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

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

The MENA's high-tenacity filament aramids yarn market totaled $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Production of High-Tenacity Filament Yarn Of Aramids in MENA

In value terms, high-tenacity filament aramids yarn production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 14% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports in MENA

In 2022, the amount of high-tenacity filament yarn of aramids exported in MENA dropped significantly to X tons, waning by -26.9% on 2021 figures. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 75% against the previous year. Over the period under review, the exports hit record highs 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 contracted to $X in 2022. Over the period under review, exports showed a mild curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 41%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey represented the largest exporter of high-tenacity filament yarn of aramids in MENA, with the volume of exports amounting to X tons, which was near 72% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), constituting a 22% share of total exports. Morocco (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to high-tenacity filament aramids yarn exports from Turkey stood at +19.0%. At the same time, Morocco (+144.7%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in MENA, with a CAGR of +144.7% from 2012-2022. By contrast, the United Arab Emirates (-10.5%) illustrated a downward trend over the same period. Turkey (+59 p.p.) and Morocco (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -44.5% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest high-tenacity filament aramids yarn supplier in MENA, comprising 74% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to +29.7%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-11.9% per year) and Morocco (+164.8% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, with an increase of 29% against the previous year. Overall, the export price, however, saw a mild contraction. The most prominent rate of growth was recorded in 2019 when the export price increased by 91% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Morocco ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+9.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports in MENA

In 2022, imports of high-tenacity filament yarn of aramids in MENA rose markedly to X tons, growing by 12% on 2021. Total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.1% against 2020 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 31% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, high-tenacity filament aramids yarn imports skyrocketed to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +94.1% against 2017 indices. The most prominent rate of growth was recorded in 2019 with an increase of 24%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Turkey (X tons) was the largest importer of high-tenacity filament yarn of aramids, making up 60% of total imports. It was distantly followed by Israel (X tons) and Morocco (X tons), together creating a 35% share of total imports. Oman (X tons) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +12.7% from 2012 to 2022. At the same time, Morocco (+165.7%), Oman (+5.7%) and Israel (+4.1%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing importer imported in MENA, with a CAGR of +165.7% from 2012-2022. While the share of Turkey (+37 p.p.), Morocco (+8.3 p.p.) and Israel (+4.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported high-tenacity filament yarn of aramids in MENA, comprising 65% of total imports. The second position in the ranking was taken by Israel ($X), with a 24% share of total imports. It was followed by Morocco, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to +15.1%. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+3.4% per year) and Morocco (+186.3% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, surging by 4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. The pace of growth appeared the most rapid in 2020 an increase of 15%. Over the period under review, import prices attained the maximum in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+7.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform