ASEAN: Market for High-Tenacity Filament Yarn Of Aramids 2024

Market Size for High-Tenacity Filament Yarn Of Aramids in ASEAN

The ASEAN high-tenacity filament aramids yarn market was estimated at $X in 2022, growing by 5.5% against the previous year. Over the period under review, consumption posted a prominent increase. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Production of High-Tenacity Filament Yarn Of Aramids in ASEAN

In value terms, high-tenacity filament aramids yarn production expanded modestly to $X in 2022 estimated in export price. Overall, production enjoyed a strong increase. The pace of growth was the most pronounced in 2014 when the production volume increased by 40% against the previous year. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports in ASEAN

In 2022, after two years of growth, there was decline in shipments abroad of high-tenacity filament yarn of aramids, when their volume decreased by -4.2% to X tons. In general, exports showed a pronounced decline. The growth pace was the most rapid in 2016 when exports increased by 235% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, high-tenacity filament aramids yarn exports shrank significantly to $X in 2022. Overall, exports showed a perceptible shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by 244%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand represented the major exporting country with an export of around X tons, which accounted for 68% of total exports. Vietnam (X tons) held the second position in the ranking, followed by Indonesia (X tons) and Malaysia (X tons). All these countries together held near 31% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to high-tenacity filament aramids yarn exports from Thailand stood at -2.1%. At the same time, Malaysia (+2.9%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +2.9% from 2012-2022. By contrast, Indonesia (-3.9%) and Vietnam (-11.2%) illustrated a downward trend over the same period. While the share of Thailand (+16 p.p.) and Malaysia (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Vietnam (-15.3 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) constituted the countries with the highest levels of exports in 2022, with a combined 89% share of total exports. These countries were followed by Malaysia, which accounted for a further 9.2%.

Malaysia, with a CAGR of +7.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, shrinking by -20.1% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the export price increased by 212%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+11.5%), while the other leaders experienced more modest paces of growth.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports in ASEAN

In 2022, approx. X tons of high-tenacity filament yarn of aramids were imported in ASEAN; with an increase of 53% compared with 2021 figures. In general, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 62%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, high-tenacity filament aramids yarn imports skyrocketed to $X in 2022. Over the period under review, imports posted strong growth. The pace of growth appeared the most rapid in 2021 with an increase of 60% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Indonesia was the main importing country with an import of about X tons, which reached 56% of total imports. Thailand (X tons) took a 29% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (7.5%). Malaysia (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +27.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest high-tenacity filament aramids yarn importing markets in ASEAN were Indonesia ($X), Thailand ($X) and Vietnam ($X), together comprising 95% of total imports.

Indonesia, with a CAGR of +22.7%, saw the highest rates of growth with regard to 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

In 2022, the import price in ASEAN amounted to $X per ton, dropping by -6.5% against the previous year. Overall, the import price continues to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2016 an increase of 10%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the 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 ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+2.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform