Azerbaijan: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Azerbaijan

The Azerbaijani synthetic filament tow market surged to $X in 2021, with an increase of 19% against the previous year. The market value increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Synthetic Filament Tow Production in Azerbaijan

In value terms, synthetic filament tow production skyrocketed to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Synthetic filament tow production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Synthetic Filament Tow Exports

Exports from Azerbaijan

In 2021, shipments abroad of synthetic filament tow and staple fibers, not carded or combed was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, continue to indicate a significant contraction. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic filament tow exports surged to $X in 2021. Overall, exports, however, saw a abrupt shrinkage. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Iran (X tons) was the main destination for synthetic filament tow exports from Azerbaijan, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Iran stood at -21.3%.

In value terms, Iran ($X) also remains the key foreign market for synthetic filament tow exports from Azerbaijan.

From 2012 to 2021, the average annual growth rate of value to Iran amounted to -17.8%.

Export Prices by Country

In 2021, the average synthetic filament tow export price amounted to $X per ton, increasing by 4.1% against the previous year. Overall, export price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, synthetic filament tow export price decreased by -2.0% against 2019 indices. The growth pace was the most rapid in 2018 an increase of 41%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; afterwards, it flattened through to 2021.

As there is only one major export destination, the average price level is determined by prices for Iran.

From 2012 to 2021, the rate of growth in terms of prices for Iran amounted to +4.4% per year.

Synthetic Filament Tow Imports

Imports into Azerbaijan

For the fourth year in a row, Azerbaijan recorded growth in supplies from abroad of synthetic filament tow and staple fibers, not carded or combed, which increased by 25% to X tons in 2021. In general, imports continue to indicate a remarkable increase. The growth pace was the most rapid in 2018 with an increase of 81% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, synthetic filament tow imports skyrocketed to $X in 2021. Overall, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2018 with an increase of 82% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Iran (X tons) constituted the largest supplier of synthetic filament tow to Azerbaijan, with a 79% share of total imports. Moreover, synthetic filament tow imports from Iran exceeded the figures recorded by the second-largest supplier, China (X tons), sevenfold. The third position in this ranking was taken by Turkey (X tons), with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Iran amounted to +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+17.4% per year) and Turkey (+9.8% per year).

In value terms, Iran ($X) constituted the largest supplier of synthetic filament tow to Azerbaijan, comprising 74% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by Turkey, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value from Iran totaled +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.0% per year) and Turkey (+2.9% per year).

Import Prices by Country

The average synthetic filament tow import price stood at $X per ton in 2021, declining by -3.8% against the previous year. Overall, the import price recorded a abrupt decline. The most prominent rate of growth was recorded in 2017 an increase of 5.9%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from Taiwan (Chinese) ($X per ton) and Turkey ($X per ton), while the price for Iran ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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