Philippines: Synthetic Yarn Market 2025

Synthetic Yarn Market Size in the Philippines

The Philippine synthetic yarn market skyrocketed to $X in 2022, increasing by X% against the previous year. Overall, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Synthetic Yarn Production in the Philippines

In value terms, synthetic yarn production declined modestly to $X in 2022 estimated in export price. In general, production, however, saw a tangible increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Synthetic yarn production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Synthetic Yarn Exports

Exports from the Philippines

Synthetic yarn exports from the Philippines fell remarkably to X tons in 2022, shrinking by X% against the previous year's figure. Over the period under review, exports recorded a abrupt descent. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, synthetic yarn exports declined markedly to $X in 2022. In general, exports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Egypt (X tons) was the main destination for synthetic yarn exports from the Philippines, accounting for a X% share of total exports. Moreover, synthetic yarn exports to Egypt exceeded the volume sent to the second major destination, Bangladesh (X tons), twofold. The third position in this ranking was held by Turkey (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Egypt stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X% per year) and Turkey (X% per year).

In value terms, Egypt ($X), Portugal ($X) and Bangladesh ($X) were the largest markets for synthetic yarn exported from the Philippines worldwide, with a combined X% share of total exports.

Egypt, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average synthetic yarn export price amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price attained 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 2022, amid the top suppliers, the country with the highest price was Yemen ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Israel (X%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Yarn Imports

Imports into the Philippines

In 2022, synthetic yarn imports into the Philippines declined dramatically to X tons, waning by X% compared with 2021 figures. Overall, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2015 when imports increased by X%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, synthetic yarn imports amounted to $X in 2022. Over the period under review, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), Vietnam (X tons) and Thailand (X tons) were the main suppliers of synthetic yarn imports to the Philippines, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of yarn of synthetic or artificial staple fibers to the Philippines, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with an X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the average synthetic yarn import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price continues to indicate prominent growth. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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