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

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

In 2022, the Chinese high-tenacity filament aramids yarn market decreased by -1% to $X, falling for the second year in a row after five years of growth. Overall, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.3% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of High-Tenacity Filament Yarn Of Aramids in China

In value terms, high-tenacity filament aramids yarn production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.5% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 18%. 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 China

In 2022, exports of high-tenacity filament yarn of aramids from China soared to X tons, growing by 40% on 2021 figures. In general, exports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 126%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, high-tenacity filament aramids yarn exports soared to $X in 2022. Over the period under review, exports posted a resilient expansion. The growth pace was the most rapid in 2021 with an increase of 114% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

India (X tons), Russia (X tons) and Indonesia (X tons) were the main destinations of high-tenacity filament aramids yarn exports from China, with a combined 51% share of total exports. Israel, South Korea, Italy, Thailand, Vietnam, Tanzania, South Africa, Germany, Belgium and the United States lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Israel (with a CAGR of +466.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for high-tenacity filament aramids yarn exported from China were Russia ($X), India ($X) and Indonesia ($X), together comprising 51% of total exports. Israel, South Korea, Italy, Thailand, Vietnam, Germany, the United States, Belgium, South Africa and Tanzania lagged somewhat behind, together comprising a further 37%.

In terms of the main countries of destination, Israel, with a CAGR of +416.0%, 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, with an increase of 2.2% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 15%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports into China

In 2022, supplies from abroad of high-tenacity filament yarn of aramids decreased by -24.2% to X tons, falling for the second consecutive year after four years of growth. In general, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -35.7% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 44%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, high-tenacity filament aramids yarn imports shrank markedly to $X in 2022. Overall, imports, however, recorded a prominent increase. The growth pace was the most rapid in 2014 when imports increased by 26%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of high-tenacity filament aramids yarn to China, accounting for a 48% share of total imports. Moreover, high-tenacity filament aramids yarn imports from the Netherlands exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. The third position in this ranking was taken by the UK (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands amounted to +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+14.5% per year) and the UK (-0.4% per year).

In value terms, the largest high-tenacity filament aramids yarn suppliers to China were the Netherlands ($X), South Korea ($X) and the UK ($X), together accounting for 78% of total imports.

South Korea, with a CAGR of +15.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average high-tenacity filament aramids yarn import price stood at $X per ton in 2022, increasing by 5.8% against the previous year. Over the period under review, the import price continues to indicate a slight increase. The pace of growth appeared the most rapid in 2016 when the average import price increased by 22% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

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 Japan ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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