Latin America and the Caribbean: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Latin America and the Caribbean

The Latin American synthetic filament tow market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Synthetic Filament Tow Production in Latin America and the Caribbean

In value terms, synthetic filament tow production contracted modestly to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by 31% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Synthetic Filament Tow Exports

Exports in Latin America and the Caribbean

In 2021, approx. X tons of synthetic filament tow and staple fibers, not carded or combed were exported in Latin America and the Caribbean; with a decrease of -2.8% compared with the previous year's figure. Over the period under review, exports recorded a noticeable decrease. The most prominent rate of growth was recorded in 2017 with an increase of 25% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic filament tow exports rose markedly to $X in 2021. In general, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 22%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Mexico (X tons), distantly followed by Peru (X tons), Argentina (X tons), Honduras (X tons), Colombia (X tons) and Brazil (X tons) were the key exporters of synthetic filament tow and staple fibers, not carded or combed, together committing 96% of total exports. Guatemala (X tons) took a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Argentina (with a CAGR of +42.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic filament tow supplying countries in Latin America and the Caribbean were Mexico ($X), Peru ($X) and Brazil ($X), together comprising 72% of total exports. These countries were followed by Argentina, Honduras, Colombia and Guatemala, which together accounted for a further 25%.

Argentina, with a CAGR of +28.6%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, growing by 8.5% against the previous year. In general, the export price, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2013 when the export price increased by 17%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (-0.1%), while the other leaders experienced a decline in the export price figures.

Synthetic Filament Tow Imports

Imports in Latin America and the Caribbean

In 2021, purchases abroad of synthetic filament tow and staple fibers, not carded or combed was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, synthetic filament tow imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil represented the main importing country with an import of about X tons, which amounted to 42% of total imports. Peru (X tons) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (7.5%), Argentina (7.3%), Mexico (6.4%), Chile (5.6%) and Guatemala (5.1%).

Brazil was also the fastest-growing in terms of the synthetic filament tow and staple fibers, not carded or combed imports, with a CAGR of +12.1% from 2012 to 2021. At the same time, Guatemala (+8.7%), Chile (+4.8%), Peru (+4.3%), Argentina (+3.9%) and Colombia (+2.6%) displayed positive paces of growth. By contrast, Mexico (-12.4%) illustrated a downward trend over the same period. While the share of Brazil (+21 p.p.) and Guatemala (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mexico (-23 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Mexico ($X) and Peru ($X) constituted the countries with the highest levels of imports in 2021, together comprising 68% of total imports.

Among the main importing countries, Brazil, with a CAGR of +8.6%, saw 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 import price in Latin America and the Caribbean stood at $X per ton in 2021, picking up by 13% against the previous year. Over the period under review, the import price, however, saw a noticeable downturn. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+11.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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