Philippines: Man-Made Filament Yarn Market 2024

Man-Made Filament Yarn Market Size in the Philippines

In 2022, the Philippine man-made filament yarn market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption showed a deep setback. Man-made filament yarn consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Man-Made Filament Yarn Exports

Exports from the Philippines

In 2022, overseas shipments of man-made filament yarn increased by X% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, exports, however, continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, man-made filament yarn exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a perceptible decline. The pace of growth appeared the most rapid in 2016 when exports increased by X%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Bangladesh (X tons), the United Arab Emirates (X tons) and China (X tons) were the main destinations of man-made filament yarn exports from the Philippines, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bangladesh (with a CAGR of X.1%), while the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for man-made filament yarn exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Bangladesh ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X.6% per year) and China (X% per year).

Export Prices by Country

The average man-made filament yarn export price stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2020 an increase of X%. The export price peaked in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (X%), while the prices for the other major destinations experienced mixed trend patterns.

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Man-Made Filament Yarn Imports

Imports into the Philippines

In 2022, approx. X tons of man-made filament yarn were imported into the Philippines; waning by X% on the previous year. Overall, imports faced a abrupt descent. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, man-made filament yarn imports amounted to $X in 2022. Over the period under review, imports showed a slight contraction. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X tons) constituted the largest man-made filament yarn supplier to the Philippines, accounting for a X% share of total imports. Moreover, man-made filament yarn imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Japan ($X) constituted the largest supplier of man-made filament yarn to the Philippines, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

The average man-made filament yarn import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2015 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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 2022, 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

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