Myanmar: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Myanmar

After three years of growth, the Myanmar's synthetic filament tow market decreased by -8.8% to $X in 2021. Overall, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +45.6% against 2013 indices. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Synthetic Filament Tow Production in Myanmar

In value terms, synthetic filament tow production shrank to $X in 2021 estimated in export price. Overall, the total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +37.6% against 2017 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 19%. As a result, production attained the peak level of $X, and then fell in the following year.

Synthetic Filament Tow Exports

Exports from Myanmar

In 2021, overseas shipments of synthetic filament tow and staple fibers, not carded or combed decreased by -14.5% to X tons, falling for the second year in a row after eight years of growth. Over the period under review, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 123% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, synthetic filament tow exports dropped to $X in 2021. Overall, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of 169% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons), Chile (X tons) and Brazil (X tons) were the main destinations of synthetic filament tow exports from Myanmar, together comprising 85% of total exports. These countries were followed by Canada, India, Vietnam and Thailand, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were in Canada (with a CAGR of +293.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic filament tow exported from Myanmar were China ($X), Chile ($X) and Brazil ($X), together comprising 79% of total exports. Canada, India, Thailand and Vietnam lagged somewhat behind, together comprising a further 20%.

In terms of the main countries of destination, Canada, with a CAGR of +647.5%, recorded the highest rates of growth with regard to the value of exports, 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, rising by 6.8% against the previous year. In general, the export price, however, continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2018 an increase of 21% against the previous year. 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 stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Brazil ($X per ton), while the average price for exports to Chile ($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 Canada (+89.9%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Filament Tow Imports

Imports into Myanmar

In 2021, after five years of growth, there was significant decline in purchases abroad of synthetic filament tow and staple fibers, not carded or combed, when their volume decreased by -21.2% to X tons. Over the period under review, imports, however, posted resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 84%. Imports peaked at X tons in 2020, and then contracted dramatically in the following year.

In value terms, synthetic filament tow imports declined dramatically to $X in 2021. In general, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 68%. Imports peaked at $X in 2020, and then dropped markedly in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest synthetic filament tow supplier to Myanmar, with a 52% share of total imports. Moreover, synthetic filament tow imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. Thailand (X tons) ranked third in terms of total imports with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +35.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+22.8% per year) and Thailand (+11.1% per year).

In value terms, China ($X), Germany ($X) and South Korea ($X) constituted the largest synthetic filament tow suppliers to Myanmar, together comprising 69% of total imports. Singapore, Taiwan (Chinese), Thailand and India lagged somewhat behind, together comprising a further 25%.

Among the main suppliers, India, with a CAGR of +39.5%, saw 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

In 2021, the average synthetic filament tow import price amounted to $X per ton, dropping by -1.6% against the previous year. In general, the import price continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2020 when the average import price increased by 18% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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