Belgium: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Belgium

The Belgian synthetic filament tow market skyrocketed to $X in 2021, growing by 17% against the previous year. Overall, consumption continues to indicate a resilient expansion. Synthetic filament tow consumption peaked in 2021 and is expected to retain growth in the immediate term.

Synthetic Filament Tow Production in Belgium

In value terms, synthetic filament tow production expanded markedly to $X in 2021 estimated in export price. Overall, production, however, showed a sharp shrinkage. Synthetic filament tow production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Synthetic Filament Tow Exports

Exports from Belgium

In 2021, shipments abroad of synthetic filament tow and staple fibers, not carded or combed increased by 16% to X tons, rising for the second consecutive year after six years of decline. Overall, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, synthetic filament tow exports soared to $X in 2021. In general, total exports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +87.2% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), Italy (X tons) and France (X tons) were the main destinations of synthetic filament tow exports from Belgium, together accounting for 50% of total exports. The Netherlands, the United States, Canada, the UK, the Czech Republic, Turkey, Poland and Spain lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the biggest increases were in the United States (with a CAGR of +43.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and France ($X) were the largest markets for synthetic filament tow exported from Belgium worldwide, with a combined 45% share of total exports. These countries were followed by Canada, the Netherlands, Turkey, the United States, the UK, the Czech Republic, Poland and Spain, which together accounted for a further 32%.

In terms of the main countries of destination, Turkey, with a CAGR of +36.4%, recorded the highest growth rate of 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

The average synthetic filament tow export price stood at $X per ton in 2021, with an increase of 32% against the previous year. Overall, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, synthetic filament tow export price increased by +76.8% against 2016 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Turkey ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Filament Tow Imports

Imports into Belgium

In 2021, purchases abroad of synthetic filament tow and staple fibers, not carded or combed increased by 15% to X tons, rising for the third year in a row after two years of decline. In general, total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +61.1% against 2018 indices. The pace of growth appeared the most rapid in 2020 with an increase of 37% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, synthetic filament tow imports soared to $X in 2021. Over the period under review, imports showed a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of 69% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Spain (X tons), South Korea (X tons) and India (X tons) were the main suppliers of synthetic filament tow imports to Belgium, together comprising 47% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +64.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of synthetic filament tow to Belgium, comprising 36% of total imports. The second position in the ranking was taken by South Korea ($X), with a 9.5% share of total imports. It was followed by France, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +78.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-2.8% per year) and France (+13.8% per year).

Import Prices by Country

In 2021, the average synthetic filament tow import price amounted to $X per ton, rising by 20% against the previous year. Over the period under review, import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +2.8% 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 import price increased by +83.5% against 2016 indices. The most prominent rate of growth was recorded in 2020 an increase of 23%. The import price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was France ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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