Eastern Asia: Market for High-Tenacity Filament Yarn Of Aramids 2024

Market Size for High-Tenacity Filament Yarn Of Aramids in Eastern Asia

In 2022, the East Asian high-tenacity filament aramids yarn market decreased by -1% to $X, falling for the second year in a row after five years of growth. The total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 -3.9% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of High-Tenacity Filament Yarn Of Aramids in Eastern Asia

In value terms, high-tenacity filament aramids yarn production stood at $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 -0.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 18%. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports in Eastern Asia

High-tenacity filament aramids yarn exports reached X tons in 2022, increasing by 8.6% against 2021 figures. In general, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 60% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, high-tenacity filament aramids yarn exports rose markedly to $X in 2022. Overall, exports showed a prominent increase. The pace of growth appeared the most rapid in 2021 when exports increased by 63% against the previous year. 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

South Korea was the key exporting country with an export of around X tons, which recorded 64% of total exports. China (X tons) ranks second in terms of the total exports with an 18% share, followed by Japan (10%) and Hong Kong SAR (6%).

Exports from South Korea increased at an average annual rate of +11.4% from 2012 to 2022. At the same time, China (+17.3%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +17.3% from 2012-2022. By contrast, Japan (-2.8%) and Hong Kong SAR (-5.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea and China increased by +22 and +11 percentage points, respectively.

In value terms, South Korea ($X) remains the largest high-tenacity filament aramids yarn supplier in Eastern Asia, comprising 61% of total exports. The second position in the ranking was held by China ($X), with a 19% share of total exports. It was followed by Japan, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in South Korea amounted to +11.9%. In the other countries, the average annual rates were as follows: China (+16.4% per year) and Japan (-2.6% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, rising by 3.8% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the export price increased by 11%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Hong Kong SAR ($X per ton) and Japan ($X per ton), while South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+1.1%), while the other leaders experienced more modest paces of growth.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports in Eastern Asia

In 2022, imports of high-tenacity filament yarn of aramids in Eastern Asia shrank markedly to X tons, with a decrease of -22.2% on 2021. Total imports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.7% 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 -30.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 28%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, high-tenacity filament aramids yarn imports reduced notably to $X in 2022. Total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.2% 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 -23.4% against 2020 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 23%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

China represented the main importer of high-tenacity filament yarn of aramids in Eastern Asia, with the volume of imports recording X tons, which was near 76% of total imports in 2022. Hong Kong SAR (X tons) ranks second in terms of the total imports with an 11% share, followed by South Korea (4.7%). The following importers - Japan (X tons) and Taiwan (Chinese) (X tons) - each reached a 7.9% share of total imports.

China was also the fastest-growing in terms of the high-tenacity filament yarn of aramids imports, with a CAGR of +4.2% from 2012 to 2022. Japan and South Korea experienced a relatively flat trend pattern. Taiwan (Chinese) (-2.0%) and Hong Kong SAR (-6.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +16 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported high-tenacity filament yarn of aramids in Eastern Asia, comprising 77% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 10% share of total imports. It was followed by South Korea, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +5.2%. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (-6.3% per year) and South Korea (-1.0% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, increasing by 5.7% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 16%. Over the period under review, import prices attained the maximum in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and South Korea ($X per ton), while Japan ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :