U.S.: Market for Artificial And Synthetic Fibers And Filaments 2024

Market Size for Artificial And Synthetic Fibers And Filaments in the U.S.

In 2023, after two years of growth, there was significant decline in the U.S. artificial and synthetic fiber market, when its value decreased by X% to $X. In general, consumption saw a noticeable curtailment. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Production of Artificial And Synthetic Fibers And Filaments in the U.S.

In value terms, artificial and synthetic fiber production stood at $X in 2023. Overall, production, however, saw a perceptible contraction. The pace of growth appeared the most rapid in 2019 when the production volume increased by X% against the previous year. Artificial and synthetic fiber production peaked at $X in 2013; however, from 2014 to 2023, production failed to regain momentum.

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Exports of Artificial And Synthetic Fibers And Filaments

Exports from the U.S.

In 2023, shipments abroad of artificial and synthetic fibers and filaments decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, showed slight growth. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, artificial and synthetic fiber exports rose notably to $X in 2023. Overall, exports continue to indicate a pronounced downturn. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

Exports by Country

Mexico (X tons), the Netherlands (X tons) and Canada (X tons) were the main destinations of artificial and synthetic fiber exports from the United States, with a combined X% share of total exports. China, South Korea, Indonesia, the United Arab Emirates, Belgium, Poland, India, El Salvador, Italy and Vietnam lagged somewhat behind, together accounting for a further X%.

From 2013 to 2023, the biggest increases were recorded for Poland (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for artificial and synthetic fiber exported from the United States were Mexico ($X), the Netherlands ($X) and Canada ($X), with a combined X% share of total exports. Belgium, China, South Korea, Indonesia, the United Arab Emirates, Poland, India, Vietnam, El Salvador and Italy lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average artificial and synthetic fiber export price stood at $X per ton in 2023, increasing by X% against the previous year. In general, the export price, however, saw a perceptible setback. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Artificial And Synthetic Fibers And Filaments

Imports into the U.S.

In 2023, purchases abroad of artificial and synthetic fibers and filaments decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2022, and then declined in the following year.

In value terms, artificial and synthetic fiber imports fell dramatically to $X in 2023. Over the period under review, imports showed a mild contraction. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2022, and then reduced remarkably in the following year.

Imports by Country

South Korea (X tons), China (X tons) and Thailand (X tons) were the main suppliers of artificial and synthetic fiber imports to the United States, with a combined X% share of total imports. Vietnam, India, Indonesia, Germany, Taiwan (Chinese), Japan, Turkey, Mexico and Canada lagged somewhat behind, together comprising a further X%.

From 2013 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest artificial and synthetic fiber suppliers to the United States were South Korea ($X), Germany ($X) and China ($X), with a combined X% share of total imports. Japan, Thailand, Vietnam, India, Indonesia, Mexico, Turkey, Canada and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Vietnam, with a CAGR of X%, recorded the highest growth rate of 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

The average artificial and synthetic fiber import price stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the import price recorded a noticeable slump. The pace of growth was the most pronounced in 2022 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform