Man-Made Filament Yarn Market

The global man-made filament yarn market is forecasted to continue its upward consumption trend, with a projected CAGR of +3.8% in volume and +6.1% in value from 2022 to 2030. Turkey dominates both consumption and production, while China leads in exports. Different types of man-made filament yarn exhibit varying trends in imports and exports, with yarn made of polyesters showing the highest growth rates. The average export price for man-made filament yarn increased by 8.2% in 2022, reaching $5,119 per ton. Overall, the market is expected to see continued growth in the coming years.

Market Forecast

Driven by increasing demand for man-made filament yarn worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.8% for the period from 2022 to 2030, which is projected to bring the market volume to 2.2M 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 $43.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Man-Made Filament Yarn

In 2022, consumption of man-made filament yarn decreased by -7.1% to 1.6M tons for the first time since 2018, thus ending a three-year rising trend. The total consumption volume increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak volume of 1.7M tons, and then fell in the following year.

The global man-made filament yarn market size fell to $27.1B in 2022, waning by -12.6% 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, consumption, however, continues to indicate a resilient increase. Over the period under review, the global market attained the maximum level at $35.7B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

Turkey (956K tons) remains the largest man-made filament yarn consuming country worldwide, comprising approx. 59% of total volume. Moreover, man-made filament yarn consumption in Turkey exceeded the figures recorded by the second-largest consumer, India (111K tons), ninefold. The third position in this ranking was held by Italy (92K tons), with a 5.7% share.

In Turkey, man-made filament yarn consumption increased at an average annual rate of +5.7% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+21.8% per year) and Italy (+4.0% per year).

In value terms, Turkey ($23.4B) led the market, alone. The second position in the ranking was taken by Italy ($566M). It was followed by Japan.

In Turkey, the man-made filament yarn market expanded at an average annual rate of +6.7% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Italy (+2.1% per year) and Japan (-0.7% per year).

In 2022, the highest levels of man-made filament yarn per capita consumption was registered in Turkey (11 kg per person), followed by Italy (1.6 kg per person), Japan (0.2 kg per person) and the United States (0.2 kg per person), while the world average per capita consumption of man-made filament yarn was estimated at 0.2 kg per person.

In Turkey, man-made filament yarn per capita consumption expanded at an average annual rate of +4.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Italy (+4.1% per year) and Japan (-3.0% per year).

Production

World Production of Man-Made Filament Yarn

In 2022, after eight years of growth, there was significant decline in production of man-made filament yarn, when its volume decreased by -6.2% to 1.7M tons. The total output volume increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 13% against the previous year. As a result, production attained the peak volume of 1.8M tons, and then fell in the following year.

In value terms, man-made filament yarn production dropped sharply to $25.5B in 2022 estimated in export price. In general, production, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 68% against the previous year. Global production peaked at $79.3B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

Turkey (967K tons) constituted the country with the largest volume of man-made filament yarn production, comprising approx. 57% of total volume. Moreover, man-made filament yarn production in Turkey exceeded the figures recorded by the second-largest producer, China (219K tons), fourfold. India (146K tons) ranked third in terms of total production with an 8.6% share.

In Turkey, man-made filament yarn production expanded at an average annual rate of +4.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+1.9% per year) and India (+21.1% per year).

Imports

World Imports of Man-Made Filament Yarn

Global man-made filament yarn imports dropped to 224K tons in 2022, waning by -8.3% compared with 2021. In general, imports saw a noticeable descent. The pace of growth was the most pronounced in 2021 with an increase of 24%. Global imports peaked at 311K tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, man-made filament yarn imports rose to $1.2B in 2022. Overall, imports showed a slight descent. The pace of growth appeared the most rapid in 2021 when imports increased by 26% against the previous year. Global imports peaked at $1.4B in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, Turkey (19K tons), Vietnam (15K tons), Bangladesh (13K tons), India (12K tons), Belgium (11K tons), the United States (11K tons), China (8.3K tons), the Netherlands (8.3K tons), Italy (5.6K tons), Canada (5.6K tons), Germany (5.4K tons) and the UK (5.3K tons) was the key importer of man-made filament yarn in the world, achieving 53% of total import. The Philippines (5.3K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bangladesh (with a CAGR of +17.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, India ($97M), the United States ($83M) and Vietnam ($79M) were the countries with the highest levels of imports in 2022, with a combined 21% share of global imports. Turkey, China, Bangladesh, Germany, Belgium, the Netherlands, Italy, the Philippines, the UK and Canada lagged somewhat behind, together accounting for a further 36%.

