Latin America and the Caribbean: Man-Made Filament Fabric Market 2024

Man-Made Filament Fabric Market Size in Latin America and the Caribbean

In 2021, the Latin American man-made filament fabric market increased by 26% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Man-Made Filament Fabric Production in Latin America and the Caribbean

In value terms, man-made filament fabric production reduced modestly to $X in 2021 estimated in export price. Overall, production showed a pronounced decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by 7.2%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Man-Made Filament Fabric Exports

Exports in Latin America and the Caribbean

In 2021, the amount of woven fabrics of man-made filaments and staple fibers exported in Latin America and the Caribbean skyrocketed to X tons, jumping by 22% on 2020. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, man-made filament fabric exports skyrocketed to $X in 2021. In general, exports, however, showed a slight slump. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the five major exporters of woven fabrics of man-made filaments and staple fibers, namely Mexico, Guatemala, Chile, Brazil and Paraguay, represented more than two-thirds of total export. Colombia (X tons) held a 7% share (based on physical terms) of total exports, which put it in second place, followed by El Salvador (5.6%).

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +16.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Chile ($X) and Guatemala ($X) were the countries with the highest levels of exports in 2021, together comprising 58% of total exports. These countries were followed by Brazil, Colombia, El Salvador and Paraguay, which together accounted for a further 29%.

Paraguay, with a CAGR of +11.5%, recorded 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 more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 5.4% against the previous year. Overall, the export price, however, continues to indicate a noticeable setback. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+1.4%), while the other leaders experienced a decline in the export price figures.

Man-Made Filament Fabric Imports

Imports in Latin America and the Caribbean

In 2021, approx. X tons of woven fabrics of man-made filaments and staple fibers were imported in Latin America and the Caribbean; growing by 37% on the year before. The total import volume increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, man-made filament fabric imports skyrocketed to $X in 2021. Overall, imports, however, recorded a mild reduction. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Brazil was the largest importer of woven fabrics of man-made filaments and staple fibers in Latin America and the Caribbean, with the volume of imports amounting to X tons, which was approx. 31% of total imports in 2021. It was distantly followed by Mexico (X tons), Chile (X tons), Colombia (X tons), Argentina (X tons), Peru (X tons) and Bolivia (X tons), together making up a 48% share of total imports. Guatemala (X tons), Ecuador (X tons), Nicaragua (X tons), the Dominican Republic (X tons) and Honduras (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to man-made filament fabric imports into Brazil stood at +4.7%. At the same time, Mexico (+17.6%), Chile (+15.2%), the Dominican Republic (+13.6%), Nicaragua (+10.2%), Peru (+8.0%), Colombia (+7.3%) and Bolivia (+5.2%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +17.6% from 2012-2021. Ecuador, Argentina and Honduras experienced a relatively flat trend pattern. By contrast, Guatemala (-5.8%) illustrated a downward trend over the same period. Mexico (+7.9 p.p.), Chile (+6.9 p.p.) and Colombia (+2 p.p.) significantly strengthened its position in terms of the total imports, while Argentina and Guatemala saw its share reduced by -2.2% and -5.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Mexico ($X) and Colombia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 54% share of total imports. These countries were followed by Chile, Argentina, Peru, the Dominican Republic, Guatemala, Nicaragua, Honduras, Ecuador and Bolivia, which together accounted for a further 36%.

Nicaragua, with a CAGR of +25.0%, recorded the highest growth rate of the value of imports, among the main importing countries 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, which is down by -3.2% against the previous year. In general, the import price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2018 when the import price increased by 0.7%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nicaragua (+13.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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