ASEAN: Synthetic Yarn Market 2024

Synthetic Yarn Market Size in ASEAN

For the third consecutive year, the ASEAN synthetic yarn market recorded growth in sales value, which increased by X% to $X in 2022. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Synthetic Yarn Production in ASEAN

In value terms, synthetic yarn production contracted slightly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Synthetic Yarn Exports

Exports in ASEAN

In 2022, the amount of yarn of synthetic or artificial staple fibers exported in ASEAN declined to X tons, which is down by X% against 2021. Overall, exports continue to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2021 with an increase of X%. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, synthetic yarn exports expanded modestly to $X in 2022. In general, exports recorded a pronounced decline. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia represented the major exporter of yarn of synthetic or artificial staple fibers in ASEAN, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Vietnam (X tons) and Thailand (X tons), together committing a X% share of total exports.

Exports from Indonesia decreased at an average annual rate of X% from 2012 to 2022. Thailand experienced a relatively flat trend pattern. Vietnam (X%) illustrated a downward trend over the same period. Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest synthetic yarn supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with an X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia stood at X%. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Vietnam ($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 (X%), while the other leaders experienced a decline in the export price figures.

Synthetic Yarn Imports

Imports in ASEAN

In 2022, synthetic yarn imports in ASEAN reduced to X tons, shrinking by X% compared with the previous year's figure. Total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, synthetic yarn imports totaled $X in 2022. Total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Vietnam represented the key importer of yarn of synthetic or artificial staple fibers in ASEAN, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. Indonesia (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (X%), Malaysia (X%) and Cambodia (X%). The Philippines (X tons) and Singapore (X tons) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the yarn of synthetic or artificial staple fibers imports, with a CAGR of X% from 2012 to 2022. At the same time, Indonesia (X%), Singapore (X%) and Malaysia (X%) displayed positive paces of growth. By contrast, Thailand (X%), Cambodia (X%) and the Philippines (X%) illustrated a downward trend over the same period. Vietnam (X p.p.) and Indonesia (X p.p.) significantly strengthened its position in terms of the total imports, while Thailand, Cambodia and the Philippines saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported yarn of synthetic or artificial staple fibers in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports. It was followed by Cambodia, with a X% share.

In Vietnam, synthetic yarn imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Cambodia (X% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, rising by X% against the previous year. Over the period under review, the import price, however, saw a slight downturn. The pace of growth appeared the most rapid in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cambodia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform