Egypt: Synthetic Yarn Market 2024

Synthetic Yarn Market Size in Egypt

The Egyptian synthetic yarn market rose notably to $X in 2023, surging by X% against the previous year. In general, consumption saw a prominent expansion. Over the period under review, the market reached the peak level in 2023 and is expected to retain growth in years to come.

Synthetic Yarn Production in Egypt

In value terms, synthetic yarn production expanded markedly to $X in 2023 estimated in export price. In general, production continues to indicate resilient growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

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Synthetic Yarn Exports

Exports from Egypt

For the third consecutive year, Egypt recorded growth in shipments abroad of yarn of synthetic or artificial staple fibers, which increased by X% to X tons in 2023. Overall, exports saw buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports reached the peak figure in 2023 and are expected to retain growth in the immediate term.

In value terms, synthetic yarn exports stood at $X in 2023. In general, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the near future.

Exports by Country

Turkey (X tons) was the main destination for synthetic yarn exports from Egypt, with a X% share of total exports. Moreover, synthetic yarn exports to Turkey exceeded the volume sent to the second major destination, Syrian Arab Republic (X tons), tenfold. Uganda (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Turkey totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Syrian Arab Republic (X% per year) and Uganda (X% per year).

In value terms, Turkey ($X) remains the key foreign market for yarn of synthetic or artificial staple fibers exports from Egypt, comprising X% of total exports. The second position in the ranking was taken by Syrian Arab Republic ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Turkey stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Syrian Arab Republic (X% per year) and the United States (X% per year).

Export Prices by Country

In 2023, the average synthetic yarn export price amounted to $X per ton, which is down by X% against the previous year. In general, the export price showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2023, the average export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2023, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and Italy ($X per ton), while the average price for exports to Turkey ($X per ton) and Syrian Arab Republic ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Yarn Imports

Imports into Egypt

In 2023, overseas purchases of yarn of synthetic or artificial staple fibers increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports showed resilient growth. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2023, imports remained at a lower figure.

In value terms, synthetic yarn imports dropped rapidly to $X in 2023. Overall, total imports indicated a pronounced increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2022 with an increase of X%. As a result, imports attained the peak of $X, and then fell markedly in the following year.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of synthetic yarn to Egypt, accounting for a X% share of total imports. Moreover, synthetic yarn imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), threefold. The third position in this ranking was held by India (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and India (X% per year).

In value terms, China ($X) constituted the largest supplier of yarn of synthetic or artificial staple fibers to Egypt, comprising X% of total imports. The second position in the ranking was held by Indonesia ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and India (X% per year).

Import Prices by Country

The average synthetic yarn import price stood at $X per ton in 2023, declining by X% against the previous year. Over the period under review, the import price faced a abrupt curtailment. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform