ASEAN: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in ASEAN

The ASEAN synthetic filament tow market shrank to $X in 2021, waning by -10.1% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Synthetic Filament Tow Production in ASEAN

In value terms, synthetic filament tow production dropped modestly to $X in 2021 estimated in export price. The total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +60.8% against 2012 indices. The pace of growth appeared the most rapid in 2017 with an increase of 16%. Over the period under review, production hit record highs at $X in 2020, and then contracted slightly in the following year.

Synthetic Filament Tow Exports

Exports in ASEAN

For the tenth consecutive year, ASEAN recorded growth in overseas shipments of synthetic filament tow and staple fibers, not carded or combed, which increased by 10% to X tons in 2021. Over the period under review, exports posted a strong increase. The most prominent rate of growth was recorded in 2018 when exports increased by 24% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, synthetic filament tow exports surged to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand represented the main exporting country with an export of about X tons, which reached 42% of total exports. Indonesia (X tons) held the second position in the ranking, followed by Vietnam (X tons) and Malaysia (X tons). All these countries together took near 58% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Indonesia (with a CAGR of +15.9%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) remains the largest synthetic filament tow supplier in ASEAN, comprising 44% of total exports. The second position in the ranking was held by Malaysia ($X), with a 21% share of total exports. It was followed by Indonesia, with a 20% share.

In Thailand, synthetic filament tow exports increased at an average annual rate of +2.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (+9.1% per year) and Indonesia (+11.5% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, rising by 20% against the previous year. In general, the export price, however, recorded a noticeable downturn. The pace of growth appeared the most rapid in 2017 an increase of 21%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Malaysia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+1.2%), while the other leaders experienced a decline in the export price figures.

Synthetic Filament Tow Imports

Imports in ASEAN

In 2021, after two years of decline, there was significant growth in overseas purchases of synthetic filament tow and staple fibers, not carded or combed, when their volume increased by 11% to X tons. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 23%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, synthetic filament tow imports soared to $X in 2021. Overall, imports, however, continue to indicate a mild reduction. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Vietnam (X tons) was the main importer of synthetic filament tow and staple fibers, not carded or combed, committing 52% of total imports. It was distantly followed by Indonesia (X tons), Thailand (X tons) and Malaysia (X tons), together mixing up a 44% share of total imports. The Philippines (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of +3.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic filament tow importing markets in ASEAN were Vietnam ($X), Indonesia ($X) and Thailand ($X), with a combined 90% share of total imports. Malaysia and the Philippines lagged somewhat behind, together accounting for a further 9%.

Among the main importing countries, the Philippines, with a CAGR of +1.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, picking up by 19% against the previous year. Overall, the import price, however, recorded a perceptible curtailment. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (-1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform