fibre Production in ASEAN

In value terms, artificial staple fibre production fell dramatically to $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2020 when the production volume increased by 78%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Artificial Staple Fibre Exports

Exports in ASEAN

In 2021, overseas shipments of artificial staple fibres increased by 102% to X tons, rising for the second year in a row after four years of decline. In general, exports enjoyed a modest increase. The most prominent rate of growth was recorded in 2015 when exports increased by 107% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, artificial staple fibre exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt setback. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia represented the major exporting country with an export of about X tons, which finished at 83% of total exports. Malaysia (X tons) took an 11% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (5.9%).

From 2012 to 2021, average annual rates of growth with regard to artificial staple fibre exports from Indonesia stood at +1.5%. At the same time, Malaysia (+24.3%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +24.3% from 2012-2021. By contrast, Vietnam (-6.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Malaysia increased by +9.2 percentage points.

In value terms, Indonesia ($X) remains the largest artificial staple fibre supplier in ASEAN, comprising 76% of total exports. The second position in the ranking was held by Malaysia ($X), with a 14% share of total exports.

In Indonesia, artificial staple fibre exports contracted by an average annual rate of -5.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+14.5% per year) and Vietnam (+3.5% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, waning by -12.2% against the previous year. In general, the export price saw a abrupt decline. The most prominent rate of growth was recorded in 2019 when the export price increased by 13%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+10.7%), while the other leaders experienced a decline in the export price figures.

Artificial Staple Fibre Imports

Imports in ASEAN

In 2021, artificial staple fibre imports in ASEAN expanded to X tons, picking up by 1.9% against the previous year's figure. Overall, imports, however, recorded a slight contraction. The growth pace was the most rapid in 2016 with an increase of 43% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, artificial staple fibre imports contracted to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 78% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Cambodia represented the key importing country with an import of about X tons, which amounted to 51% of total imports. Vietnam (X tons) ranks second in terms of the total imports with a 28% share, followed by Thailand (10%) and the Philippines (6%). Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +25.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest artificial staple fibre importing markets in ASEAN were Cambodia ($X), Vietnam ($X) and Thailand ($X), with a combined 92% share of total imports.

Cambodia, with a CAGR of +29.9%, recorded the highest rates of growth with regard to the value of imports, among 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 ASEAN stood at $X per ton in 2021, declining by -5.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2015 an increase of 29%. Over the period under review, import prices hit record highs at $X per ton in 2020, and then dropped in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+17.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform