Malaysia: Synthetic Yarn Market 2024

Synthetic Yarn Market Size in Malaysia

After two years of growth, the Malaysian synthetic yarn market decreased by X% to $X in 2023. In general, consumption showed a slight curtailment. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2023, consumption remained at a lower figure.

Synthetic Yarn Production in Malaysia

In value terms, synthetic yarn production declined to $X in 2023 estimated in export price. Overall, production recorded a abrupt decline. The pace of growth was the most pronounced in 2022 when the production volume increased by X% against the previous year. Synthetic yarn production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

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Synthetic Yarn Exports

Exports from Malaysia

In 2023, after two years of growth, there was significant decline in overseas shipments of yarn of synthetic or artificial staple fibers, when their volume decreased by X% to X tons. Overall, exports continue to indicate a dramatic setback. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, synthetic yarn exports reduced remarkably to $X in 2023. Over the period under review, exports faced a precipitous descent. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Kenya (X tons) was the main destination for synthetic yarn exports from Malaysia, with a X% share of total exports. Moreover, synthetic yarn exports to Kenya exceeded the volume sent to the second major destination, South Africa (X tons), twofold. Japan (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual growth rate of volume to Kenya totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (X% per year) and Japan (X% per year).

In value terms, Japan ($X) remains the key foreign market for yarn of synthetic or artificial staple fibers exports from Malaysia, comprising X% of total exports. The second position in the ranking was taken by Kenya ($X), with a X% share of total exports. It was followed by Australia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (X% per year) and Australia (X% per year).

Export Prices by Country

In 2023, the average synthetic yarn export price amounted to $X per ton, shrinking by X% against the previous year. Overall, export price indicated temperate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 an increase of X%. The export price peaked at $X per ton in 2022, and then contracted in the following year.

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

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

Synthetic Yarn Imports

Imports into Malaysia

In 2023, after three years of growth, there was significant decline in purchases abroad of yarn of synthetic or artificial staple fibers, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Imports peaked at X tons in 2022, and then contracted remarkably in the following year.

In value terms, synthetic yarn imports declined markedly to $X in 2023. In general, total imports indicated mild growth 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. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2022, and then shrank notably in the following year.

Imports by Country

Vietnam (X tons), Thailand (X tons) and China (X tons) were the main suppliers of synthetic yarn imports to Malaysia, with a combined X% share of total imports. Indonesia, Pakistan, India and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Pakistan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and China ($X) were the largest synthetic yarn suppliers to Malaysia, with a combined X% share of total imports. Indonesia, Pakistan, India and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Pakistan, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average synthetic yarn import price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price showed a mild descent. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2022 to 2023, the average import prices remained at a lower figure.

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

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

Source: IndexBox Platform