Mexico: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Mexico

The Mexican synthetic filament tow market shrank slightly to $X in 2021, reducing by -1.7% against the previous year. The market value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Synthetic Filament Tow Production in Mexico

In value terms, synthetic filament tow production reduced to $X in 2021 estimated in export price. Overall, production, however, recorded a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of 56%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Synthetic Filament Tow Exports

Exports from Mexico

In 2021, exports of synthetic filament tow and staple fibers, not carded or combed from Mexico fell dramatically to X tons, dropping by -29.9% against 2020. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 62%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, synthetic filament tow exports shrank rapidly to $X in 2021. Over the period under review, exports showed a abrupt curtailment. The pace of growth was the most pronounced in 2014 when exports increased by 32%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for synthetic filament tow exports from Mexico, accounting for a 58% share of total exports. Moreover, synthetic filament tow exports to the United States exceeded the volume sent to the second major destination, Hungary (X tons), threefold. The third position in this ranking was taken by Colombia (X tons), with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+50.1% per year) and Colombia (-9.6% per year).

In value terms, Hungary ($X), the United States ($X) and Colombia ($X) were the largest markets for synthetic filament tow exported from Mexico worldwide, with a combined 83% share of total exports.

Hungary, with a CAGR of +40.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average synthetic filament tow export price stood at $X per ton in 2021, increasing by 6.8% against the previous year. Overall, the export price, however, showed a deep setback. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 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 Colombia ($X per ton), while the average price for exports to the United States ($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 Colombia (+1.3%), while the prices for the other major destinations experienced a decline.

Synthetic Filament Tow Imports

Imports into Mexico

In 2021, overseas purchases of synthetic filament tow and staple fibers, not carded or combed were finally on the rise to reach X tons after two years of decline. In general, imports, however, recorded a abrupt curtailment. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, synthetic filament tow imports soared to $X in 2021. Overall, imports, however, continue to indicate a pronounced contraction. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

India (X tons), China (X tons) and the United States (X tons) were the main suppliers of synthetic filament tow imports to Mexico, with a combined 57% share of total imports. Taiwan (Chinese), South Korea, Turkey, Vietnam, Germany and Belgium lagged somewhat behind, together comprising a further 37%.

From 2012 to 2021, the biggest increases were in Turkey (with a CAGR of +69.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of synthetic filament tow to Mexico, comprising 34% of total imports. The second position in the ranking was held by China ($X), with a 14% share of total imports. It was followed by India, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at -7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.1% per year) and India (+12.5% per year).

Import Prices by Country

The average synthetic filament tow import price stood at $X per ton in 2021, reducing by -20.7% against the previous year. Overall, the import price, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2015 an increase of 231% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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