Scandinavia: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Scandinavia

In 2021, after seven years of decline, there was significant growth in the Scandinavia synthetic filament tow market, when its value increased by 34% to $X. Over the period under review, consumption, however, continues to indicate a abrupt decline. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Synthetic Filament Tow Production in Scandinavia

In value terms, synthetic filament tow production dropped slightly to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 12% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Synthetic Filament Tow Exports

Exports in Scandinavia

Synthetic filament tow exports reduced to X tons in 2021, which is down by -12.3% on 2020. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 628%. As a result, the exports reached the peak of X tons, and then contracted in the following year.

In value terms, synthetic filament tow exports surged to $X in 2021. Overall, exports, however, recorded a significant increase. The growth pace was the most rapid in 2016 when exports increased by 1,211%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of synthetic filament tow and staple fibers, not carded or combed, namely Denmark, represented more than two-thirds of total export.

Denmark was also the fastest-growing in terms of the synthetic filament tow and staple fibers, not carded or combed exports, with a CAGR of +31.8% from 2012 to 2021. Denmark (+4.1 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Denmark ($X) also remains the largest synthetic filament tow supplier in Scandinavia.

In Denmark, synthetic filament tow exports expanded at an average annual rate of +36.9% over the period from 2012-2021.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, jumping by 34% against the previous year. In general, the export price continues to indicate moderate growth. The most prominent rate of growth was recorded in 2016 when the export price increased by 1,416%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Denmark.

From 2012 to 2021, the rate of growth in terms of prices for Denmark amounted to +3.8% per year.

Synthetic Filament Tow Imports

Imports in Scandinavia

In 2021, supplies from abroad of synthetic filament tow and staple fibers, not carded or combed increased by 2.3% to X tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 16%. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, synthetic filament tow imports surged to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 17% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Finland represented the main importer of synthetic filament tow and staple fibers, not carded or combed in Scandinavia, with the volume of imports recording X tons, which was approx. 48% of total imports in 2021. Sweden (X tons) ranks second in terms of the total imports with a 24% share, followed by Denmark (21%) and Norway (7.9%).

Finland was also the fastest-growing in terms of the synthetic filament tow and staple fibers, not carded or combed imports, with a CAGR of +4.9% from 2012 to 2021. At the same time, Sweden (+1.8%) displayed positive paces of growth. Denmark and Norway experienced a relatively flat trend pattern. While the share of Finland (+8.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Sweden (-1.8 p.p.), Norway (-2.8 p.p.) and Denmark (-3.7 p.p.) displayed negative dynamics.

In value terms, Finland ($X), Sweden ($X) and Denmark ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 94% share of total imports.

Finland, with a CAGR of +1.8%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, growing by 13% against the previous year. Over the period under review, the import price, however, showed a pronounced setback. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Sweden ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (-1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform