Southern Asia: Market for High-Tenacity Filament Yarn Of Aramids 2024

Market Size for High-Tenacity Filament Yarn Of Aramids in Southern Asia

The South Asian high-tenacity filament aramids yarn market shrank dramatically to $X in 2022, reducing by -23.3% against the previous year. Overall, consumption, however, posted strong growth. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of High-Tenacity Filament Yarn Of Aramids in Southern Asia

In value terms, high-tenacity filament aramids yarn production stood at $X in 2022 estimated in export price. The total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +18.5% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 42%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports in Southern Asia

In 2022, high-tenacity filament aramids yarn exports in Southern Asia soared to X tons, rising by 55% compared with 2021. Over the period under review, exports posted significant growth. The growth pace was the most rapid in 2013 with an increase of 732%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, high-tenacity filament aramids yarn exports shrank to $X in 2022. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 1,854%. The level of export peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Pakistan was the main exporting country with an export of about X tons, which finished at 67% of total exports. It was distantly followed by India (X tons), comprising a 32% share of total exports. Sri Lanka (X tons) followed a long way behind the leaders.

Exports from Pakistan increased at an average annual rate of +3.1% from 2012 to 2022. At the same time, Sri Lanka (+35.7%) and India (+35.6%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +35.7% from 2012-2022. Pakistan (+67 p.p.) significantly strengthened its position in terms of the total exports, while Sri Lanka and India saw its share reduced by -3.1% and -62.7% from 2012 to 2022, respectively.

In value terms, Pakistan ($X), India ($X) and Sri Lanka ($X) were the countries with the highest levels of exports in 2022, together accounting for 100% of total exports.

Among the main exporting countries, India, with a CAGR of +39.9%, recorded 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 export price in Southern Asia stood at $X per ton in 2022, which is down by -42% against the previous year. Overall, the export price saw a pronounced shrinkage. The pace of growth was the most pronounced in 2016 an increase of 316%. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+7.6%), while the other leaders experienced more modest paces of growth.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports in Southern Asia

In 2022, approx. X tons of high-tenacity filament yarn of aramids were imported in Southern Asia; rising by 32% compared with the previous year. In general, imports showed a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 79% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, high-tenacity filament aramids yarn imports soared to $X in 2022. Over the period under review, imports showed a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 99%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

India was the main importer of high-tenacity filament yarn of aramids in Southern Asia, with the volume of imports resulting at X tons, which was approx. 80% of total imports in 2022. It was distantly followed by Sri Lanka (X tons), constituting a 16% share of total imports. Pakistan (X tons) and Bangladesh (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to high-tenacity filament aramids yarn imports into India stood at +9.9%. At the same time, Pakistan (+34.9%) and Sri Lanka (+29.4%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +34.9% from 2012-2022. By contrast, Bangladesh (-11.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sri Lanka and Pakistan increased by +13 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Sri Lanka ($X) and Pakistan ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 100% of total imports.

Pakistan, with a CAGR of +36.3%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, picking up by 44% against the previous year. Overall, the import price enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 when the import price increased by 55%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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