Asia-Pacific: Man-Made Filament Yarn Market 2024

Man-Made Filament Yarn Market Size in Asia-Pacific

In 2021, the Asia-Pacific man-made filament yarn market decreased by -7.9% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 7.7%. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Man-Made Filament Yarn Production in Asia-Pacific

In value terms, man-made filament yarn production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the production volume increased by 7.9% against the previous year. The level of production peaked at $X in 2019; afterwards, it flattened through to 2021.

Man-Made Filament Yarn Exports

Exports in Asia-Pacific

Man-made filament yarn exports skyrocketed to X tons in 2021, with an increase of 33% against the previous year's figure. Total exports indicated a remarkable increase 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. Based on 2021 figures, exports increased by +67.0% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, man-made filament yarn exports soared to $X in 2021. The total export value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern 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.

Exports by Country

China represented the main exporter of man-made filament yarn in Asia-Pacific, with the volume of exports recording X tons, which was near 60% of total exports in 2021. It was distantly followed by India (X tons), generating a 26% share of total exports. The following exporters - Pakistan (X tons), Taiwan (Chinese) (X tons), Indonesia (X tons), Thailand (X tons) and South Korea (X tons) - together made up 10% of total exports.

From 2012 to 2021, average annual rates of growth with regard to man-made filament yarn exports from China stood at +5.6%. At the same time, Pakistan (+35.0%), India (+18.4%) and Thailand (+8.9%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +35.0% from 2012-2021. By contrast, Indonesia (-1.4%), South Korea (-6.7%) and Taiwan (Chinese) (-11.5%) illustrated a downward trend over the same period. India (+17 p.p.) and Pakistan (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia, South Korea and Taiwan (Chinese) saw its share reduced by -1.8%, -3% and -8.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest man-made filament yarn supplier in Asia-Pacific, comprising 64% of total exports. The second position in the ranking was held by India ($X), with a 19% share of total exports. It was followed by Indonesia, with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +5.1%. In the other countries, the average annual rates were as follows: India (+14.0% per year) and Indonesia (-1.2% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, increasing by 6.7% against the previous year. Over the period under review, the export price, however, recorded a slight shrinkage. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while Pakistan ($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) (+2.2%), while the other leaders experienced mixed trends in the export price figures.

Man-Made Filament Yarn Imports

Imports in Asia-Pacific

In 2021, purchases abroad of man-made filament yarn was finally on the rise to reach X tons after two years of decline. Over the period under review, imports saw a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, man-made filament yarn imports skyrocketed to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Vietnam (X tons), distantly followed by India (X tons), China (X tons), Indonesia (X tons), Bangladesh (X tons), the Philippines (X tons), Thailand (X tons) and Pakistan (X tons) represented the key importers of man-made filament yarn, together constituting 83% of total imports. South Korea (X tons) followed a long way behind the leaders.

Imports into Vietnam increased at an average annual rate of +13.8% from 2012 to 2021. At the same time, Bangladesh (+16.6%), Pakistan (+4.7%) and India (+4.5%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +16.6% from 2012-2021. Indonesia and South Korea experienced a relatively flat trend pattern. By contrast, China (-3.3%), Thailand (-3.9%) and the Philippines (-12.2%) illustrated a downward trend over the same period. While the share of Vietnam (+17 p.p.), Bangladesh (+7.1 p.p.) and India (+3.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Thailand (-2.6 p.p.), China (-4 p.p.) and the Philippines (-14.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Vietnam ($X) and China ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 49% of total imports. These countries were followed by Bangladesh, Indonesia, Thailand, the Philippines, South Korea and Pakistan, which together accounted for a further 35%.

Among the main importing countries, Bangladesh, with a CAGR of +18.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, with an increase of 3.4% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 5.3%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was India ($X per ton), while Pakistan ($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 (+11.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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