Bangladesh, with a CAGR of +20.1%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

Yarn; (not sewing thread), multiple (folded) or cabled, of polyesters (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity represented the key type of man-made filament yarn in the world, with the volume of imports resulting at 113K tons, which was approx. 50% of total imports in 2022. Yarn; (not sewing thread), multiple (folded) or cabled, of nylon or other polyamides (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity (47K tons) ranks second in terms of the total imports with a 21% share, followed by yarn; (not sewing thread), multiple (folded) or cabled, of synthetic filament yarn (including synthetic monofilament of less than 67 decitex) n.e.s. in item no. 5402.6, not put up for retail sale, not textured, not high tenacity (10%), yarn; (not sewing thread), multiple (folded) or cabled, of viscose rayon (including artificial monofilament of less than 67 decitex), not for retail sale, not textured, not high tenacity (7.9%) and man-made filament yarn (other than sewing thread), put up for retail sale (7.1%). Yarn, (not sewing thread), multiple (folded) or cabled, of artificial filament yarn (including artificial monofilament of less than 67 decitex), n.e.s. in item no. 5403.4, not for retail sale, not textured, not high tenacity (6.2K tons) held a little share of total imports.

Yarn; (not sewing thread), multiple (folded) or cabled, of polyesters (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity was also the fastest-growing in terms of imports, with a CAGR of +1.6% from 2012 to 2022. Man-made filament yarn (other than sewing thread), put up for retail sale and yarn; (not sewing thread), multiple (folded) or cabled, of viscose rayon (including artificial monofilament of less than 67 decitex), not for retail sale, not textured, not high tenacity experienced a relatively flat trend pattern. yarn; (not sewing thread), multiple (folded) or cabled, of nylon or other polyamides (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity (-2.7%), yarn, (not sewing thread), multiple (folded) or cabled, of artificial filament yarn (including artificial monofilament of less than 67 decitex), n.e.s. in item no. 5403.4, not for retail sale, not textured, not high tenacity (-5.1%) and yarn; (not sewing thread), multiple (folded) or cabled, of synthetic filament yarn (including synthetic monofilament of less than 67 decitex) n.e.s. in item no. 5402.6, not put up for retail sale, not textured, not high tenacity (-11.8%) illustrated a downward trend over the same period. While the share of yarn; (not sewing thread), multiple (folded) or cabled, of polyesters (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity (+17 p.p.) and man-made filament yarn (other than sewing thread), put up for retail sale (+2 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of yarn; (not sewing thread), multiple (folded) or cabled, of synthetic filament yarn (including synthetic monofilament of less than 67 decitex) n.e.s. in item no. 5402.6, not put up for retail sale, not textured, not high tenacity (-18.2 p.p.) displayed negative dynamics. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, the largest types of imported man-made filament yarn were yarn; (not sewing thread), multiple (folded) or cabled, of polyesters (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity ($479M), yarn; (not sewing thread), multiple (folded) or cabled, of nylon or other polyamides (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity ($322M) and yarn; (not sewing thread), multiple (folded) or cabled, of synthetic filament yarn (including synthetic monofilament of less than 67 decitex) n.e.s. in item no. 5402.6, not put up for retail sale, not textured, not high tenacity ($139M), with a combined 76% share of global imports.

Among the main imported products, yarn; (not sewing thread), multiple (folded) or cabled, of polyesters (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity, with a CAGR of +3.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other products experienced more modest paces of growth.

Import Prices By Type

The average man-made filament yarn import price stood at $5,533 per ton in 2022, growing by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 14% against the previous year. Global import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by the product type; the product with the highest price was yarn, (not sewing thread), multiple (folded) or cabled, of artificial filament yarn (including artificial monofilament of less than 67 decitex), n.e.s. in item no. 5403.4, not for retail sale, not textured, not high tenacity ($10,107 per ton), while the price for yarn; (not sewing thread), multiple (folded) or cabled, of polyesters (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity ($4,243 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by yarn; (not sewing thread), multiple (folded) or cabled, of synthetic filament yarn (including synthetic monofilament of less than 67 decitex) n.e.s. in item no. 5402.6, not put up for retail sale, not textured, not high tenacity (+4.0%), while the other products experienced more modest paces of growth.

Import Prices By Country

In 2022, the average man-made filament yarn import price amounted to $5,533 per ton, picking up by 11% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2017 an increase of 14% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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 Germany ($8,687 per ton), while Belgium ($3,838 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+11.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Man-Made Filament Yarn

In 2022, approx. 289K tons of man-made filament yarn were exported worldwide; shrinking by -2.6% against the year before. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 28% against the previous year. The global exports peaked at 312K tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, man-made filament yarn exports rose sharply to $1.5B in 2022. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 34% against the previous year. Over the period under review, the global exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Exports By Country

In 2022, China (141K tons) represented the key exporter of man-made filament yarn, making up 49% of total exports. It was distantly followed by India (46K tons) and Turkey (29K tons), together committing a 26% share of total exports. The Czech Republic (11K tons), the United States (8.8K tons), Egypt (6.1K tons) and Indonesia (4.8K tons) held a little share of total exports.

