Thailand: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Thailand

In 2021, the Thai synthetic filament tow market decreased by -6.9% to $X, falling for the third year in a row after three years of growth. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Synthetic Filament Tow Production in Thailand

In value terms, synthetic filament tow production reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 21%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Synthetic Filament Tow Exports

Exports from Thailand

In 2021, the amount of synthetic filament tow and staple fibers, not carded or combed exported from Thailand contracted to X tons, reducing by -2.4% against 2020. Over the period under review, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +72.1% against 2012 indices. The pace of growth appeared the most rapid in 2020 with an increase of 19% against the previous year. As a result, the exports attained the peak of X tons, and then shrank slightly in the following year.

In value terms, synthetic filament tow exports surged to $X in 2021. The total export value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 28%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons), Indonesia (X tons) and China (X tons) were the main destinations of synthetic filament tow exports from Thailand, together accounting for 40% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +28.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Indonesia ($X) and China ($X) were the largest markets for synthetic filament tow exported from Thailand worldwide, with a combined 42% share of total exports.

The United States, with a CAGR of +23.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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, surging by 29% against the previous year. Overall, the export price, however, saw a perceptible setback. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Nepal ($X per ton), while the average price for exports to Spain ($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 Malaysia (+3.0%), while the prices for the other major destinations experienced a decline.

Synthetic Filament Tow Imports

Imports into Thailand

After two years of decline, supplies from abroad of synthetic filament tow and staple fibers, not carded or combed increased by 15% to X tons in 2021. In general, imports, however, continue to indicate a mild curtailment. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, synthetic filament tow imports surged to $X in 2021. Over the period under review, imports, however, saw a perceptible shrinkage. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons) were the main suppliers of synthetic filament tow imports to Thailand, with a combined 77% share of total imports. These countries were followed by Indonesia, Japan, Malaysia, the United States, India and Vietnam, which together accounted for a further 21%.

From 2012 to 2021, the biggest increases were in the United States (with a CAGR of +13.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic filament tow suppliers to Thailand were China ($X), Taiwan (Chinese) ($X) and South Korea ($X), with a combined 68% share of total imports. Japan, Indonesia, the United States, Malaysia, India and Vietnam lagged somewhat behind, together accounting for a further 26%.

The United States, with a CAGR of +12.0%, 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 a decline.

Import Prices by Country

In 2021, the average synthetic filament tow import price amounted to $X per ton, picking up by 13% against the previous year. Overall, the import price, however, continues to indicate a pronounced decrease. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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