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

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

In 2022, the Asia-Pacific high-tenacity filament aramids yarn market decreased by -3.1% to $X, falling for the second year in a row after six years of growth. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 -5.8% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of High-Tenacity Filament Yarn Of Aramids in Asia-Pacific

In value terms, high-tenacity filament aramids yarn production stood at $X in 2022 estimated in export price. The total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 -1.4% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 21% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports in Asia-Pacific

In 2022, the amount of high-tenacity filament yarn of aramids exported in Asia-Pacific reached X tons, surging by 9.5% against 2021 figures. Over the period under review, exports saw a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of 61% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, high-tenacity filament aramids yarn exports reached $X in 2022. Overall, exports enjoyed prominent growth. The pace of growth was the most pronounced in 2021 when exports increased by 63% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, South Korea (X tons) represented the main exporter of high-tenacity filament yarn of aramids, creating 62% of total exports. China (X tons) took an 18% share (based on physical terms) of total exports, which put it in second place, followed by Japan (9.9%) and Hong Kong SAR (5.8%). Pakistan (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to high-tenacity filament aramids yarn exports from South Korea stood at +11.4%. 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-Pacific, 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 ($X) remains the largest high-tenacity filament aramids yarn supplier in Asia-Pacific, comprising 61% of total exports. The second position in the ranking was held by China ($X), with a 19% share of total exports. It was followed by Japan, with a 12% 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-Pacific stood at $X per ton in 2022, rising by 2.7% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 11%. Over the period under review, the export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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-Pacific

High-tenacity filament aramids yarn imports dropped slightly to X tons in 2022, with a decrease of -1.8% compared with the year before. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% 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 -3.6% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 23% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, high-tenacity filament aramids yarn imports expanded modestly to $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +85.0% against 2013 indices. The most prominent rate of growth was recorded in 2019 with an increase of 25%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

China was the largest importing country with an import of about X tons, which reached 41% of total imports. It was distantly followed by India (X tons), Indonesia (X tons), Thailand (X tons) and Hong Kong SAR (X tons), together mixing up a 44% share of total imports. The following importers - Sri Lanka (X tons) and South Korea (X tons) - each amounted to a 5.8% 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, Sri Lanka (+29.4%), Indonesia (+27.1%), Thailand (+18.5%) and India (+9.9%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +29.4% from 2012-2022. South Korea experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-6.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, India, Thailand and Sri Lanka increased by +12, +5.5, +4.9 and +2.8 percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported high-tenacity filament yarn of aramids in Asia-Pacific, comprising 45% of total imports. The second position in the ranking was taken by India ($X), with a 14% share of total imports. It was followed by Indonesia, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +5.2%. In the other countries, the average annual rates were as follows: India (+14.6% per year) and Indonesia (+22.7% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, with an increase of 5.2% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 13% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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