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

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

The Singaporean high-tenacity filament aramids yarn market declined to $X in 2022, dropping by -14.7% against the previous year. Over the period under review, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +11.3% against 2020 indices. As a result, consumption reached the peak level of $X, and then fell in the following year.

Production of High-Tenacity Filament Yarn Of Aramids in Singapore

In value terms, high-tenacity filament aramids yarn production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when the production volume increased by 15%. High-tenacity filament aramids yarn production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports from Singapore

In 2022, the amount of high-tenacity filament yarn of aramids exported from Singapore surged to X kg, growing by 1,327% on the previous year. Overall, exports, however, continue to indicate a dramatic downturn. The growth pace was the most rapid in 2015 with an increase of 1,526% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, high-tenacity filament aramids yarn exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a sharp curtailment. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X kg) was the main destination for high-tenacity filament aramids yarn exports from Singapore, with a 77% share of total exports. Moreover, high-tenacity filament aramids yarn exports to Indonesia exceeded the volume sent to the second major destination, Angola (X kg), fourfold. The third position in this ranking was taken by Qatar (X kg), with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia stood at -25.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (0.0% per year) and Qatar (0.0% per year).

In value terms, Indonesia ($X), Angola ($X) and Qatar ($X) appeared to be the largest markets for high-tenacity filament aramids yarn exported from Singapore worldwide, together accounting for 100% of total exports.

Among the main countries of destination, Angola, with a CAGR of 0.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average high-tenacity filament aramids yarn export price stood at $X per ton in 2022, declining by -28% against the previous year. In general, the export price, however, continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2021 an increase of 160%. As a result, the export price reached the peak level of $X per ton, and then fell significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Indonesia ($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 India (+54.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports into Singapore

In 2022, purchases abroad of high-tenacity filament yarn of aramids decreased by -18.1% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, imports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2015 when imports increased by 146%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, high-tenacity filament aramids yarn imports dropped significantly to $X in 2022. In general, imports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2015 with an increase of 176%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of high-tenacity filament aramids yarn to Singapore, with a 69% share of total imports. Moreover, high-tenacity filament aramids yarn imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +22.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+22.8% per year) and Malaysia (+2.0% per year).

In value terms, China ($X) constituted the largest supplier of high-tenacity filament yarn of aramids to Singapore, comprising 59% of total imports. The second position in the ranking was taken by South Korea ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+21.9% per year) and Malaysia (+1.2% per year).

Import Prices by Country

The average high-tenacity filament aramids yarn import price stood at $X per ton in 2022, approximately reflecting the previous year. Overall, the import price, however, saw a perceptible downturn. The pace of growth was the most pronounced in 2016 when the average import price increased by 83%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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 South Korea ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+0.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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