Artificial and Synthetic Fiber Market - Chinese Supplies of Artificial and Synthetic Fibers and Filaments Increase, While Total U.S. Imports Diminish

Man-Made Fibres July 14, 2016
Author: Irina Andreeva
Market Analyst

artificial and synthetic fiber market

Photo: © photobee / Bigstockphoto

The U.S. takes a 7% share (based on USD) of imports on the artificial and synthetic fibers market, which put it in the third place, following China (10%) and Turkey (8%). In 2015, U.S. artificial and synthetic fiber and filament imports totaled 2,676 million USD, which was 21 million USD (1%) above the previous year's value.

From 2007 to 2015, U.S. artificial and synthetic fiber and filament imports showed mixed dynamics. A significant drop in 2009 was followed by a rebound over the next two years, until imports decreased again over 2012-2013 and then stabilized through to the end of the period.

In 2011, U.S. artificial and synthetic fiber and filament imports surpassed their pre-recession level of 2007. However, after flattening over 2013-2015, imports remained only slightly above their pre-recession level.

Despite the slowdown in the growth of imports, the U.S. continues to be one of the biggest markets for global exporters.

China, Korea, and Canada were the main suppliers of artificial and synthetic fibers and filaments into the U.S., with a combined share of 44% of total U.S. imports in 2015. China was the fastest growing supplier (+10.2% per year) from 2007 to 2015, while the import from Canada declined by -5.1% per year. Import from Korea remained relatively stable. China significantly strengthened its position in the U.S. import structure, from 11% in 2007 to 22% in 2015. By contrast, Canada saw its share reduced by -5 percentage points, down to 10%.

U.S. trade balance in this sector fluctuated wildly over the period under review, with several transitions from a deficit to a surplus. However, the amplitude of these fluctuations was insignificant, with the highest surplus of 348 million USD recorded in 2007 and the largest deficit of 243 million USD tracked in 2013. Finally, there was a surplus of 200 million USD in 2015.

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Source: U.S. Artificial And Synthetic Fibers And Filaments Market. Analysis And Forecast to 2020