India: Man-Made Filament Yarn Market 2024

Man-Made Filament Yarn Market Size in India

In 2021, after seven years of growth, there was significant decline in the Indian man-made filament yarn market, when its value decreased by -24.5% to $X. Overall, consumption, however, saw a remarkable increase. Over the period under review, the market hit record highs at $X in 2020, and then dropped rapidly in the following year.

Man-Made Filament Yarn Production in India

In value terms, man-made filament yarn production contracted to $X in 2021 estimated in export price. In general, production, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by 126%. Man-made filament yarn production peaked at $X in 2020, and then dropped in the following year.

Man-Made Filament Yarn Exports

Exports from India

In 2021, exports of man-made filament yarn from India soared to X tons, with an increase of 38% against the year before. In general, exports posted a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by 40% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, man-made filament yarn exports skyrocketed to $X in 2021. Overall, exports showed a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) was the main destination for man-made filament yarn exports from India, with a 30% share of total exports. Moreover, man-made filament yarn exports to Turkey exceeded the volume sent to the second major destination, Belgium (X tons), twofold. The United States (X tons) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey amounted to +14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+81.9% per year) and the United States (+51.0% per year).

In value terms, Turkey ($X) remains the key foreign market for man-made filament yarn exports from India, comprising 27% of total exports. The second position in the ranking was held by Belgium ($X), with a 12% share of total exports. It was followed by the United States, with an 8% share.

From 2012 to 2021, the average annual growth rate of value to Turkey totaled +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+79.9% per year) and the United States (+53.6% per year).

Export Prices by Country

In 2021, the average man-made filament yarn export price amounted to $X per ton, rising by 5.8% against the previous year. Over the period under review, the export price, however, recorded a pronounced curtailment. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Jordan ($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 the United States (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Man-Made Filament Yarn Imports

Imports into India

In 2021, approx. X tons of man-made filament yarn were imported into India; jumping by 79% against the previous year. In general, total imports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +81.6% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, man-made filament yarn imports surged to $X in 2021. Overall, imports recorded a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Japan (X tons) and the United Arab Emirates (X tons) were the main suppliers of man-made filament yarn imports to India, with a combined 72% share of total imports. Germany, the Czech Republic and Bulgaria lagged somewhat behind, together comprising a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +78.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of man-made filament yarn to India, comprising 53% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 17% share of total imports. It was followed by China, with a 17% share.

From 2012 to 2021, the average annual growth rate of value from Japan totaled -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+58.1% per year) and China (+5.6% per year).

Import Prices by Country

In 2021, the average man-made filament yarn import price amounted to $X per ton, with a decrease of -12% against the previous year. Over the period under review, the import price saw a noticeable decrease. The growth pace was the most rapid in 2018 an increase of 13% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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