Saudi Arabia: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Saudi Arabia

After two years of decline, the Saudi synthetic filament tow market increased by 4.6% to $X in 2021. In general, consumption recorded a abrupt decline. Synthetic filament tow consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Synthetic Filament Tow Production in Saudi Arabia

In value terms, synthetic filament tow production expanded notably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by 49%. Synthetic filament tow production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Synthetic Filament Tow Exports

Exports from Saudi Arabia

In 2021, after two years of decline, there was significant growth in overseas shipments of synthetic filament tow and staple fibers, not carded or combed, when their volume increased by 24% to X tons. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 162% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, synthetic filament tow exports surged to $X in 2021. Overall, exports recorded a significant increase. The growth pace was the most rapid in 2014 with an increase of 134% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for synthetic filament tow exports from Saudi Arabia, accounting for a 30% share of total exports. Moreover, synthetic filament tow exports to the United States exceeded the volume sent to the second major destination, Italy (X tons), threefold. The third position in this ranking was held by Hungary (X tons), with an 8.2% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +39.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+75.2% per year) and Hungary (+17.8% per year).

In value terms, the United States ($X) emerged as the key foreign market for synthetic filament tow exports from Saudi Arabia, comprising 36% of total exports. The second position in the ranking was taken by Italy ($X), with a 12% share of total exports. It was followed by Greece, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +41.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+66.4% per year) and Greece (+33.8% per year).

Export Prices by Country

In 2021, the average synthetic filament tow export price amounted to $X per ton, with an increase of 48% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Hungary ($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 Slovenia (+65.3%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Filament Tow Imports

Imports into Saudi Arabia

After two years of decline, supplies from abroad of synthetic filament tow and staple fibers, not carded or combed increased by 3.4% to X tons in 2021. In general, imports, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2018 with an increase of 27% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, synthetic filament tow imports surged to $X in 2021. Overall, imports, however, saw a abrupt decrease. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and South Korea (X tons) were the main suppliers of synthetic filament tow imports to Saudi Arabia, together comprising 50% of total imports. Taiwan (Chinese), Vietnam, Turkey, Denmark, Italy, Germany, Belgium and the United States lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +72.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and South Korea ($X) constituted the largest synthetic filament tow suppliers to Saudi Arabia, together comprising 45% of total imports. Denmark, Turkey, Italy, Taiwan (Chinese), Vietnam, Germany, the United States and Belgium lagged somewhat behind, together comprising a further 40%.

Among the main suppliers, Vietnam, with a CAGR of +51.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average synthetic filament tow import price stood at $X per ton in 2021, increasing by 33% against the previous year. In general, the import price, however, showed a pronounced setback. The pace of growth was the most pronounced in 2016 when the average import price increased by 45%. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices stood 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 United States (+18.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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