MENA: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in MENA

In 2021, the MENA's synthetic filament tow market decreased by -2.5% to $X, falling for the third consecutive year after three years of growth. Over the period under review, consumption showed a pronounced reduction. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Synthetic Filament Tow Production in MENA

In value terms, synthetic filament tow production reduced modestly to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 29% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Synthetic Filament Tow Exports

Exports in MENA

In 2021, the amount of synthetic filament tow and staple fibers, not carded or combed exported in MENA skyrocketed to X tons, picking up by 57% against 2020 figures. Overall, exports posted a remarkable increase. 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. Total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +109.6% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Turkey (X tons) represented the key exporter of synthetic filament tow and staple fibers, not carded or combed, creating 66% of total exports. Egypt (X tons) took a 12% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (11%) and the United Arab Emirates (6.4%). Iran (X tons) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to synthetic filament tow exports from Turkey stood at +17.1%. At the same time, Saudi Arabia (+20.8%), the United Arab Emirates (+10.9%) and Egypt (+3.4%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +20.8% from 2012-2021. By contrast, Iran (-4.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey and Saudi Arabia increased by +23 and +5.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest synthetic filament tow supplier in MENA, comprising 59% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with an 18% share of total exports. It was followed by Egypt, with a 12% share.

In Turkey, synthetic filament tow exports expanded at an average annual rate of +12.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+21.4% per year) and Egypt (-5.3% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, increasing by 28% against the previous year. In general, the export price, however, continues to indicate a pronounced contraction. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+0.5%), while the other leaders experienced a decline in the export price figures.

Synthetic Filament Tow Imports

Imports in MENA

In 2021, after three years of decline, there was growth in purchases abroad of synthetic filament tow and staple fibers, not carded or combed, when their volume increased by 1.5% to X tons. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 10% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, synthetic filament tow imports skyrocketed to $X in 2021. Overall, imports, however, showed a noticeable slump. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) was the main importer of synthetic filament tow and staple fibers, not carded or combed, mixing up 57% of total imports. Israel (X tons) took the second position in the ranking, followed by Egypt (X tons) and the United Arab Emirates (X tons). All these countries together held near 26% share of total imports. Morocco (X tons), Saudi Arabia (X tons) and Iran (X tons) held a relatively small share of total imports.

Turkey was also the fastest-growing in terms of the synthetic filament tow and staple fibers, not carded or combed imports, with a CAGR of +4.3% from 2012 to 2021. At the same time, Egypt (+2.8%) and the United Arab Emirates (+2.1%) displayed positive paces of growth. Israel experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-5.8%), Morocco (-5.9%) and Iran (-20.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey and Egypt increased by +19 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported synthetic filament tow and staple fibers, not carded or combed in MENA, comprising 60% of total imports. The second position in the ranking was held by Israel ($X), with a 13% share of total imports. It was followed by Egypt, with a 6.7% share.

In Turkey, synthetic filament tow imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Israel (-1.2% per year) and Egypt (-1.1% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, increasing by 25% against the previous year. Overall, the import price, however, continues to indicate a noticeable setback. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Iran ($X per ton) and Turkey ($X per ton), while Morocco ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (-1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform