Malaysia: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Malaysia

In 2021, the Malaysian synthetic filament tow market decreased by -26.6% to $X, falling for the third year in a row after two years of growth. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Synthetic Filament Tow Production in Malaysia

In value terms, synthetic filament tow production rose sharply to $X in 2021 estimated in export price. Over the period under review, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -6.9% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 50%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Synthetic Filament Tow Exports

Exports from Malaysia

For the third consecutive year, Malaysia recorded growth in overseas shipments of synthetic filament tow and staple fibers, not carded or combed, which increased by 29% to X tons in 2021. In general, total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +74.8% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic filament tow exports soared to $X in 2021. Over the period under review, exports showed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) was the main destination for synthetic filament tow exports from Malaysia, accounting for a 52% share of total exports. Moreover, synthetic filament tow exports to Turkey exceeded the volume sent to the second major destination, Indonesia (X tons), eightfold. Japan (X tons) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey totaled +14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-3.3% per year) and Japan (+18.9% per year).

In value terms, Turkey ($X), Japan ($X) and Nigeria ($X) constituted the largest markets for synthetic filament tow exported from Malaysia worldwide, together accounting for 61% of total exports.

Nigeria, with a CAGR of +108.6%, recorded the highest growth rate of the value of exports, among 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

The average synthetic filament tow export price stood at $X per ton in 2021, jumping by 34% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Turkey ($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 Nigeria (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Filament Tow Imports

Imports into Malaysia

Synthetic filament tow imports into Malaysia skyrocketed to X tons in 2021, surging by 19% on the year before. The total import volume increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, synthetic filament tow imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons) were the main suppliers of synthetic filament tow imports to Malaysia, together comprising 69% of total imports. South Korea, Indonesia, Japan, Vietnam and Belgium lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +13.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic filament tow suppliers to Malaysia were China ($X), Taiwan (Chinese) ($X) and Thailand ($X), with a combined 67% share of total imports.

Among the main suppliers, Thailand, with a CAGR of +13.6%, recorded the highest growth rate of 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, surging by 5.3% against the previous year. Overall, the import price, however, recorded a pronounced setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by 9.6% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: 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 Thailand (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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