Turkey: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Turkey

In 2021, the Turkish synthetic filament tow market increased by 9.3% to $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -32.1% against 2018 indices. Synthetic filament tow consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Synthetic Filament Tow Production in Turkey

In value terms, synthetic filament tow production stood at $X in 2021 estimated in export price. Overall, production, however, enjoyed significant growth. The pace of growth was the most pronounced in 2018 with an increase of 125%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Synthetic Filament Tow Exports

Exports from Turkey

In 2021, shipments abroad of synthetic filament tow and staple fibers, not carded or combed increased by 54% to X tons, rising for the third year in a row after two years of decline. Overall, exports recorded a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of 118%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, synthetic filament tow exports soared to $X in 2021. Over the period under review, exports showed a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons), Spain (X tons) and Germany (X tons) were the main destinations of synthetic filament tow exports from Turkey, together comprising 42% of total exports. Israel, Poland, France, Finland, Russia, Slovenia, Belgium, North Macedonia, the UK and the United States lagged somewhat behind, together comprising a further 44%.

From 2012 to 2021, the biggest increases were in Finland (with a CAGR of +129.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic filament tow exported from Turkey were Italy ($X), Spain ($X) and Germany ($X), with a combined 43% share of total exports. These countries were followed by Israel, Poland, France, Finland, Slovenia, Russia, the UK, Belgium, the United States and North Macedonia, which together accounted for a further 42%.

Among the main countries of destination, Finland, with a CAGR of +111.8%, recorded the highest rates of growth with regard to 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

In 2021, the average synthetic filament tow export price amounted to $X per ton, growing by 30% against the previous year. Overall, the export price, however, showed a pronounced decline. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2021, the highest price was recorded for prices to the UK ($X per ton) and Slovenia ($X per ton), while the average price for exports to Russia ($X per ton) and Israel ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (-1.1%), while the prices for the other major destinations experienced a decline.

Synthetic Filament Tow Imports

Imports into Turkey

In 2021, purchases abroad of synthetic filament tow and staple fibers, not carded or combed was finally on the rise to reach X tons after three years of decline. The total import volume increased at an average annual rate of +4.3% over the period 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 2017 when imports increased by 18%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, synthetic filament tow imports soared to $X in 2021. Over the period under review, imports showed a mild increase. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tons), India (X tons) and South Korea (X tons) were the main suppliers of synthetic filament tow imports to Turkey, together comprising 46% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +36.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Malaysia ($X) and South Korea ($X) constituted the largest synthetic filament tow suppliers to Turkey, with a combined 42% share of total imports.

South Korea, with a CAGR of +34.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average synthetic filament tow import price amounted to $X per ton, with an increase of 32% against the previous year. Overall, the import price, however, continues to indicate a noticeable shrinkage. The import price peaked at $X per ton in 2012; however, from 2013 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 Spain ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+25.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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