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

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

In 2022, the Asian high-tenacity filament aramids yarn market decreased by -3.2% to $X, falling for the second consecutive year after six years of growth. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.4% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of High-Tenacity Filament Yarn Of Aramids in Asia

In value terms, high-tenacity filament aramids yarn production totaled $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.1% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 19%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports in Asia

High-tenacity filament aramids yarn exports rose sharply to X tons in 2022, increasing by 8.6% against the previous year's figure. In general, exports recorded strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by 57%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, high-tenacity filament aramids yarn exports expanded significantly to $X in 2022. Overall, exports showed strong growth. The pace of growth appeared the most rapid in 2021 when exports increased by 63%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

South Korea was the major exporting country with an export of about X tons, which reached 61% of total exports. China (X tons) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Japan (9.7%) and Hong Kong SAR (5.7%). Pakistan (X tons) followed a long way behind the leaders.

Exports from South Korea increased at an average annual rate of +11.4% from 2012 to 2022. At the same time, China (+17.3%) and Pakistan (+3.1%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia, with a CAGR of +17.3% from 2012-2022. By contrast, Japan (-2.8%) and Hong Kong SAR (-5.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea, China and Pakistan increased by +21, +11 and +2 percentage points, respectively.

In value terms, South Korea ($X) remains the largest high-tenacity filament aramids yarn supplier in Asia, comprising 60% of total exports. The second position in the ranking was taken by China ($X), with a 19% share of total exports. It was followed by Japan, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Korea stood at +11.9%. In the other countries, the average annual rates were as follows: China (+16.4% per year) and Japan (-2.6% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, growing by 3.5% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 9.5% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+7.6%), while the other leaders experienced more modest paces of growth.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports in Asia

High-tenacity filament aramids yarn imports amounted to X tons in 2022, standing approx. at the previous year's figure. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -0.2% against 2019 indices. The pace of growth was the most pronounced in 2014 when imports increased by 23% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; afterwards, it flattened through to 2022.

In value terms, high-tenacity filament aramids yarn imports rose sharply to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 +95.0% against 2013 indices. The pace of growth was the most pronounced in 2019 with an increase of 24% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, China (X tons) represented the main importer of high-tenacity filament yarn of aramids, committing 36% of total imports. It was distantly followed by India (X tons), Indonesia (X tons), Turkey (X tons), Thailand (X tons) and Hong Kong SAR (X tons), together committing a 47% share of total imports. Israel (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to high-tenacity filament aramids yarn imports into China stood at +4.2%. At the same time, Indonesia (+27.1%), Thailand (+18.5%), Turkey (+12.7%), India (+9.9%) and Israel (+4.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in Asia, with a CAGR of +27.1% from 2012-2022. By contrast, Hong Kong SAR (-6.0%) illustrated a downward trend over the same period. While the share of Indonesia (+10 p.p.), India (+4.5 p.p.), Thailand (+4.2 p.p.) and Turkey (+3.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (-6.4 p.p.) and Hong Kong SAR (-11.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported high-tenacity filament yarn of aramids in Asia, comprising 39% of total imports. The second position in the ranking was held by India ($X), with a 12% share of total imports. It was followed by Turkey, with an 11% share.

In China, high-tenacity filament aramids yarn imports expanded at an average annual rate of +5.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+14.6% per year) and Turkey (+15.1% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, growing by 5.3% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 11% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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