China: Man-Made Filament Yarn Market 2024

Man-Made Filament Yarn Market Size in China

The Chinese man-made filament yarn market reduced remarkably to $X in 2021, with a decrease of -24.8% against the previous year. Over the period under review, consumption saw a noticeable curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 7.7% against the previous year. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Man-Made Filament Yarn Production in China

In value terms, man-made filament yarn production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2016 with an increase of 15% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Man-Made Filament Yarn Exports

Exports from China

In 2021, the amount of man-made filament yarn exported from China soared to X tons, picking up by 35% on the previous year's figure. Overall, total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +77.6% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, man-made filament yarn exports surged to $X in 2021. Over the period under review, total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X tons) was the main destination for man-made filament yarn exports from China, accounting for a 18% share of total exports. Moreover, man-made filament yarn exports to Vietnam exceeded the volume sent to the second major destination, India (X tons), threefold. The third position in this ranking was held by Bangladesh (X tons), with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam amounted to +23.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-1.6% per year) and Bangladesh (+26.5% per year).

In value terms, Vietnam ($X) remains the key foreign market for man-made filament yarn exports from China, comprising 16% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 6.5% share of total exports. It was followed by India, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam totaled +25.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+13.9% per year) and India (-4.5% per year).

Export Prices by Country

In 2021, the average man-made filament yarn export price amounted to $X per ton, surging by 12% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 14% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Djibouti ($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 Indonesia (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Man-Made Filament Yarn Imports

Imports into China

In 2021, overseas purchases of man-made filament yarn increased by 41% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, continue to indicate a noticeable reduction. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, man-made filament yarn imports soared to $X in 2021. In general, imports, however, continue to indicate a abrupt slump. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), Thailand (X tons) and Italy (X tons) were the main suppliers of man-made filament yarn imports to China, together accounting for 44% of total imports. These countries were followed by Malaysia, Indonesia, South Korea, India, Vietnam, the United States and Germany, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +18.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of man-made filament yarn to China, comprising 22% of total imports. The second position in the ranking was held by Italy ($X), with a 10% share of total imports. It was followed by Thailand, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value from Japan stood at -10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+1.6% per year) and Thailand (+0.0% per year).

Import Prices by Country

The average man-made filament yarn import price stood at $X per ton in 2021, remaining stable against the previous year. In general, the import price, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2014 an increase of 2.8%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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