Asia-Pacific: Aramids Staple Market 2024

Aramids Staple Market Size in Asia-Pacific

In 2021, the Asia-Pacific aramids staple market decreased by -13.4% to $X, falling for the second consecutive year after two years of growth. In general, consumption saw a noticeable shrinkage. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Aramids Staple Production in Asia-Pacific

In value terms, aramids staple production expanded to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 11%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Aramids Staple Exports

Exports in Asia-Pacific

In 2021, shipments abroad of aramids staple was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. 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 expected to retain growth in years to come.

In value terms, aramids staple exports soared to $X in 2021. Total exports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.7% 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 decreased by -0.3% against 2019 indices. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Korea represented the major exporter of aramids staple in Asia-Pacific, with the volume of exports amounting to X tons, which was approx. 44% of total exports in 2021. 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%). Japan (X tons) and India (X tons) followed a long way behind the leaders.

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, South Korea ($X), China ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 86% of total exports.

In terms of the main exporting countries, Thailand, with a CAGR of +122.5%, 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

In 2021, the export price in Asia-Pacific amounted to $X per ton, flattening at the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the export price increased by 14%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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-Pacific

In 2021, supplies from abroad of aramids staple was finally on the rise to reach X tons after two years of decline. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.9% 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 -20.4% against 2018 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 45% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, aramids staple imports rose remarkably to $X in 2021. The total import 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 most prominent rate of growth was recorded in 2017 with an increase of 22% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the largest importer of aramids staple, mixing up 48% of total imports. It was distantly followed by Taiwan (Chinese) (X tons), India (X tons), Pakistan (X tons), Hong Kong SAR (X tons) and South Korea (X tons), together comprising a 45% share of total imports. Japan (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to aramids staple imports into China stood at +6.8%. At the same time, Pakistan (+55.1%), India (+16.8%), Taiwan (Chinese) (+13.6%) and South Korea (+3.9%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +55.1% from 2012-2021. Japan experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-6.8%) illustrated a downward trend over the same period. Pakistan (+10 p.p.), India (+6.6 p.p.), Taiwan (Chinese) (+5.5 p.p.) and China (+3.5 p.p.) significantly strengthened its position in terms of the total imports, while Japan and Hong Kong SAR saw its share reduced by -3% and -13.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported aramids staple in Asia-Pacific, comprising 46% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 13% share of total imports. It was followed by Pakistan, with an 11% share.

In China, aramids staple imports expanded at an average annual rate of +2.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+10.3% per year) and Pakistan (+75.8% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, flattening at the previous year. In general, the import price saw a noticeable slump. The pace of growth was the most pronounced in 2020 when the import price increased by 8.8% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 Pakistan (+13.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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