Synthetic Filament Tow Market

The article provides a detailed analysis of the global market for synthetic filament tow and staple fibers, not carded or combed. It projects an upward consumption trend with an anticipated volume of 13M tons and a market value of $31.9B by 2030. The top consuming countries, production trends, import and export patterns, as well as pricing fluctuations, are examined. The data highlights key growth rates, market sizes, and value distributions among major players in the industry. Overall, the analysis paints a comprehensive picture of the market dynamics and trends driving the growth of synthetic filament tow and staple fibers worldwide.

Market Forecast

Driven by increasing demand for synthetic filament tow and staple fibers, not carded or combed worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.5% for the period from 2022 to 2030, which is projected to bring the market volume to 13M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.9% for the period from 2022 to 2030, which is projected to bring the market value to $31.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Synthetic Filament Tow And Staple Fibers, Not Carded Or Combed

Global synthetic filament tow consumption fell to 11M tons in 2022, standing approx. at the year before. The total consumption volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, global consumption attained the maximum volume at 12M tons in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

The global synthetic filament tow market size was estimated at $23.5B in 2022, almost unchanged from 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 +1.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $26.5B. From 2019 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (2.1M tons), the United States (1.3M tons) and Japan (502K tons), together comprising 36% of global consumption. Indonesia, Nigeria, Turkey, South Korea, Germany, Brazil, India, Thailand, France and Italy lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Thailand (with a CAGR of +7.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($4.6B), China ($2.6B) and Japan ($2.1B) constituted the countries with the highest levels of market value in 2022, together comprising 40% of the global market. France, Germany, Turkey, Italy, Indonesia, Brazil, India, Nigeria, South Korea and Thailand lagged somewhat behind, together accounting for a further 24%.

Thailand, with a CAGR of +4.7%, recorded the highest growth rate of market size in terms of 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 synthetic filament tow per capita consumption in 2022 were South Korea (5.1 kg per person), Japan (4 kg per person) and the United States (3.9 kg per person).

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +7.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Synthetic Filament Tow And Staple Fibers, Not Carded Or Combed

Global synthetic filament tow production dropped modestly to 11M tons in 2022, leveling off at the previous year's figure. The total output volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 with an increase of 11%. Global production peaked at 11M tons in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In value terms, synthetic filament tow production declined to $21.9B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by 31% against the previous year. As a result, production attained the peak level of $28.2B. From 2019 to 2022, global production growth remained at a lower figure.

Production By Country

China (3M tons) constituted the country with the largest volume of synthetic filament tow production, accounting for 28% of total volume. Moreover, synthetic filament tow production in China exceeded the figures recorded by the second-largest producer, South Korea (1M tons), threefold. The United States (835K tons) ranked third in terms of total production with a 7.6% share.

In China, synthetic filament tow production expanded at an average annual rate of +3.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+1.6% per year) and the United States (-0.4% per year).

Imports

World Imports of Synthetic Filament Tow And Staple Fibers, Not Carded Or Combed

In 2022, the amount of synthetic filament tow and staple fibers, not carded or combed imported worldwide dropped to 4.7M tons, which is down by -11.8% compared with the previous year's figure. The total import volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 8.5%. As a result, imports reached the peak of 5.3M tons, and then declined in the following year.

In value terms, synthetic filament tow imports totaled $9.5B in 2022. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 28%. Global imports peaked at $9.8B in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, the United States (563K tons), followed by Vietnam (327K tons), Turkey (294K tons), Germany (270K tons) and China (227K tons) were the major importers of synthetic filament tow and staple fibers, not carded or combed, together creating 36% of total imports. The following importers - Indonesia (193K tons), Italy (192K tons), Bangladesh (163K tons), Brazil (161K tons), the UK (140K tons), Spain (137K tons), Poland (126K tons) and India (125K tons) - together made up 27% of total imports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +10.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest synthetic filament tow importing markets worldwide were the United States ($1B), Germany ($657M) and Turkey ($604M), together comprising 24% of global imports. China, Italy, Vietnam, Indonesia, Brazil, Spain, the UK, India, Bangladesh and Poland lagged somewhat behind, together comprising a further 35%.

Brazil, with a CAGR of +8.9%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

Synthetic staple fibres, not carded, combed or otherwise processed for spinning prevails in imports structure, finishing at 4.3M tons, which was approx. 93% of total imports in 2022. It was distantly followed by synthetic filament tow (331K tons), generating a 7.1% share of total imports.

Synthetic staple fibres, not carded, combed or otherwise processed for spinning was also the fastest-growing in terms of imports, with a CAGR of +1.8% from 2012 to 2022. synthetic filament tow (-2.7%) illustrated a downward trend over the same period. Synthetic staple fibres, not carded, combed or otherwise processed for spinning (+3.6 p.p.) significantly strengthened its position in terms of the global imports, while synthetic filament tow saw its share reduced by -3.6% from 2012 to 2022, respectively.

