Malaysia: Market for High-Tenacity Filament Yarn Of Aramids 2024

Market Size for High-Tenacity Filament Yarn Of Aramids in Malaysia

The Malaysian high-tenacity filament aramids yarn market declined notably to $X in 2022, with a decrease of -15.2% 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). Over the period under review, consumption, however, continues to indicate a resilient increase. Over the period under review, the market hit record highs at $X in 2021, and then reduced notably in the following year.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports from Malaysia

In 2022, approx. X tons of high-tenacity filament yarn of aramids were exported from Malaysia; increasing by 613% against the previous year. In general, exports enjoyed pronounced growth. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, high-tenacity filament aramids yarn exports skyrocketed to $X in 2022. Overall, exports continue to indicate buoyant growth. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Italy (X kg) was the main destination for high-tenacity filament aramids yarn exports from Malaysia, with a 34% share of total exports. Moreover, high-tenacity filament aramids yarn exports to Italy exceeded the volume sent to the second major destination, Bangladesh (X kg), twofold. The United States (X kg) ranked third in terms of total exports with a 5% share.

From 2012 to 2022, the average annual growth rate of volume to Italy was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (-12.4% per year) and the United States (+43.3% per year).

In value terms, the largest markets for high-tenacity filament aramids yarn exported from Malaysia were the United States ($X), Bangladesh ($X) and Italy ($X), with a combined 63% share of total exports.

The United States, with a CAGR of +121.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average high-tenacity filament aramids yarn export price amounted to $X per ton, reducing by -23.5% against the previous year. Over the period under review, the export price, however, posted a measured increase. The most prominent rate of growth was recorded in 2016 an increase of 104% against the previous year. The export price peaked at $X per ton in 2021, and then shrank notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+54.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports into Malaysia

After two years of growth, overseas purchases of high-tenacity filament yarn of aramids decreased by -9.4% to X tons in 2022. In general, imports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2017 when imports increased by 131% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, high-tenacity filament aramids yarn imports contracted significantly to $X in 2022. Overall, imports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of 138%. Over the period under review, imports reached the peak figure at $X in 2021, and then reduced remarkably in the following year.

Imports by Country

In 2022, Hong Kong SAR (X tons) constituted the largest supplier of high-tenacity filament aramids yarn to Malaysia, with a 62% share of total imports. Moreover, high-tenacity filament aramids yarn imports from Hong Kong SAR exceeded the figures recorded by the second-largest supplier, China (X tons), eightfold. The third position in this ranking was held by the Netherlands (X tons), with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Hong Kong SAR totaled +69.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+27.2% per year) and the Netherlands (+19.0% per year).

In value terms, Hong Kong SAR ($X) constituted the largest supplier of high-tenacity filament yarn of aramids to Malaysia, comprising 37% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by the Netherlands, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Hong Kong SAR amounted to +45.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+24.8% per year) and the Netherlands (+20.4% per year).

Import Prices by Country

The average high-tenacity filament aramids yarn import price stood at $X per ton in 2022, which is down by -8.3% against the previous year. Over the period under review, the import price recorded a drastic downturn. The pace of growth was the most pronounced in 2019 when the average import price increased by 24%. Over the period under review, average import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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