High-Tenacity Filament Aramids Yarn Market

The article dives into the global market for high-tenacity filament yarn of aramids, forecasting a continued upward consumption trend over the next eight years. Market performance is expected to expand with a CAGR of +3.9% in volume and +6.1% in value by 2030. China leads consumption and production, with the United States and India following closely behind. The United States, Belgium, and South Korea dominate exports, while Belgium, Germany, and China are top importers. Overall, the market shows growth potential with fluctuations in consumption, production, imports, and exports.

Market Forecast

Driven by increasing demand for high-tenacity filament yarn of aramids 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 +3.9% for the period from 2022 to 2030, which is projected to bring the market volume to 1.1M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.1% for the period from 2022 to 2030, which is projected to bring the market value to $25.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of High-Tenacity Filament Yarn Of Aramids

In 2022, the amount of high-tenacity filament yarn of aramids consumed worldwide shrank to 829K tons, approximately equating 2021 figures. The total consumption volume increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the consumption volume increased by 8.9% against the previous year. Global consumption peaked at 848K tons in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

The global high-tenacity filament aramids yarn market revenue contracted to $15.9B in 2022, remaining stable 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). Over the period under review, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.7% against 2020 indices. Global consumption peaked at $16.4B in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

China (168K tons) constituted the country with the largest volume of high-tenacity filament aramids yarn consumption, comprising approx. 20% of total volume. Moreover, high-tenacity filament aramids yarn consumption in China exceeded the figures recorded by the second-largest consumer, the United States (81K tons), twofold. India (63K tons) ranked third in terms of total consumption with a 7.6% share.

In China, high-tenacity filament aramids yarn consumption increased at an average annual rate of +4.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+8.1% per year) and India (+3.2% per year).

In value terms, China ($4.4B) led the market, alone. The second position in the ranking was taken by the United States ($1.4B). It was followed by Japan.

From 2012 to 2022, the average annual growth rate of value in China amounted to +4.2%. The remaining consuming countries recorded the following average annual rates of market growth: the United States (+8.6% per year) and Japan (+7.8% per year).

The countries with the highest levels of high-tenacity filament aramids yarn per capita consumption in 2022 were Russia (283 kg per 1000 persons), France (272 kg per 1000 persons) and the UK (269 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Nigeria (with a CAGR of +10.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of High-Tenacity Filament Yarn Of Aramids

In 2022, global production of high-tenacity filament yarn of aramids contracted to 802K tons, which is down by -2% compared with 2021. The total output volume increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when the production volume increased by 9.1% against the previous year. Over the period under review, global production attained the peak volume at 818K tons in 2021, and then dropped slightly in the following year.

In value terms, high-tenacity filament aramids yarn production totaled $16.2B in 2022 estimated in export price. Over the period under review, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.3% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 14%. Over the period under review, global production reached the peak level at $16.4B in 2020; however, from 2021 to 2022, production failed to regain momentum.

Production By Country

China (165K tons) constituted the country with the largest volume of high-tenacity filament aramids yarn production, accounting for 21% of total volume. Moreover, high-tenacity filament aramids yarn production in China exceeded the figures recorded by the second-largest producer, the United States (75K tons), twofold. The third position in this ranking was held by India (61K tons), with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +4.7%. In the other countries, the average annual rates were as follows: the United States (+8.1% per year) and India (+3.0% per year).

Imports

World Imports of High-Tenacity Filament Yarn Of Aramids

In 2022, approx. 66K tons of high-tenacity filament yarn of aramids were imported worldwide; with an increase of 8.8% compared with 2021. The total import volume increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by 16% against the previous year. Over the period under review, global imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, high-tenacity filament aramids yarn imports rose rapidly to $1.4B in 2022. The total import value increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 15%. Global imports peaked in 2022 and are likely to see steady growth in the near future.

Imports By Country

In 2022, the United States (12K tons), distantly followed by Germany (5.7K tons), China (5.7K tons), Italy (4.5K tons), Poland (3.9K tons), Belgium (3.6K tons), the Netherlands (3.5K tons) and the Czech Republic (3K tons) represented the main importers of high-tenacity filament yarn of aramids, together comprising 63% of total imports. Brazil (2.9K tons), India (2.3K tons), France (1.9K tons), Mexico (1.5K tons) and Turkey (1.3K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to high-tenacity filament aramids yarn imports into the United States stood at +5.0%. At the same time, Belgium (+104.6%), the Netherlands (+21.7%), Poland (+20.1%), Turkey (+12.7%), India (+9.9%), Mexico (+8.7%), Italy (+8.6%), China (+4.2%), Brazil (+2.9%), France (+2.3%), Germany (+1.2%) and the Czech Republic (+1.0%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing importer imported in the world, with a CAGR of +104.6% from 2012-2022. From 2012 to 2022, the share of Belgium, Poland, the Netherlands and Italy increased by +5.5, +4.5, +4.1 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest high-tenacity filament aramids yarn importing markets worldwide were the United States ($187M), Germany ($146M) and China ($142M), with a combined 34% share of global imports. Italy, Poland, the Netherlands, Belgium, Brazil, France, India, Turkey, Mexico and the Czech Republic lagged somewhat behind, together accounting for a further 42%.

Among the main importing countries, Belgium, with a CAGR of +117.8%, saw the highest growth rate of 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 high-tenacity filament aramids yarn import price stood at $21,056 per ton in 2022, stabilizing at the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 5.6%. Global import price peaked at $23,025 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($30,151 per ton), while the Czech Republic ($9,006 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+6.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of High-Tenacity Filament Yarn Of Aramids

In 2022, after three years of growth, there was significant decline in shipments abroad of high-tenacity filament yarn of aramids, when their volume decreased by -17.4% to 38K tons. Overall, total exports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 49% against the previous year. The global exports peaked at 46K tons in 2021, and then shrank significantly in the following year.

In value terms, high-tenacity filament aramids yarn exports contracted to $868M in 2022. Over the period under review, total exports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.1% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 48% against the previous year. Over the period under review, the global exports hit record highs at $964M in 2021, and then shrank in the following year.

Exports By Country

Belgium (10K tons), South Korea (9K tons) and the United States (6.4K tons) represented roughly 67% of total exports in 2022. China (2.5K tons) took the next position in the ranking, followed by the Czech Republic (2.1K tons). All these countries together took approx. 12% share of total exports. The following exporters - the Netherlands (1.5K tons), Japan (1.4K tons), Hong Kong SAR (0.8K tons) and Romania (0.6K tons) - together made up 11% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Belgium (with a CAGR of +199.3%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest high-tenacity filament aramids yarn supplying countries worldwide were Belgium ($265M), South Korea ($206M) and the United States ($130M), with a combined 69% share of global exports.

In terms of the main exporting countries, Belgium, with a CAGR of +209.5%, saw 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

In 2022, the average high-tenacity filament aramids yarn export price amounted to $22,788 per ton, growing by 9% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($28,072 per ton), while Romania ($5,086 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform