Artificial Filament Tow Market

The global artificial filament tow market is anticipated to see a steady growth in consumption over the next eight years, with a projected CAGR of +4.1% from 2022 to 2030. Market volume is expected to reach 1.2M tons by the end of 2030, with a corresponding increase in market value to $6.6B. The market experienced fluctuations in consumption and production volumes over the analyzed period, with noticeable growth in certain countries like the UK. Imports and exports also saw fluctuations in volume and value, with countries like the United States, Germany, and Belgium being major players in exports. Average prices for artificial filament tow showed variations by country, with Singapore having the highest export price in 2022. Overall, the market is expected to continue growing, driven by increasing demand worldwide.

Market Forecast

Driven by increasing demand for artificial filament tow 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 +4.1% for the period from 2022 to 2030, which is projected to bring the market volume to 1.2M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.8% for the period from 2022 to 2030, which is projected to bring the market value to $6.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Artificial Filament Tow

In 2022, global consumption of artificial filament tow totaled 843K tons, surging by 3% compared with 2021. In general, the total consumption indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.7% against 2020 indices. Global consumption peaked at 862K tons in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

The global artificial filament tow market size expanded rapidly to $3.9B in 2022, increasing by 5.8% 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 +2.6% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2016 when the market value increased by 9.1%. Over the period under review, the global market reached the peak level at $4B in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Russia (158K tons), Japan (101K tons) and the United States (100K tons), together accounting for 43% of global consumption. Romania, Indonesia, the UK, Turkey, Poland, Belgium, Nigeria, the Netherlands, South Korea and Vietnam lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by the UK (with a CAGR of +36.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest artificial filament tow markets worldwide were Russia ($755M), Japan ($443M) and the United States ($408M), together comprising 41% of the global market. Romania, Indonesia, Turkey, Poland, Nigeria, Belgium, the Netherlands, South Korea, Vietnam and the UK lagged somewhat behind, together accounting for a further 35%.

Among the main consuming countries, the UK, with a CAGR of +36.2%, saw the highest growth rate of market size 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 artificial filament tow per capita consumption in 2022 were Romania (3,198 kg per 1000 persons), Belgium (2,140 kg per 1000 persons) and Russia (1,100 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by the UK (with a CAGR of +35.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Artificial Filament Tow

Global artificial filament tow production fell to 757K tons in 2022, which is down by -3.4% against the previous year's figure. The total output volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the production volume increased by 16% against the previous year. Over the period under review, global production hit record highs at 784K tons in 2021, and then dropped in the following year.

In value terms, artificial filament tow production reduced to $3.1B in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 15% against the previous year. Global production peaked at $3.4B in 2021, and then shrank in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were the United States (239K tons), Russia (154K tons) and Japan (101K tons), together comprising 65% of global production.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +10.8%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Artificial Filament Tow

Global artificial filament tow imports expanded remarkably to 412K tons in 2022, picking up by 12% compared with the previous year. Overall, imports, however, showed a noticeable setback. Over the period under review, global imports hit record highs at 513K tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, artificial filament tow imports soared to $2B in 2022. Over the period under review, imports, however, showed a pronounced decline. Global imports peaked at $2.9B in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, Indonesia (46K tons), followed by Poland (28K tons), Turkey (28K tons), the Netherlands (26K tons) and Nigeria (23K tons) were the main importers of artificial filament tow, together comprising 37% of total imports. Vietnam (17K tons), Romania (16K tons), the United Arab Emirates (16K tons), South Korea (13K tons), India (11K tons), Lithuania (11K tons), the Philippines (9.7K tons) and China (8.8K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the United Arab Emirates (with a CAGR of +16.8%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest artificial filament tow importing markets worldwide were Indonesia ($234M), Poland ($133M) and Turkey ($129M), together accounting for 25% of global imports. The Netherlands, Nigeria, Vietnam, Romania, South Korea, the United Arab Emirates, India, Lithuania, the Philippines and China lagged somewhat behind, together comprising a further 36%.

Among the main importing countries, the United Arab Emirates, with a CAGR of +13.4%, recorded the highest rates of growth with regard to 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

The average artificial filament tow import price stood at $4,770 per ton in 2022, with an increase of 5.6% against the previous year. Over the period under review, the import price, however, recorded a mild reduction. The pace of growth was the most pronounced in 2013 an increase of 9.4% against the previous year. Over the period under review, average import prices reached the maximum at $5,987 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in China ($5,286 per ton) and Indonesia ($5,050 per ton), while the United Arab Emirates ($4,135 per ton) and the Netherlands ($4,475 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+1.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Artificial Filament Tow

In 2022, the amount of artificial filament tow exported worldwide contracted slightly to 326K tons, reducing by -2.2% against the previous year's figure. In general, exports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2020 with an increase of 21%. Over the period under review, the global exports attained the maximum at 531K tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, artificial filament tow exports totaled $1.5B in 2022. Overall, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 14% against the previous year. Over the period under review, the global exports hit record highs at $3B in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports By Country

The United States was the main exporting country with an export of around 140K tons, which resulted at 43% of total exports. Germany (64K tons) ranks second in terms of the total exports with a 20% share, followed by Belgium (11%), China (8.5%) and the Netherlands (6.3%). South Korea (13K tons) and Singapore (5.5K tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to artificial filament tow exports from the United States stood at -3.2%. At the same time, the Netherlands (+40.8%), China (+21.9%) and Singapore (+9.0%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +40.8% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, South Korea (-5.1%) and Belgium (-5.3%) illustrated a downward trend over the same period. China (+7.8 p.p.), the Netherlands (+6.2 p.p.), Germany (+5.8 p.p.) and the United States (+4.7 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($596M), Germany ($334M) and Belgium ($158M) appeared to be the countries with the highest levels of exports in 2022, with a combined 72% share of global exports. China, the Netherlands, South Korea and Singapore lagged somewhat behind, together accounting for a further 21%.

Among the main exporting countries, the Netherlands, with a CAGR of +37.1%, recorded the highest rates of growth with regard to 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 artificial filament tow export price stood at $4,630 per ton in 2022, picking up by 11% against the previous year. Overall, the export price, however, continues to indicate a mild contraction. The global export price peaked at $5,969 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($6,542 per ton), while South Korea ($4,169 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-0.6%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform