South Africa: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in South Africa

In 2021, the South African synthetic filament tow market decreased by -3.5% to $X, falling for the third consecutive year after three years of growth. Over the period under review, consumption showed a pronounced reduction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Synthetic Filament Tow Production in South Africa

In value terms, synthetic filament tow production totaled $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 18% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Synthetic Filament Tow Exports

Exports from South Africa

In 2021, approx. X tons of synthetic filament tow and staple fibers, not carded or combed were exported from South Africa; with an increase of 14% against 2020 figures. Over the period under review, exports posted a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 63% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, synthetic filament tow exports skyrocketed to $X in 2021. Overall, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 55%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in years to come.

Exports by Country

Mozambique (X tons) was the main destination for synthetic filament tow exports from South Africa, accounting for a 25% share of total exports. Moreover, synthetic filament tow exports to Mozambique exceeded the volume sent to the second major destination, Poland (X tons), twofold. The UK (X tons) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume to Mozambique stood at +66.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+95.9% per year) and the UK (+139.2% per year).

In value terms, Mozambique ($X) remains the key foreign market for synthetic filament tow exports from South Africa, comprising 34% of total exports. The second position in the ranking was held by Nigeria ($X), with a 14% share of total exports. It was followed by Kenya, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value to Mozambique totaled +64.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+66.7% per year) and Kenya (+3.2% per year).

Export Prices by Country

The average synthetic filament tow export price stood at $X per ton in 2021, increasing by 19% against the previous year. Overall, the export price, however, saw a noticeable setback. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Nigeria ($X per ton), while the average price for exports to the United States ($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 Bulgaria (+0.2%), while the prices for the other major destinations experienced a decline.

Synthetic Filament Tow Imports

Imports into South Africa

In 2021, overseas purchases of synthetic filament tow and staple fibers, not carded or combed decreased by -4% to X tons, falling for the second consecutive year after two years of growth. Overall, imports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2016 with an increase of 5.8% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, synthetic filament tow imports expanded notably to $X in 2021. In general, imports showed a perceptible downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 24% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

South Korea (X tons), China (X tons) and Japan (X tons) were the main suppliers of synthetic filament tow imports to South Africa, with a combined 63% share of total imports. These countries were followed by Taiwan (Chinese), India, Portugal, Vietnam, Turkey, Peru and Thailand, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +104.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and China ($X) constituted the largest synthetic filament tow suppliers to South Africa, with a combined 65% share of total imports. Taiwan (Chinese), Portugal, India, Turkey, Vietnam, Peru and Thailand lagged somewhat behind, together accounting for a further 22%.

Vietnam, with a CAGR of +94.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average synthetic filament tow import price stood at $X per ton in 2021, picking up by 12% against the previous year. Overall, the import price recorded a mild expansion. The pace of growth was the most pronounced in 2018 when the average import price increased by 18%. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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