Pakistan: Man-Made Filament Yarn Market 2024

Man-Made Filament Yarn Market Size in Pakistan

For the third year in a row, the Pakistani man-made filament yarn market recorded decline in sales value, which decreased by -6.9% to $X in 2021. Overall, consumption recorded a perceptible curtailment. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Man-Made Filament Yarn Production in Pakistan

In value terms, man-made filament yarn production rose slightly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a slight slump. The pace of growth appeared the most rapid in 2014 with an increase of 27% against the previous year. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Man-Made Filament Yarn Exports

Exports from Pakistan

In 2021, shipments abroad of man-made filament yarn increased by 54% to X tons, rising for the third consecutive year after two years of decline. In general, exports saw a significant expansion. The growth pace was the most rapid in 2019 with an increase of 1,404% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, man-made filament yarn exports soared to $X in 2021. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 804% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for man-made filament yarn exports from Pakistan, with a 89% share of total exports. Moreover, man-made filament yarn exports to the United States exceeded the volume sent to the second major destination, Portugal (X tons), more than tenfold. Colombia (X tons) ranked third in terms of total exports with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +193.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+11.2% per year) and Colombia (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for man-made filament yarn exports from Pakistan, comprising 86% of total exports. The second position in the ranking was held by Portugal ($X), with a 3.7% share of total exports. It was followed by Colombia, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +172.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+5.0% per year) and Colombia (0.0% per year).

Export Prices by Country

The average man-made filament yarn export price stood at $X per ton in 2021, surging by 6.6% against the previous year. In general, the export price, however, saw a deep downturn. The pace of growth appeared the most rapid in 2016 when the average export price increased by 12% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Canada ($X per ton) and Portugal ($X per ton), while the average price for exports to the United States ($X per ton) and Colombia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-2.1%), while the prices for the other major destinations experienced a decline.

Man-Made Filament Yarn Imports

Imports into Pakistan

In 2021, man-made filament yarn imports into Pakistan expanded notably to X tons, surging by 9.9% compared with the year before. Overall, imports showed a notable increase. The growth pace was the most rapid in 2014 when imports increased by 68% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, man-made filament yarn imports surged to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 61% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of man-made filament yarn to Pakistan, accounting for a 82% share of total imports. Moreover, man-made filament yarn imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), more than tenfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 2.5% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+77.1% per year) and Taiwan (Chinese) (-15.8% per year).

In value terms, China ($X) constituted the largest supplier of man-made filament yarn to Pakistan, comprising 82% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 4.3% share of total imports. It was followed by Thailand, with a 2.2% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-18.1% per year) and Thailand (+22.8% per year).

Import Prices by Country

In 2021, the average man-made filament yarn import price amounted to $X per ton, increasing by 7.1% against the previous year. In general, the import price, however, continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by 30%. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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