Norway: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Norway

The Norwegian synthetic filament tow market reduced remarkably to $X in 2021, which is down by -20.9% 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). Over the period under review, consumption continues to indicate a pronounced contraction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Synthetic Filament Tow Exports

Exports from Norway

Synthetic filament tow exports from Norway fell rapidly to X tons in 2021, waning by -80.7% against the previous year. Overall, exports continue to indicate a sharp decline. The growth pace was the most rapid in 2013 when exports increased by 128%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, synthetic filament tow exports reduced notably to $X in 2021. In general, exports showed a drastic downturn. The growth pace was the most rapid in 2013 when exports increased by 135%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Latvia (X tons), Denmark (X tons) and the UK (X kg) were the main destinations of synthetic filament tow exports from Norway, with a combined 84% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of +18.7%), while the other leaders experienced mixed trend patterns.

In value terms, Denmark ($X) remains the key foreign market for synthetic filament tow exports from Norway, comprising 58% of total exports. The second position in the ranking was taken by Latvia ($X), with a 20% share of total exports. It was followed by the UK, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Denmark amounted to +22.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (-23.9% per year) and the UK (-4.0% per year).

Export Prices by Country

The average synthetic filament tow export price stood at $X per ton in 2021, growing by 36% against the previous year. Over the period under review, export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, synthetic filament tow export price increased by +92.9% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Denmark ($X per ton), while the average price for exports to Sweden ($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 Denmark (+3.3%), while the prices for the other major destinations experienced a decline.

Synthetic Filament Tow Imports

Imports into Norway

In 2021, imports of synthetic filament tow and staple fibers, not carded or combed into Norway contracted notably to X tons, shrinking by -17% compared with 2020. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 17% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, synthetic filament tow imports reduced rapidly to $X in 2021. Overall, imports showed a deep setback. The pace of growth was the most pronounced in 2017 with an increase of 22%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

South Korea (X tons), China (X tons) and Belgium (X tons) were the main suppliers of synthetic filament tow imports to Norway, together comprising 63% of total imports. Denmark, Vietnam, Ireland, the Czech Republic, Taiwan (Chinese), Germany, the UK and the Netherlands lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2021, the biggest increases were in the Czech Republic (with a CAGR of +913.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), China ($X) and Belgium ($X) appeared to be the largest synthetic filament tow suppliers to Norway, together comprising 56% of total imports. These countries were followed by Denmark, Vietnam, the Czech Republic, Ireland, Germany, Taiwan (Chinese), the UK and the Netherlands, which together accounted for a further 40%.

The Czech Republic, with a CAGR of +441.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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, reducing by -8.3% against the previous year. Over the period under review, the import price showed a deep contraction. The most prominent rate of growth was recorded in 2013 when the average import price increased by 8.9% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Vietnam ($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 (-3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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