Kenya: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Kenya

The Kenyan synthetic filament tow market skyrocketed to $X in 2021, jumping by 28% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a resilient expansion. Synthetic filament tow consumption peaked in 2021 and is expected to retain growth in years to come.

Synthetic Filament Tow Exports

Exports from Kenya

After two years of decline, shipments abroad of synthetic filament tow and staple fibers, not carded or combed increased by 74% to X tons in 2021. Overall, exports recorded a strong expansion. The growth pace was the most rapid in 2016 with an increase of 324% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, synthetic filament tow exports soared to $X in 2021. Over the period under review, exports posted a prominent expansion. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for synthetic filament tow exports from Kenya, accounting for a 61% share of total exports. Moreover, synthetic filament tow exports to Saudi Arabia exceeded the volume sent to the second major destination, Zambia (X tons), threefold. The third position in this ranking was taken by Tanzania (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Saudi Arabia stood at +18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zambia (+21.8% per year) and Tanzania (+16.2% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for synthetic filament tow exports from Kenya, comprising 40% of total exports. The second position in the ranking was held by Zambia ($X), with a 19% share of total exports. It was followed by Tanzania, with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Saudi Arabia totaled +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zambia (+25.3% per year) and Tanzania (+34.7% per year).

Export Prices by Country

In 2021, the average synthetic filament tow export price amounted to $X per ton, surging by 89% against the previous year. Over the period under review, the export price continues to indicate a perceptible expansion. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Tanzania ($X per ton), while the average price for exports to Togo ($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 Tanzania (+15.9%), while the prices for the other major destinations experienced mixed trend patterns.

Synthetic Filament Tow Imports

Imports into Kenya

In 2021, approx. X tons of synthetic filament tow and staple fibers, not carded or combed were imported into Kenya; increasing by 18% on the previous year. In general, imports posted a strong expansion. The growth pace was the most rapid in 2016 with an increase of 100% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, synthetic filament tow imports soared to $X in 2021. Overall, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 125% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, South Korea (X tons) constituted the largest synthetic filament tow supplier to Kenya, with a 33% share of total imports. Moreover, synthetic filament tow imports from South Korea exceeded the figures recorded by the second-largest supplier, South Africa (X tons), twofold. Japan (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea amounted to +28.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+9.8% per year) and Japan (+7.3% per year).

In value terms, the largest synthetic filament tow suppliers to Kenya were South Korea ($X), Japan ($X) and South Africa ($X), with a combined 70% share of total imports. These countries were followed by China, Portugal, India, Tanzania and Morocco, which together accounted for a further 19%.

Tanzania, with a CAGR of +66.5%, saw 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

In 2021, the average synthetic filament tow import price amounted to $X per ton, increasing by 10% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 12%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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