Belgium: Market for High-Tenacity Filament Yarn Of Aramids 2024

Market Size for High-Tenacity Filament Yarn Of Aramids in Belgium

The Belgian high-tenacity filament aramids yarn market soared to $X in 2022, picking up by 52% against the previous year. In general, consumption continues to indicate a significant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of High-Tenacity Filament Yarn Of Aramids in Belgium

In value terms, high-tenacity filament aramids yarn production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 182% against the previous year. High-tenacity filament aramids yarn production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports from Belgium

In 2022, after four years of growth, there was significant decline in overseas shipments of high-tenacity filament yarn of aramids, when their volume decreased by -62.3% to X tons. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 1,951%. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced rapidly in the following year.

In value terms, high-tenacity filament aramids yarn exports fell sharply to $X in 2022. Overall, exports, however, showed a significant increase. The growth pace was the most rapid in 2019 with an increase of 2,576% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped remarkably in the following year.

Exports by Country

Turkey (X tons), the United States (X tons) and the UK (X tons) were the main destinations of high-tenacity filament aramids yarn exports from Belgium, together accounting for 52% of total exports. China, Brazil, Hong Kong SAR, Mexico, Italy, the Czech Republic and the Netherlands lagged somewhat behind, together accounting for a further 38%.

From 2018 to 2022, the biggest increases were recorded for China (with a CAGR of +1,454.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United States ($X) and the UK ($X) constituted the largest markets for high-tenacity filament aramids yarn exported from Belgium worldwide, with a combined 56% share of total exports. China, Brazil, Hong Kong SAR, Mexico, Italy, the Czech Republic and the Netherlands lagged somewhat behind, together comprising a further 34%.

In terms of the main countries of destination, China, with a CAGR of +1,469.6%, saw 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 2022, the average high-tenacity filament aramids yarn export price amounted to $X per ton, growing by 27% against the previous year. Over the period from 2018 to 2022, it increased at an average annual rate of +6.4%. The growth pace was the most rapid in 2019 an increase of 30% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2018 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+63.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports into Belgium

In 2022, supplies from abroad of high-tenacity filament yarn of aramids decreased by -59.2% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, showed a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 1,057% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, high-tenacity filament aramids yarn imports shrank significantly to $X in 2022. In general, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 1,429% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of high-tenacity filament aramids yarn to Belgium, accounting for a 56% share of total imports. Moreover, high-tenacity filament aramids yarn imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. India (X tons) ranked third in terms of total imports with a 9.5% share.

From 2018 to 2022, the average annual growth rate of volume from the United States amounted to +78.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+41.5% per year) and India (+496.8% per year).

In value terms, the United States ($X) constituted the largest supplier of high-tenacity filament yarn of aramids to Belgium, comprising 82% of total imports. The second position in the ranking was taken by South Korea ($X), with a 5% share of total imports. It was followed by Spain, with a 4.6% share.

From 2018 to 2022, the average annual rate of growth in terms of value from the United States amounted to +136.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+137.5% per year) and Spain (-31.3% per year).

Import Prices by Country

The average high-tenacity filament aramids yarn import price stood at $X per ton in 2022, picking up by 21% against the previous year. Over the period under review, the import price enjoyed prominent growth. The pace of growth was the most pronounced in 2020 when the average import price increased by 32% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2018 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+32.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :