Pakistan: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Pakistan

In 2021, the Pakistani synthetic filament tow market increased by 11% to $X, rising for the fifth consecutive year after two years of decline. In general, the total consumption indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% 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 +104.2% against 2016 indices. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the immediate term.

Synthetic Filament Tow Exports

Exports from Pakistan

In 2021, overseas shipments 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, exports recorded significant growth. The pace of growth was the most pronounced in 2018 when exports increased by 710%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in years to come.

In value terms, synthetic filament tow exports soared to $X in 2021. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 498% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Turkey (X tons), the United States (X tons) and the United Arab Emirates (X tons) were the main destinations of synthetic filament tow exports from Pakistan, with a combined 87% share of total exports. These countries were followed by Bahrain, Saudi Arabia and Brazil, which together accounted for a further 7.6%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Saudi Arabia (with a CAGR of +106.5%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United States ($X) and the United Arab Emirates ($X) were the largest markets for synthetic filament tow exported from Pakistan worldwide, with a combined 86% share of total exports. These countries were followed by Bahrain, Saudi Arabia and Brazil, which together accounted for a further 8%.

In terms of the main countries of destination, Saudi Arabia, with a CAGR of +94.1%, saw 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

In 2021, the average synthetic filament tow export price amounted to $X per ton, with an increase of 7.3% against the previous year. In general, the export price, however, recorded a perceptible reduction. The pace of growth appeared the most rapid in 2016 when the average export price increased by 27%. 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 external markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to the United Arab Emirates ($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 Turkey (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Filament Tow Imports

Imports into Pakistan

In 2021, overseas purchases of synthetic filament tow and staple fibers, not carded or combed decreased by -3.9% to X tons for the first time since 2016, thus ending a four-year rising trend. Overall, imports, however, showed temperate growth. The pace of growth appeared the most rapid in 2020 when imports increased by 63% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, synthetic filament tow imports soared to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Thailand (X tons) and Indonesia (X tons) were the main suppliers of synthetic filament tow imports to Pakistan, together accounting for 79% of total imports. Taiwan (Chinese), South Korea, Bangladesh and Portugal lagged somewhat behind, together comprising a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bangladesh (with a CAGR of +1,143.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic filament tow suppliers to Pakistan were China ($X), Thailand ($X) and Indonesia ($X), with a combined 71% share of total imports. These countries were followed by Taiwan (Chinese), South Korea, Bangladesh and Portugal, which together accounted for a further 18%.

Bangladesh, with a CAGR of +993.2%, 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, rising by 33% against the previous year. Over the period under review, the import price, however, showed a perceptible curtailment. The import price peaked 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 South Korea ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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