India: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in India

After two years of growth, the Indian synthetic filament tow market decreased by -29.6% to $X in 2021. Overall, consumption recorded a deep setback. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Synthetic Filament Tow Production in India

In value terms, synthetic filament tow production totaled $X in 2021 estimated in export price. In general, production continues to indicate a noticeable setback. The most prominent rate of growth was recorded in 2015 when the production volume increased by 80%. Synthetic filament tow production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Synthetic Filament Tow Exports

Exports from India

In 2021, overseas shipments of synthetic filament tow and staple fibers, not carded or combed increased by 26% to X tons, rising for the sixth year in a row after two years of decline. Overall, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +9.3% 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 +86.9% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 38%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, synthetic filament tow exports skyrocketed to $X in 2021. Over the period under review, total exports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% 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

The United States (X tons), Turkey (X tons) and Nepal (X tons) were the main destinations of synthetic filament tow exports from India, with a combined 39% share of total exports. Bangladesh, Mexico, Egypt, Belgium, Spain, Brazil, Germany, Russia, Italy and Peru lagged somewhat behind, together comprising a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of +61.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Turkey ($X) and Nepal ($X) constituted the largest markets for synthetic filament tow exported from India worldwide, with a combined 39% share of total exports. These countries were followed by Mexico, Bangladesh, Egypt, Belgium, Spain, Brazil, Germany, Russia, Italy and Peru, which together accounted for a further 39%.

Brazil, with a CAGR of +53.5%, recorded the highest rates of growth with regard to the value of exports, among 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 2021, the average synthetic filament tow export price amounted to $X per ton, surging by 30% against the previous year. Overall, the export price, however, saw a perceptible decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, the highest price was recorded for prices to the United States ($X per ton) and Russia ($X per ton), while the average price for exports to Peru ($X per ton) and Bangladesh ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (-0.3%), while the prices for the other major destinations experienced a decline.

Synthetic Filament Tow Imports

Imports into India

In 2021, the amount of synthetic filament tow and staple fibers, not carded or combed imported into India expanded slightly to X tons, surging by 2.2% against 2020 figures. Overall, imports recorded strong growth. The growth pace was the most rapid in 2013 with an increase of 40% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, synthetic filament tow imports skyrocketed to $X in 2021. In general, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -14.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 35%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Thailand (X tons) and South Korea (X tons) were the main suppliers of synthetic filament tow imports to India, together comprising 60% of total imports. Indonesia, Germany, Malaysia, Turkey, Japan, Taiwan (Chinese), Vietnam, Peru and Belarus lagged somewhat behind, together comprising a further 35%.

From 2012 to 2021, the biggest increases were in Turkey (with a CAGR of +102.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic filament tow suppliers to India were China ($X), Thailand ($X) and South Korea ($X), with a combined 55% share of total imports. Germany, Japan, Indonesia, Turkey, Taiwan (Chinese), Malaysia, Peru, Vietnam and Belarus lagged somewhat behind, together comprising a further 36%.

Turkey, with a CAGR of +99.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average synthetic filament tow import price stood at $X per ton in 2021, picking up by 29% against the previous year. Over the period under review, the import price, however, recorded a perceptible curtailment. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Germany ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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