India: Artificial Staple Fibre Market 2024

Artificial Staple Fibre Market Size in India

The Indian artificial staple fibre market dropped to $X in 2021, which is down by -6.2% against the previous year. In general, consumption recorded a noticeable contraction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Artificial Staple Fibre Production in India

In value terms, artificial staple fibre production dropped to $X in 2021 estimated in export price. Over the period under review, production saw a perceptible setback. The pace of growth was the most pronounced in 2014 when the production volume increased by 30%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Artificial Staple Fibre Exports

Exports from India

Artificial staple fibre exports from India soared to X tons in 2021, increasing by 569% compared with 2020 figures. Over the period under review, exports showed a significant increase. The growth pace was the most rapid in 2013 when exports increased by 4,427%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, artificial staple fibre exports skyrocketed to $X in 2021. Overall, exports posted significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 1,847% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Nepal (X tons) was the main destination for artificial staple fibre exports from India, accounting for a 67% share of total exports. Moreover, artificial staple fibre exports to Nepal exceeded the volume sent to the second major destination, the United States (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Nepal amounted to -15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+103.1% per year) and Bangladesh (+19.3% per year).

In value terms, the United States ($X) emerged as the key foreign market for artificial staple fibres exports from India, comprising 71% of total exports. The second position in the ranking was taken by Nepal ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +113.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (-15.4% per year) and Bangladesh (+29.5% per year).

Export Prices by Country

In 2021, the average artificial staple fibre export price amounted to $X per ton, jumping by 161% against the previous year. Overall, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Nepal ($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 Bangladesh (+8.6%), while the prices for the other major destinations experienced mixed trend patterns.

Artificial Staple Fibre Imports

Imports into India

In 2021, approx. X tons of artificial staple fibres were imported into India; growing by 14% against 2020. Overall, imports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2016 with an increase of 60% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, artificial staple fibre imports reached $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt contraction. The growth pace was the most rapid in 2016 with an increase of 101%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of artificial staple fibre to India, accounting for a 62% share of total imports. Moreover, artificial staple fibre imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. China (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at -6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+2.3% per year) and China (-29.0% per year).

In value terms, Germany ($X) constituted the largest supplier of artificial staple fibres to India, comprising 68% of total imports. The second position in the ranking was taken by Italy ($X), with a 17% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.1% per year) and China (-23.1% per year).

Import Prices by Country

In 2021, the average artificial staple fibre import price amounted to $X per ton, with a decrease of -8.6% against the previous year. Over the period under review, import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, artificial staple fibre import price decreased by -16.8% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 29%. As a result, import price attained the peak level of $X per ton. From 2020 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, the country with the highest price was the United States ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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