Asia: Aramids Staple Market 2024

Aramids Staple Market Size in Asia

The Asian aramids staple market stood at $X in 2021, standing approx. at the previous year. In general, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Aramids Staple Production in Asia

In value terms, aramids staple production expanded modestly to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by 11%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Aramids Staple Exports

Exports in Asia

After three years of decline, shipments abroad of aramids staple increased by 26% to X tons in 2021. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when exports increased by 40%. The volume of export peaked in 2021 and is likely to continue growth in years to come.

In value terms, aramids staple exports soared to $X in 2021. Total exports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. 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

South Korea represented the main exporting country with an export of around X tons, which finished at 44% of total exports. China (X tons) ranks second in terms of the total exports with a 25% share, followed by Thailand (19%) and Hong Kong SAR (6.1%). The following exporters - Japan (X tons) and India (X tons) - together made up 4.2% of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +151.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest aramids staple supplying countries in Asia were South Korea ($X), China ($X) and Thailand ($X), with a combined 86% share of total exports.

Thailand, with a CAGR of +122.5%, recorded the highest growth rate of the value of exports, among the main exporting countries 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 Asia amounted to $X per ton, stabilizing at the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the export price increased by 14% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Hong Kong SAR ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.6%), while the other leaders experienced more modest paces of growth.

Aramids Staple Imports

Imports in Asia

After two years of decline, supplies from abroad of aramids staple increased by 25% to X tons in 2021. Over the period under review, imports saw strong growth. The growth pace was the most rapid in 2017 when imports increased by 39% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, aramids staple imports skyrocketed to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -1.3% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 28%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons), distantly followed by Turkey (X tons), Taiwan (Chinese) (X tons), India (X tons), Pakistan (X tons) and Hong Kong SAR (X tons) represented the major importers of aramids staple, together creating 91% of total imports. South Korea (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +55.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest aramids staple importing markets in Asia were China ($X), Turkey ($X) and Taiwan (Chinese) ($X), with a combined 70% share of total imports. Pakistan, India, Hong Kong SAR and South Korea lagged somewhat behind, together comprising a further 24%.

Pakistan, with a CAGR of +75.8%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, approximately equating the previous year. Over the period under review, the import price, however, continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2020 when the import price increased by 8.1% against the previous year. 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 Turkey ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+13.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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