China: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in China

The Chinese synthetic filament tow market fell to $X in 2021, dropping by -7.9% against the previous year. Overall, the total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -18.4% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Synthetic Filament Tow Production in China

In value terms, synthetic filament tow production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 19%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Synthetic Filament Tow Exports

Exports from China

In 2021, the amount of synthetic filament tow and staple fibers, not carded or combed exported from China soared to X tons, picking up by 17% on 2020 figures. The total export volume increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 27% against the previous year. As a result, the exports attained the peak of X tons; afterwards, it flattened through to 2021.

In value terms, synthetic filament tow exports surged to $X in 2021. The total export value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), Pakistan (X tons) and Indonesia (X tons) were the main destinations of synthetic filament tow exports from China, with a combined 36% share of total exports.

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +20.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Pakistan ($X) and Indonesia ($X) were the largest markets for synthetic filament tow exported from China worldwide, with a combined 31% share of total exports.

Vietnam, with a CAGR of +16.1%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average synthetic filament tow export price amounted to $X per ton, with an increase of 20% against the previous year. Over the period under review, the export price, however, showed a perceptible decrease. The most prominent rate of growth was recorded in 2018 an increase of 48% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Thailand ($X per ton), while the average price for exports to the United States ($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 (-0.3%), while the prices for the other major destinations experienced a decline.

Synthetic Filament Tow Imports

Imports into China

In 2021, supplies from abroad of synthetic filament tow and staple fibers, not carded or combed decreased by -9.3% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports, however, continue to indicate modest growth. The most prominent rate of growth was recorded in 2017 with an increase of 23% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, synthetic filament tow imports amounted to $X in 2021. In general, imports continue to indicate a pronounced descent. The pace of growth was the most pronounced in 2017 with an increase of 25% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons) were the main suppliers of synthetic filament tow imports to China, with a combined 59% share of total imports. These countries were followed by Japan, Vietnam, the United States, Germany, Malaysia and Turkey, which together accounted for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +84.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic filament tow suppliers to China were Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X), together comprising 59% of total imports. Thailand, Germany, the United States, Turkey, Vietnam and Malaysia lagged somewhat behind, together accounting for a further 29%.

Among the main suppliers, Vietnam, with a CAGR of +68.7%, saw 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 average synthetic filament tow import price amounted to $X per ton, with an increase of 12% against the previous year. In general, the import price, however, saw a perceptible shrinkage. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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