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

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

In 2021, the Asia-Pacific high-tenacity filament polyester yarn market decreased by -1.5% to $X, falling for the third consecutive year after two years of growth. In general, consumption continues to indicate a perceptible decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, high-tenacity filament polyester yarn production rose notably to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 19% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of High-Tenacity Filament Yarn Of Polyesters

Exports in Asia-Pacific

In 2021, overseas shipments of high-tenacity filament yarn of polyesters increased by 24% to X tons for the first time since 2018, thus ending a two-year declining trend. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, high-tenacity filament polyester yarn exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.9% over the period 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 dominates exports structure, resulting at X tons, which was approx. 75% of total exports in 2021. It was distantly followed by South Korea (X tons) and Taiwan (Chinese) (X tons), together committing a 15% share of total exports. The following exporters - Indonesia (X tons), Vietnam (X tons), Thailand (X tons) and India (X tons) - together made up 8.3% of total exports.

From 2012 to 2021, average annual rates of growth with regard to high-tenacity filament polyester yarn exports from China stood at +9.2%. 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-Pacific, with a CAGR of +25.1% from 2012-2021. By contrast, South Korea (-1.4%) illustrated a downward trend over the same period. While the share of China (+9.9 p.p.) and Indonesia (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-4.4 p.p.) and South Korea (-9.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest high-tenacity filament polyester yarn supplier in Asia-Pacific, comprising 67% of total exports. The second position in the ranking was taken by South Korea ($X), with a 10% share of total exports. It was followed by Taiwan (Chinese), with an 8.4% share.

In China, high-tenacity filament polyester yarn exports expanded at an average annual rate of +4.2% over the period from 2012-2021. 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-Pacific amounted to $X per ton, increasing by 9.3% against the previous year. In general, the export price, however, continues to indicate a noticeable setback. The growth pace was the most rapid in 2018 an increase of 14%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: 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-Pacific

In 2021, high-tenacity filament polyester yarn imports in Asia-Pacific soared to X tons, surging by 45% compared with the previous year's figure. In general, imports enjoyed a resilient expansion. As a result, imports attained 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 a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons), India (X tons) and China (X tons) represented roughly 54% of total imports in 2021. Thailand (X tons) held an 8.4% share (based on physical terms) of total imports, which put it in second place, followed by Japan (7.8%), Vietnam (7.2%), Indonesia (5.4%), the Philippines (4.6%) and Taiwan (Chinese) (4.5%). Bangladesh (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, the largest high-tenacity filament polyester yarn importing markets in Asia-Pacific were China ($X), India ($X) and South Korea ($X), with a combined 50% share of total imports. Japan, Thailand, Vietnam, the Philippines, Indonesia, Taiwan (Chinese) and Bangladesh lagged somewhat behind, together comprising a further 43%.

Vietnam, with a CAGR of +21.9%, recorded the highest rates of growth with regard to the value of imports, in terms of 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-Pacific stood at $X per ton in 2021, increasing by 1.6% against the previous year. Over the period under review, the import price, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2018 when the import price increased by 13% against the previous year. Over the period under review, import prices attained the peak figure 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 Taiwan (Chinese) (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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