South-Eastern Asia: Artificial Staple Fibre Market 2024

Artificial Staple Fibre Market Size in South-Eastern Asia

In 2021, after two years of growth, there was significant decline in the Southeast Asian artificial staple fibre market, when its value decreased by -21.7% to $X. Over the period under review, consumption recorded a abrupt decrease. 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.

Artificial Staple Fibre Production in South-Eastern Asia

In value terms, artificial staple fibre production contracted rapidly to $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2020 when the production volume increased by 78% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Artificial Staple Fibre Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of artificial staple fibres increased by 102% to X tons, rising for the second consecutive year after four years of decline. Overall, exports saw a slight expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 107%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, artificial staple fibre exports soared to $X in 2021. In general, exports, however, continue to indicate a abrupt decrease. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia was the largest exporting country with an export of around X tons, which reached 83% of total exports. Malaysia (X tons) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (5.9%).

From 2012 to 2021, average annual rates of growth with regard to artificial staple fibre exports from Indonesia stood at +1.5%. At the same time, Malaysia (+24.3%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +24.3% from 2012-2021. By contrast, Vietnam (-6.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Malaysia increased by +9.2 percentage points.

In value terms, Indonesia ($X) remains the largest artificial staple fibre supplier in South-Eastern Asia, comprising 76% of total exports. The second position in the ranking was held by Malaysia ($X), with a 14% share of total exports.

In Indonesia, artificial staple fibre exports shrank by an average annual rate of -5.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+14.5% per year) and Vietnam (+3.5% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, reducing by -12.2% against the previous year. Overall, the export price recorded a drastic downturn. The most prominent rate of growth was recorded in 2019 an increase of 13%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+10.7%), while the other leaders experienced a decline in the export price figures.

Artificial Staple Fibre Imports

Imports in South-Eastern Asia

In 2021, approx. X tons of artificial staple fibres were imported in South-Eastern Asia; increasing by 1.9% compared with 2020 figures. Over the period under review, imports, however, continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2016 with an increase of 43%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, artificial staple fibre imports contracted to $X in 2021. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 78%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Cambodia was the largest importer of artificial staple fibres in South-Eastern Asia, with the volume of imports accounting for X tons, which was near 51% of total imports in 2021. Vietnam (X tons) took a 28% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (10%) and the Philippines (6%). Malaysia (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cambodia (with a CAGR of +25.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X), Vietnam ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 92% of total imports.

In terms of the main importing countries, Cambodia, with a CAGR of +29.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, reducing by -5.3% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2015 an increase of 29%. The level of import peaked at $X per ton in 2020, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Thailand ($X per ton), while the Philippines ($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 (+17.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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