Aramids Staple Market

The article provides a comprehensive analysis of the global market for aramids staple, covering key aspects such as consumption, production, imports, and exports. It highlights trends from 2012 to 2022 and offers forecasts for the period up to 2030. Market performance, including consumption volumes and values, production levels, import and export data, and price trends, are all discussed in detail. The analysis includes insights on the leading countries in terms of consumption, production, and trade, as well as notable growth rates and fluctuations in the market. Overall, the article offers valuable information for industry stakeholders looking to understand the current state and future outlook of the aramids staple market.

Market Forecast

Driven by increasing demand for aramids staple worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.3% for the period from 2022 to 2030, which is projected to bring the market volume to 28K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market value to $665M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Aramids Staple

In 2022, consumption of aramids staple increased by 38% to 28K tons for the first time since 2019, thus ending a two-year declining trend. The total consumption volume increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.

The global aramids staple market value skyrocketed to $565M in 2022, jumping by 43% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +5.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked in 2022 and is expected to retain growth in the near future.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the Netherlands (4.5K tons), Turkey (3.6K tons) and the United States (2.5K tons), with a combined 39% share of global consumption. Germany, Belgium, China, Japan, India, Taiwan (Chinese), Pakistan, Spain and Italy lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Pakistan (with a CAGR of +51.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest aramids staple markets worldwide were the Netherlands ($90M), Turkey ($81M) and the United States ($50M), together accounting for 39% of the global market. Germany, Belgium, Japan, China, India, Taiwan (Chinese), Spain, Italy and Pakistan lagged somewhat behind, together comprising a further 43%.

Pakistan, with a CAGR of +69.6%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of aramids staple per capita consumption in 2022 were the Netherlands (260 kg per 1000 persons), Belgium (139 kg per 1000 persons) and Taiwan (Chinese) (46 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +48.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Aramids Staple

Global aramids staple production stood at 20K tons in 2022, growing by 8.5% against the year before. The total output volume increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, production attained the peak volume and is likely to continue growth in the immediate term.

In value terms, aramids staple production shrank slightly to $333M in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 38% against the previous year. Over the period under review, global production reached the maximum level at $339M in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were Spain (4.8K tons), South Korea (3.7K tons) and the Netherlands (2.6K tons), together accounting for 55% of global production. Thailand, China, France and Japan lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by China (with a CAGR of +10.2%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Aramids Staple

Global aramids staple imports soared to 33K tons in 2022, jumping by 22% against 2021 figures. Over the period under review, imports saw resilient growth. The most prominent rate of growth was recorded in 2017 when imports increased by 24% against the previous year. Global imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, aramids staple imports soared to $653M in 2022. Overall, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.3% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, Belgium (6.3K tons), distantly followed by the United States (4K tons), Turkey (3.6K tons), Germany (3K tons), China (2.6K tons) and the Netherlands (2K tons) represented the key importers of aramids staple, together creating 66% of total imports. India (1,249 tons), Taiwan (Chinese) (1,092 tons), Italy (1,055 tons), Pakistan (999 tons), Spain (913 tons), Canada (622 tons) and Japan (546 tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +80.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Belgium ($144M), Turkey ($81M) and the United States ($81M) appeared to be the countries with the highest levels of imports in 2022, together accounting for 47% of global imports.

In terms of the main importing countries, Belgium, with a CAGR of +77.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average aramids staple import price amounted to $19,931 per ton, growing by 4.3% against the previous year. Overall, the import price, however, recorded a mild contraction. The growth pace was the most rapid in 2018 an increase of 5.1%. Global import price peaked at $22,007 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($25,145 per ton), while the Netherlands ($14,810 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+11.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Aramids Staple

In 2022, overseas shipments of aramids staple decreased by -0.5% to 25K tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2017 when exports increased by 44%. The global exports peaked at 25K tons in 2021, and then contracted modestly in the following year.

In value terms, aramids staple exports totaled $518M in 2022. Over the period under review, exports, however, showed a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of 32%. Over the period under review, the global exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports By Country

In 2022, Belgium (5.2K tons), Spain (4.9K tons), South Korea (3.8K tons), China (2.9K tons), the United States (2.3K tons), Thailand (2.1K tons) and France (1.5K tons) was the largest exporter of aramids staple in the world, committing 90% of total export.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +133.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest aramids staple supplying countries worldwide were Belgium ($140M), Spain ($110M) and South Korea ($67M), together accounting for 61% of global exports.

In terms of the main exporting countries, Belgium, with a CAGR of +172.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average aramids staple export price stood at $20,459 per ton in 2022, increasing by 7.6% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 8.3%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($26,895 per ton), while Thailand ($12,247 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+17.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform