Vietnam: Market for High-Tenacity Filament Yarn Of Polyesters 2024

Market Size for High-Tenacity Filament Yarn Of Polyesters in Vietnam

In 2021, the Vietnamese high-tenacity filament polyester yarn market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, recorded a perceptible curtailment. High-tenacity filament polyester yarn consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of High-Tenacity Filament Yarn Of Polyesters in Vietnam

In value terms, high-tenacity filament polyester yarn production shrank dramatically to $X in 2021 estimated in export price. Overall, production faced a abrupt decline. The pace of growth was the most pronounced in 2015 when the production volume decreased by -12.6%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of High-Tenacity Filament Yarn Of Polyesters

Exports from Vietnam

After seven years of growth, shipments abroad of high-tenacity filament yarn of polyesters decreased by -41.7% to X tons in 2021. Over the period under review, exports, however, saw a significant expansion. The growth pace was the most rapid in 2014 with an increase of 140% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then dropped significantly in the following year.

In value terms, high-tenacity filament polyester yarn exports declined rapidly to $X in 2021. In general, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 111% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons), the United States (X tons) and South Korea (X tons) were the main destinations of high-tenacity filament polyester yarn exports from Vietnam, with a combined 66% share of total exports. India, Germany, Italy, Indonesia, Denmark, Japan, Turkey, Romania and Mexico lagged somewhat behind, together comprising a further 26%.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +2,516.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and South Korea ($X) were the largest markets for high-tenacity filament polyester yarn exported from Vietnam worldwide, with a combined 63% share of total exports. These countries were followed by India, Germany, Indonesia, Denmark, Japan, Italy, Turkey, Romania and Mexico, which together accounted for a further 29%.

In terms of the main countries of destination, Denmark, with a CAGR of +2,188.1%, 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

In 2021, the average high-tenacity filament polyester yarn export price amounted to $X per ton, picking up by 5.3% against the previous year. Over the period under review, the export price, however, showed a abrupt setback. The growth pace was the most rapid in 2013 when the average export price increased by 6.3%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Turkey ($X per ton), while the average price for exports to Italy ($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 Turkey (+0.5%), while the prices for the other major destinations experienced a decline.

Imports of High-Tenacity Filament Yarn Of Polyesters

Imports into Vietnam

In 2021, the amount of high-tenacity filament yarn of polyesters imported into Vietnam stood at X tons, standing approx. at the previous year. In general, imports showed a significant expansion. The growth pace was the most rapid in 2016 when imports increased by 226%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, high-tenacity filament polyester yarn imports expanded notably to $X in 2021. Over the period under review, imports saw a significant increase. The pace of growth appeared the most rapid in 2016 when imports increased by 247%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest high-tenacity filament polyester yarn supplier to Vietnam, with a 81% share of total imports. Moreover, high-tenacity filament polyester yarn imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), sixfold. The third position in this ranking was taken by Thailand (X tons), with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +38.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+7.0% per year) and Thailand (+9.0% per year).

In value terms, China ($X) constituted the largest supplier of high-tenacity filament yarn of polyesters to Vietnam, comprising 74% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 15% share of total imports. It was followed by Thailand, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +34.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+7.2% per year) and Thailand (+14.0% per year).

Import Prices by Country

The average high-tenacity filament polyester yarn import price stood at $X per ton in 2021, with an increase of 7.2% against the previous year. Overall, the import price, however, continues to indicate a slight setback. The most prominent rate of growth was recorded in 2018 when the average import price increased by 12%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Thailand ($X per ton), while the price for China ($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 (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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