Singapore: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Singapore

After five years of decline, the Singaporean synthetic filament tow market increased by 2.8% to $X in 2021. In general, consumption, however, continues to indicate a noticeable expansion. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Synthetic Filament Tow Production in Singapore

In value terms, synthetic filament tow production rose sharply to $X in 2021 estimated in export price. Overall, production enjoyed a remarkable increase. The pace of growth was the most pronounced in 2015 when the production volume increased by 176% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Synthetic Filament Tow Exports

Exports from Singapore

In 2021, shipments abroad of synthetic filament tow and staple fibers, not carded or combed increased by 40% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 922% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, synthetic filament tow exports surged to $X in 2021. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 735%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Colombia (X tons), India (X tons) and Indonesia (X tons) were the main destinations of synthetic filament tow exports from Singapore, together accounting for 76% of total exports. These countries were followed by the Netherlands, Pakistan, Malaysia, China, Tanzania, Peru, Canada, Bangladesh and Hong Kong SAR, which together accounted for a further 21%.

From 2012 to 2021, the biggest increases were in Canada (with a CAGR of +942.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic filament tow exported from Singapore were Indonesia ($X), India ($X) and Colombia ($X), together accounting for 69% of total exports. These countries were followed by China, the Netherlands, Malaysia, Bangladesh, Tanzania, Pakistan, Canada, Peru and Hong Kong SAR, which together accounted for a further 29%.

In terms of the main countries of destination, Canada, with a CAGR of +704.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average synthetic filament tow export price stood at $X per ton in 2021, picking up by 37% against the previous year. In general, the export price continues to indicate a modest increase. The growth pace was the most rapid in 2014 when the average export price increased by 101% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Colombia ($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 Tanzania (+40.3%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Filament Tow Imports

Imports into Singapore

In 2021, purchases abroad of synthetic filament tow and staple fibers, not carded or combed was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. In general, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2013 with an increase of 30% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, synthetic filament tow imports skyrocketed to $X in 2021. Overall, imports, however, showed a abrupt curtailment. 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

Malaysia (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons) were the main suppliers of synthetic filament tow imports to Singapore, together comprising 65% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +42.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constituted the largest supplier of synthetic filament tow to Singapore, comprising 52% of total imports. The second position in the ranking was held by the United States ($X), with a 12% share of total imports. It was followed by Taiwan (Chinese), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia amounted to +51.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-29.8% per year) and Taiwan (Chinese) (-18.7% per year).

Import Prices by Country

In 2021, the average synthetic filament tow import price amounted to $X per ton, picking up by 31% against the previous year. Over the period under review, the import price, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2020 when the average import price increased by 56%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per ton), while the price for Vietnam ($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 Netherlands (+23.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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