ASEAN: Man-Made Filament Fabric Market 2024

Man-Made Filament Fabric Market Size in ASEAN

In 2021, the ASEAN man-made filament fabric market decreased by -0.5% to $X, falling for the second year in a row after five years of growth. The market value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 9.8% against the previous year. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Man-Made Filament Fabric Production in ASEAN

In value terms, man-made filament fabric production contracted to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 13%. As a result, production reached the peak level of $X, and then contracted in the following year.

Man-Made Filament Fabric Exports

Exports in ASEAN

After six years of decline, shipments abroad of woven fabrics of man-made filaments and staple fibers increased by 19% to X tons in 2021. Over the period under review, exports, however, continue to indicate a perceptible shrinkage. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, man-made filament fabric exports expanded markedly to $X in 2021. In general, exports, however, showed a noticeable decline. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Indonesia (X tons), Vietnam (X tons), Malaysia (X tons) and Thailand (X tons) was the main exporter of woven fabrics of man-made filaments and staple fibers in ASEAN, creating 93% of total export. Myanmar (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +54.4%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest man-made filament fabric supplying countries in ASEAN were Indonesia ($X), Vietnam ($X) and Thailand ($X), together comprising 82% of total exports. Malaysia, Singapore and Myanmar lagged somewhat behind, together accounting for a further 17%.

In terms of the main exporting countries, Myanmar, with a CAGR of +30.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, dropping by -5.5% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the export price increased by 14% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Myanmar ($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 (+5.4%), while the other leaders experienced mixed trends in the export price figures.

Man-Made Filament Fabric Imports

Imports in ASEAN

In 2021, purchases abroad of woven fabrics of man-made filaments and staple fibers decreased by -0.2% to X tons, falling for the second consecutive year after five years of growth. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.5% 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 decreased by -13.5% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of 37% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, man-made filament fabric imports expanded notably to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.9% 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 decreased by -7.7% against 2019 indices. The growth pace was the most rapid in 2013 when imports increased by 17%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Vietnam (X tons), Indonesia (X tons), Myanmar (X tons) and Cambodia (X tons) was the main importer of woven fabrics of man-made filaments and staple fibers in ASEAN, achieving 82% of total import. Malaysia (X tons) held a 7.7% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (6%). The Philippines (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +22.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constitutes the largest market for imported woven fabrics of man-made filaments and staple fibers in ASEAN, comprising 46% of total imports. The second position in the ranking was held by Cambodia ($X), with a 16% share of total imports. It was followed by Indonesia, with a 16% share.

In Vietnam, man-made filament fabric imports increased at an average annual rate of +7.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Cambodia (+9.3% per year) and Indonesia (+1.8% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, with an increase of 12% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the import price increased by 13%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($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 (+11.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform