Asia: Market for Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning 2024

Market Size for Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning in Asia

After two years of decline, the Asian market for other synthetic tow and staple not carded, combed or otherwise processed for spinning increased by 1.2% to $X in 2021. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning in Asia

In value terms, production of other synthetic tow and staple not carded, combed or otherwise processed for spinning amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 12% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning

Exports in Asia

For the tenth consecutive year, Asia recorded growth in overseas shipments of other synthetic tow and staple not carded, combed or otherwise processed for spinning, which increased by 0.2% to X tons in 2021. In general, exports recorded a prominent expansion. The pace of growth was the most pronounced in 2017 when exports increased by 25%. Over the period under review, the exports of hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, exports of other synthetic tow and staple not carded, combed or otherwise processed for spinning rose notably to $X in 2021. Total exports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +58.3% against 2016 indices. The most prominent rate of growth was recorded in 2018 with an increase of 19%. Over the period under review, the exports of attained the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

The shipments of the three major exporters of other synthetic tow and staple not carded, combed or otherwise processed for spinning, namely China, Taiwan (Chinese) and South Korea, represented more than two-thirds of total export. It was distantly followed by Thailand (X tons) and Japan (X tons), together comprising a 21% share of total exports. Indonesia (X tons) held a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Indonesia (with a CAGR of +130.6%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Japan ($X) were the countries with the highest levels of exports in 2021, together comprising 73% of total exports. Taiwan (Chinese), Thailand and Indonesia lagged somewhat behind, together accounting for a further 27%.

In terms of the main exporting countries, Indonesia, with a CAGR of +129.7%, recorded the highest rates of growth with regard to 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

The export price in Asia stood at $X per ton in 2021, picking up by 12% against the previous year. Overall, the export price, however, showed a perceptible downturn. The level of export peaked 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 Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (-0.4%), while the other leaders experienced a decline in the export price figures.

Imports of Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning

Imports in Asia

In 2021, purchases abroad of other synthetic tow and staple not carded, combed or otherwise processed for spinning decreased by -6.8% to X tons for the first time since 2011, thus ending a nine-year rising trend. In general, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2013 when imports increased by 41% against the previous year. Over the period under review, imports of reached the maximum at X tons in 2020, and then contracted in the following year.

In value terms, imports of other synthetic tow and staple not carded, combed or otherwise processed for spinning shrank slightly to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +27.4% against 2016 indices. The growth pace was the most rapid in 2013 with an increase of 29%. The level of import peaked at $X in 2020, and then dropped modestly in the following year.

Imports by Country

China dominates spinning structure, accounting for X tons, which was approx. 58% of total imports in 2021. It was distantly followed by Indonesia (X tons), Thailand (X tons) and Turkey (X tons), together generating a 19% share of total imports. The following importers - Malaysia (X tons), India (X tons), Japan (X tons), Taiwan (Chinese) (X tons), the Philippines (X tons) and Israel (X tons) - together made up 19% of total imports.

Imports into China increased at an average annual rate of +24.6% from 2012 to 2021. At the same time, the Philippines (+32.4%), Indonesia (+17.5%), India (+14.6%), Turkey (+14.0%), Japan (+13.6%), Taiwan (Chinese) (+5.6%), Malaysia (+3.2%) and Thailand (+1.6%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia, with a CAGR of +32.4% from 2012-2021. By contrast, Israel (-4.9%) illustrated a downward trend over the same period. While the share of China (+32 p.p.), the Philippines (+1.8 p.p.) and Indonesia (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Taiwan (Chinese) (-3.5 p.p.), Malaysia (-5.8 p.p.), Israel (-6.8 p.p.) and Thailand (-12.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported other synthetic tow and staple not carded, combed or otherwise processed for spinning in Asia, comprising 54% of total imports. The second position in the ranking was held by Indonesia ($X), with an 8.3% share of total imports. It was followed by Thailand, with a 6.7% share.

In China, imports of other synthetic tow and staple not carded, combed or otherwise processed for spinning increased at an average annual rate of +10.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+12.2% per year) and Thailand (-2.2% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, surging by 4.1% against the previous year. Over the period under review, the import price, however, saw a deep downturn. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+2.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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