Serbia: Market for High-Tenacity Filament Yarn Of Aramids 2024

Market Size for High-Tenacity Filament Yarn Of Aramids in Serbia

The Serbian high-tenacity filament aramids yarn market declined slightly to $X in 2022, which is down by -1.5% against the previous year. Over the period under review, consumption enjoyed a prominent increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of High-Tenacity Filament Yarn Of Aramids in Serbia

In value terms, high-tenacity filament aramids yarn production reduced modestly to $X in 2022 estimated in export price. Overall, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -11.5% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of 24% against the previous year. High-tenacity filament aramids yarn production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports from Serbia

High-tenacity filament aramids yarn exports from Serbia surged to X tons in 2022, increasing by 247% against the previous year's figure. In general, exports recorded a significant increase. The pace of growth was the most pronounced in 2019 with an increase of 426%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, high-tenacity filament aramids yarn exports surged to $X in 2022. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 649%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Bulgaria (X tons) was the main destination for high-tenacity filament aramids yarn exports from Serbia, with a 91% share of total exports. Moreover, high-tenacity filament aramids yarn exports to Bulgaria exceeded the volume sent to the second major destination, Turkey (X tons), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bulgaria totaled +25.0%.

In value terms, Bulgaria ($X) emerged as the key foreign market for high-tenacity filament yarn of aramids exports from Serbia, comprising 90% of total exports. The second position in the ranking was held by Turkey ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Bulgaria totaled +28.6%.

Export Prices by Country

In 2022, the average high-tenacity filament aramids yarn export price amounted to $X per ton, declining by -7.6% against the previous year. Over the period under review, the export price, however, enjoyed a significant expansion. The growth pace was the most rapid in 2019 an increase of 42%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Bulgaria amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+2.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports into Serbia

In 2022, overseas purchases of high-tenacity filament yarn of aramids were finally on the rise to reach X tons after two years of decline. Overall, imports saw a significant increase. The most prominent rate of growth was recorded in 2015 when imports increased by 605% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, high-tenacity filament aramids yarn imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 667% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons), the Netherlands (X tons) and the UK (X tons) were the main suppliers of high-tenacity filament aramids yarn imports to Serbia, together comprising 91% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +128.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest high-tenacity filament aramids yarn suppliers to Serbia were South Korea ($X), the Netherlands ($X) and the UK ($X), together accounting for 90% of total imports.

Among the main suppliers, South Korea, with a CAGR of +140.1%, 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 more modest paces of growth.

Import Prices by Country

The average high-tenacity filament aramids yarn import price stood at $X per ton in 2022, stabilizing at the previous year. Overall, the import price, however, showed a noticeable slump. The most prominent rate of growth was recorded in 2019 when the average import price increased by 41%. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the UK ($X per ton) and Turkey ($X per ton), while the price for the Netherlands ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform