Ireland: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Ireland

In 2021, the Irish synthetic filament tow market decreased by -42.4% to $X, falling for the third consecutive year after three years of growth. In general, consumption recorded a abrupt shrinkage. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Synthetic Filament Tow Production in Ireland

In value terms, synthetic filament tow production stood at $X in 2021 estimated in export price. In general, production, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 7.7% against the previous year. Synthetic filament tow production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Synthetic Filament Tow Exports

Exports from Ireland

In 2021, overseas shipments of synthetic filament tow and staple fibers, not carded or combed increased by 11% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports recorded a relatively flat trend pattern. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic filament tow exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons), the UK (X tons) and Italy (X tons) were the main destinations of synthetic filament tow exports from Ireland, together accounting for 59% of total exports. These countries were followed by the Netherlands, the United States, France, Belgium and Poland, which together accounted for a further 26%.

From 2012 to 2021, the biggest increases were in Belgium (with a CAGR of +35.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for synthetic filament tow exports from Ireland, comprising 35% of total exports. The second position in the ranking was taken by the UK ($X), with a 14% 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 Germany totaled +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-8.8% per year) and the United States (-2.7% per year).

Export Prices by Country

The average synthetic filament tow export price stood at $X per ton in 2021, picking up by 18% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to the UK ($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 Germany (+0.7%), while the prices for the other major destinations experienced a decline.

Synthetic Filament Tow Imports

Imports into Ireland

Synthetic filament tow imports into Ireland surged to X tons in 2021, growing by 22% compared with the year before. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.0% 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 -12.0% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 63% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, synthetic filament tow imports surged to $X in 2021. In general, imports recorded a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Vietnam (X tons) constituted the largest supplier of synthetic filament tow to Ireland, with a 38% share of total imports. Moreover, synthetic filament tow imports from Vietnam exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Vietnam stood at +21.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+12.3% per year) and South Korea (+32.6% per year).

In value terms, the largest synthetic filament tow suppliers to Ireland were Vietnam ($X), Japan ($X) and China ($X), with a combined 57% share of total imports.

In terms of the main suppliers, Japan, with a CAGR of +37.4%, 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

The average synthetic filament tow import price stood at $X per ton in 2021, with an increase of 21% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable shrinkage. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 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 Japan ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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