New Zealand: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in New Zealand

The New Zealand synthetic filament tow market surged to $X in 2021, growing by 33% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed a pronounced shrinkage. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Synthetic Filament Tow Exports

Exports from New Zealand

In 2021, overseas shipments of synthetic filament tow and staple fibers, not carded or combed increased by 174% to X tons, rising for the third consecutive year after three years of decline. Overall, exports saw a strong increase. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic filament tow exports skyrocketed to $X in 2021. Over the period under review, exports saw a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Australia (X tons) was the main destination for synthetic filament tow exports from New Zealand, accounting for a 87% share of total exports. Moreover, synthetic filament tow exports to Australia exceeded the volume sent to the second major destination, Ecuador (X tons), more than tenfold. Taiwan (Chinese) (X kg) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Australia totaled +8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+22.7% per year) and Taiwan (Chinese) (-22.7% per year).

In value terms, Australia ($X) remains the key foreign market for synthetic filament tow exports from New Zealand, comprising 65% of total exports. The second position in the ranking was held by Ecuador ($X), with an 11% share of total exports. It was followed by Taiwan (Chinese), with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia totaled +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+17.0% per year) and Taiwan (Chinese) (+35.1% per year).

Export Prices by Country

The average synthetic filament tow export price stood at $X per ton in 2021, approximately equating the previous year. Over the period under review, the export price, however, continues to indicate a noticeable setback. The pace of growth appeared the most rapid in 2018 an increase of 133% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Tonga ($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 Taiwan (Chinese) (+74.6%), while the prices for the other major destinations experienced mixed trend patterns.

Synthetic Filament Tow Imports

Imports into New Zealand

In 2021, the amount of synthetic filament tow and staple fibers, not carded or combed imported into New Zealand skyrocketed to X tons, with an increase of 23% on the year before. The total import volume increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic filament tow imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a perceptible descent. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of synthetic filament tow to New Zealand, with a 58% share of total imports. Moreover, synthetic filament tow imports from South Korea exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. The third position in this ranking was taken by Malaysia (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea stood at +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-4.9% per year) and Malaysia (+9.5% per year).

In value terms, South Korea ($X), Taiwan (Chinese) ($X) and Malaysia ($X) appeared to be the largest synthetic filament tow suppliers to New Zealand, together accounting for 90% of total imports.

South Korea, with a CAGR of +9.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average synthetic filament tow import price stood at $X per ton in 2021, picking up by 11% against the previous year. Over the period under review, the import price, however, recorded a noticeable shrinkage. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for Malaysia ($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 UK (+2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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