China: Synthetic Yarn Market 2024

Synthetic Yarn Market Size in China

The Chinese synthetic yarn market dropped rapidly to $X in 2022, which is down by X% against the previous year. Overall, consumption showed a abrupt contraction. Synthetic yarn consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Synthetic Yarn Production in China

In value terms, synthetic yarn production fell slightly to $X in 2022 estimated in export price. Overall, production recorded a slight decline. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Synthetic Yarn Exports

Exports from China

In 2022, exports of yarn of synthetic or artificial staple fibers from China totaled X tons, with an increase of X% against 2021 figures. Overall, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, synthetic yarn exports amounted to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Bangladesh (X tons), Brazil (X tons) and India (X tons) were the main destinations of synthetic yarn exports from China, with a combined X% share of total exports. Egypt, Vietnam, Mexico, Indonesia, Pakistan, South Korea, Turkey, Cambodia and Jordan lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Jordan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X) remains the key foreign market for yarn of synthetic or artificial staple fibers exports from China, comprising X% of total exports. The second position in the ranking was held by India ($X), with an X% share of total exports. It was followed by Brazil, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Bangladesh totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Brazil (X% per year).

Export Prices by Country

The average synthetic yarn export price stood at $X per ton in 2022, almost unchanged from the previous year. Over the period under review, the export price saw a noticeable downturn. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Jordan ($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 Hong Kong SAR (X%), while the prices for the other major destinations experienced a decline.

Synthetic Yarn Imports

Imports into China

In 2022, purchases abroad of yarn of synthetic or artificial staple fibers was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, synthetic yarn imports surged to $X in 2022. In general, imports, however, showed a deep reduction. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Indonesia (X tons), Vietnam (X tons) and Cambodia (X tons) were the main suppliers of synthetic yarn imports to China, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Cambodia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic yarn suppliers to China were Indonesia ($X), Vietnam ($X) and Japan ($X), together accounting for X% of total imports. Italy, India, South Korea and Cambodia lagged somewhat behind, together comprising a further X%.

Cambodia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average synthetic yarn import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price, however, saw a noticeable descent. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Cambodia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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