Philippines: Man-Made Filament Yarn Market 2025

Man-Made Filament Yarn Market Size in the Philippines

In 2021, the Philippine man-made filament yarn market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, showed a abrupt decline. Man-made filament yarn consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Man-Made Filament Yarn Exports

Exports from the Philippines

In 2021, shipments abroad of man-made filament yarn was finally on the rise to reach X tons after two years of decline. Overall, exports, however, showed a abrupt setback. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, man-made filament yarn exports stood at $X in 2021. In general, exports, however, showed a deep contraction. The pace of growth was the most pronounced in 2016 with an increase of 60%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X tons), Chile (X tons) and the United States (X tons) were the main destinations of man-made filament yarn exports from the Philippines, together comprising 88% 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 the United States (with a CAGR of +100.9%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for man-made filament yarn exports from the Philippines, comprising 66% of total exports. The second position in the ranking was held by Vietnam ($X), with a 17% share of total exports. It was followed by Chile, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value to China stood at -14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+7.5% per year) and Chile (-0.5% per year).

Export Prices by Country

The average man-made filament yarn export price stood at $X per ton in 2021, falling by -38.9% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 83% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then contracted dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to the United States ($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 Morocco (+256.6%), while the prices for the other major destinations experienced more modest paces of growth.

Man-Made Filament Yarn Imports

Imports into the Philippines

In 2021, overseas purchases of man-made filament yarn were finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, showed a abrupt curtailment. The growth pace was the most rapid in 2017 with an increase of 181% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, man-made filament yarn imports surged to $X in 2021. Overall, imports, however, showed a pronounced curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 215% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Japan (X tons) constituted the largest man-made filament yarn supplier to the Philippines, accounting for a 69% share of total imports. Moreover, man-made filament yarn imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. Indonesia (X tons) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan stood at +26.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-20.7% per year) and Indonesia (-16.2% per year).

In value terms, Japan ($X) constituted the largest supplier of man-made filament yarn to the Philippines, comprising 82% of total imports. The second position in the ranking was taken by China ($X), with a 12% share of total imports. It was followed by Vietnam, with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan amounted to +24.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-16.7% per year) and Vietnam (-9.7% per year).

Import Prices by Country

The average man-made filament yarn import price stood at $X per ton in 2021, increasing by 9.3% against the previous year. Over the period under review, the import price recorded a buoyant increase. The pace of growth appeared the most rapid in 2015 when the average import price increased by 57%. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Pakistan ($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 (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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