In value terms, synthetic staple fibres, not carded, combed or otherwise processed for spinning ($8.4B) constitutes the largest type of synthetic filament tow and staple fibers, not carded or combed imported worldwide, comprising 88% of global imports. The second position in the ranking was held by synthetic filament tow ($1.1B), with a 12% share of global imports.

For synthetic staple fibres, not carded, combed or otherwise processed for spinning, imports remained relatively stable over the period from 2012-2022.

Import Prices By Type

In 2022, the average synthetic filament tow import price amounted to $2,038 per ton, rising by 14% against the previous year. Overall, the import price, however, continues to indicate a slight slump. The most prominent rate of growth was recorded in 2021 when the average import price increased by 18% against the previous year. Over the period under review, average import prices reached the maximum at $2,257 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by the product type; the product with the highest price was synthetic filament tow ($3,430 per ton), while the price for synthetic staple fibres, not carded, combed or otherwise processed for spinning stood at $1,932 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by synthetic filament tow (+1.1%).

Import Prices By Country

The average synthetic filament tow import price stood at $2,038 per ton in 2022, with an increase of 14% against the previous year. Over the period under review, the import price, however, saw a slight slump. The most prominent rate of growth was recorded in 2021 an increase of 18% against the previous year. Over the period under review, average import prices hit record highs at $2,257 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($2,435 per ton), while Vietnam ($1,282 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+0.9%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Synthetic Filament Tow And Staple Fibers, Not Carded Or Combed

After three years of growth, shipments abroad of synthetic filament tow and staple fibers, not carded or combed decreased by -11.5% to 4.7M tons in 2022. The total export volume increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 10% against the previous year. As a result, the exports attained the peak of 5.4M tons, and then dropped in the following year.

In value terms, synthetic filament tow exports reduced to $8.6B in 2022. Overall, exports, however, continue to indicate slight growth. The growth pace was the most rapid in 2021 when exports increased by 30%. As a result, the exports attained the peak of $9.1B, and then dropped in the following year.

Exports By Country

In 2022, China (1.2M tons), distantly followed by South Korea (755K tons), Thailand (433K tons), India (278K tons), Taiwan (Chinese) (263K tons) and Indonesia (216K tons) represented the largest exporters of synthetic filament tow and staple fibers, not carded or combed, together constituting 66% of total exports. Vietnam (191K tons), Turkey (165K tons), Malaysia (160K tons), Belgium (156K tons), Japan (149K tons), Germany (114K tons) and the United States (87K tons) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +24.8%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($1.6B), South Korea ($1.1B) and Thailand ($670M) appeared to be the countries with the highest levels of exports in 2022, with a combined 40% share of global exports. Japan, Belgium, Taiwan (Chinese), Germany, India, the United States, Malaysia, Turkey, Indonesia and Vietnam lagged somewhat behind, together accounting for a further 43%.

Germany, with a CAGR of +16.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Synthetic staple fibres, not carded, combed or otherwise processed for spinning prevails in exports structure, reaching 4.4M tons, which was approx. 93% of total exports in 2022. It was distantly followed by synthetic filament tow (328K tons), comprising a 6.9% share of total exports.

Synthetic staple fibres, not carded, combed or otherwise processed for spinning was also the fastest-growing in terms of exports, with a CAGR of +2.4% from 2012 to 2022. At the same time, synthetic filament tow (+1.5%) displayed positive paces of growth. The shares of the largest types remained relatively stable throughout the analyzed period.

In value terms, synthetic staple fibres, not carded, combed or otherwise processed for spinning ($7.5B) remains the largest type of synthetic filament tow and staple fibers, not carded or combed supplied worldwide, comprising 87% of global exports. The second position in the ranking was taken by synthetic filament tow ($1.2B), with a 13% share of global exports.

For synthetic staple fibres, not carded, combed or otherwise processed for spinning, exports remained relatively stable over the period from 2012-2022.

Export Prices By Type

In 2022, the average synthetic filament tow export price amounted to $1,822 per ton, rising by 7% against the previous year. Overall, the export price, however, saw a mild descent. The pace of growth was the most pronounced in 2021 an increase of 19% against the previous year. The global export price peaked at $2,085 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the product type; the product with the highest price was synthetic filament tow ($3,539 per ton), while the average price for exports of synthetic staple fibres, not carded, combed or otherwise processed for spinning stood at $1,694 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by synthetic filament tow (+0.3%).

Export Prices By Country

The average synthetic filament tow export price stood at $1,822 per ton in 2022, picking up by 7% against the previous year. Overall, the export price, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2021 an increase of 19% against the previous year. The global export price peaked at $2,085 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($4,412 per ton), while Vietnam ($993 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform