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

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

In 2021, the Asian high-tenacity filament polyester yarn market increased by 2.8% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption recorded a slight contraction. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of High-Tenacity Filament Yarn Of Polyesters in Asia

In value terms, high-tenacity filament polyester yarn production expanded significantly to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 19%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of High-Tenacity Filament Yarn Of Polyesters

Exports in Asia

In 2021, overseas shipments of high-tenacity filament yarn of polyesters were finally on the rise to reach X tons after two years of decline. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +7.4% 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.

In value terms, high-tenacity filament polyester yarn exports soared to $X in 2021. The total export value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China prevails in exports structure, finishing at X tons, which was near 75% of total exports in 2021. South Korea (X tons) held an 8.3% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (6.8%). Indonesia (X tons), Vietnam (X tons), Thailand (X tons) and India (X tons) held a relatively small share of total exports.

Exports from China increased at an average annual rate of +9.2% from 2012 to 2021. At the same time, Vietnam (+25.1%), Indonesia (+22.8%), Thailand (+15.3%), India (+13.8%) and Taiwan (Chinese) (+1.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +25.1% from 2012-2021. By contrast, South Korea (-1.4%) illustrated a downward trend over the same period. China (+10 p.p.) and Indonesia (+2.3 p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) and South Korea saw its share reduced by -4.4% and -9.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest high-tenacity filament polyester yarn supplier in Asia, comprising 66% of total exports. The second position in the ranking was held by South Korea ($X), with a 10% share of total exports. It was followed by Taiwan (Chinese), with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +4.2%. In the other countries, the average annual rates were as follows: South Korea (-3.9% per year) and Taiwan (Chinese) (-1.8% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, surging by 9.4% against the previous year. Over the period under review, the export price, however, showed a noticeable decrease. The growth pace was the most rapid in 2018 an increase of 14% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Thailand ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-1.4%), while the other leaders experienced a decline in the export price figures.

Imports of High-Tenacity Filament Yarn Of Polyesters

Imports in Asia

In 2021, imports of high-tenacity filament yarn of polyesters in Asia surged to X tons, picking up by 40% on the previous year. Overall, imports recorded strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, high-tenacity filament polyester yarn imports soared to $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons), India (X tons), China (X tons) and Turkey (X tons) represented roughly 58% of total imports in 2021. Thailand (X tons) ranks next in terms of the total imports with a 7.1% share, followed by Japan (6.6%), Vietnam (6.1%) and Indonesia (4.6%). The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +24.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Turkey ($X) constituted the countries with the highest levels of imports in 2021, with a combined 43% share of total imports. South Korea, Japan, Thailand, Vietnam, the Philippines and Indonesia lagged somewhat behind, together accounting for a further 44%.

Vietnam, with a CAGR of +21.9%, saw the highest growth rate of 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

The import price in Asia stood at $X per ton in 2021, picking up by 6.1% against the previous year. Overall, the import price, however, continues to indicate a pronounced decline. The growth pace was the most rapid in 2018 an increase of 13%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per ton), while South Korea ($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 (-1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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