India: Market for High-Tenacity Filament Yarn Of Aramids 2024

Market Size for High-Tenacity Filament Yarn Of Aramids in India

The Indian high-tenacity filament aramids yarn market declined rapidly to $X in 2022, falling by -27.6% against the previous year. Over the period under review, consumption, however, showed prominent growth. High-tenacity filament aramids yarn consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of High-Tenacity Filament Yarn Of Aramids in India

In value terms, high-tenacity filament aramids yarn production rose significantly to $X in 2022 estimated in export price. Overall, production, however, posted a moderate increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 54% against the previous year. High-tenacity filament aramids yarn production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports from India

In 2022, overseas shipments of high-tenacity filament yarn of aramids decreased by -16.8% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2016 with an increase of 2,517%. The exports peaked at X tons in 2021, and then declined dramatically in the following year.

In value terms, high-tenacity filament aramids yarn exports dropped sharply to $X in 2022. In general, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2016 with an increase of 3,531%. The exports peaked at $X in 2021, and then fell markedly in the following year.

Exports by Country

Belgium (X tons), Germany (X tons) and Nepal (X tons) were the main destinations of high-tenacity filament aramids yarn exports from India, together comprising 93% of total exports. Sri Lanka and the United Arab Emirates lagged somewhat behind, together comprising a further 2.8%.

From 2012 to 2022, the biggest increases were recorded for Sri Lanka (with a CAGR of +185.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Germany ($X) and Sri Lanka ($X) were the largest markets for high-tenacity filament aramids yarn exported from India worldwide, with a combined 82% share of total exports.

Sri Lanka, with a CAGR of +238.2%, saw the highest growth rate of the value of exports, in terms of 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 2022, the average high-tenacity filament aramids yarn export price amounted to $X per ton, shrinking by -27.6% against the previous year. Over the period under review, the export price, however, saw a pronounced increase. The most prominent rate of growth was recorded in 2013 an increase of 180% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Nepal ($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 South Korea (+24.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports into India

High-tenacity filament aramids yarn imports into India reached X tons in 2022, increasing by 8.9% on the previous year's figure. Overall, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 90% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, high-tenacity filament aramids yarn imports soared to $X in 2022. In general, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 120% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X tons), the Netherlands (X tons) and South Korea (X tons) were the main suppliers of high-tenacity filament aramids yarn imports to India, with a combined 86% share of total imports. Hong Kong SAR, the United States and the UK lagged somewhat behind, together comprising a further 10%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +58.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest high-tenacity filament aramids yarn suppliers to India were South Korea ($X), China ($X) and the Netherlands ($X), together accounting for 85% of total imports. Hong Kong SAR, the United States and the UK lagged somewhat behind, together comprising a further 11%.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of +48.2%, recorded 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 2022, the average high-tenacity filament aramids yarn import price amounted to $X per ton, increasing by 11% against the previous year. Over the period under review, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, high-tenacity filament aramids yarn import price increased by +63.6% against 2016 indices. The most prominent rate of growth was recorded in 2014 an increase of 22% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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