Exports from China increased at an average annual rate of +4.8% from 2012 to 2022. At the same time, India (+12.7%), Egypt (+12.1%) and the Czech Republic (+5.6%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +12.7% from 2012-2022. The United States experienced a relatively flat trend pattern. By contrast, Indonesia (-2.4%) and Turkey (-8.8%) illustrated a downward trend over the same period. While the share of China (+17 p.p.) and India (+11 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Turkey (-16.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($718M) remains the largest man-made filament yarn supplier worldwide, comprising 49% of global exports. The second position in the ranking was taken by India ($159M), with an 11% share of global exports. It was followed by Turkey, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +5.2%. In the other countries, the average annual rates were as follows: India (+9.8% per year) and Turkey (-8.2% per year).

Exports By Type

Yarn; (not sewing thread), multiple (folded) or cabled, of polyesters (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity represented the largest type of man-made filament yarn in the world, with the volume of exports accounting for 137K tons, which was near 47% of total exports in 2022. Yarn; (not sewing thread), multiple (folded) or cabled, of nylon or other polyamides (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity (60K tons) ranks second in terms of the total exports with a 21% share, followed by yarn; (not sewing thread), multiple (folded) or cabled, of synthetic filament yarn (including synthetic monofilament of less than 67 decitex) n.e.s. in item no. 5402.6, not put up for retail sale, not textured, not high tenacity (16%), man-made filament yarn (other than sewing thread), put up for retail sale (9.5%) and yarn; (not sewing thread), multiple (folded) or cabled, of viscose rayon (including artificial monofilament of less than 67 decitex), not for retail sale, not textured, not high tenacity (5.5%).

Yarn; (not sewing thread), multiple (folded) or cabled, of polyesters (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity was also the fastest-growing in terms of exports, with a CAGR of +9.8% from 2012 to 2022. At the same time, man-made filament yarn (other than sewing thread), put up for retail sale (+8.8%) displayed positive paces of growth. By contrast, yarn; (not sewing thread), multiple (folded) or cabled, of nylon or other polyamides (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity (-1.2%), yarn; (not sewing thread), multiple (folded) or cabled, of viscose rayon (including artificial monofilament of less than 67 decitex), not for retail sale, not textured, not high tenacity (-4.9%) and yarn; (not sewing thread), multiple (folded) or cabled, of synthetic filament yarn (including synthetic monofilament of less than 67 decitex) n.e.s. in item no. 5402.6, not put up for retail sale, not textured, not high tenacity (-8.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of yarn; (not sewing thread), multiple (folded) or cabled, of polyesters (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity and man-made filament yarn (other than sewing thread), put up for retail sale increased by +28 and +5.3 percentage points, respectively.

In value terms, the largest types of exported man-made filament yarn were yarn; (not sewing thread), multiple (folded) or cabled, of polyesters (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity ($526M), yarn; (not sewing thread), multiple (folded) or cabled, of nylon or other polyamides (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity ($384M) and yarn; (not sewing thread), multiple (folded) or cabled, of synthetic filament yarn (including synthetic monofilament of less than 67 decitex) n.e.s. in item no. 5402.6, not put up for retail sale, not textured, not high tenacity ($306M), together comprising 82% of global exports.

Yarn; (not sewing thread), multiple (folded) or cabled, of polyesters (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity, with a CAGR of +7.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exported products over the period under review, while shipments for the other products experienced mixed trends in the exports figures.

Export Prices By Type

In 2022, the average man-made filament yarn export price amounted to $5,119 per ton, increasing by 8.2% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 16%. The global export price peaked at $5,298 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was yarn; (not sewing thread), multiple (folded) or cabled, of cellulose acetate (including artificial monofilament of less than 67 decitex), not for retail sale, not textured, not high tenacity ($7,412 per ton), while the average price for exports of yarn; (not sewing thread), multiple (folded) or cabled, of polyesters (including synthetic monofilament of less than 67 decitex), not put up for retail sale, not textured, not high tenacity ($3,840 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by yarn; (not sewing thread), multiple (folded) or cabled, of synthetic filament yarn (including synthetic monofilament of less than 67 decitex) n.e.s. in item no. 5402.6, not put up for retail sale, not textured, not high tenacity (+6.5%), while the other products experienced more modest paces of growth.

Export Prices By Country

The average man-made filament yarn export price stood at $5,119 per ton in 2022, increasing by 8.2% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 16%. The global export price peaked at $5,298 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($7,335 per ton), while Egypt ($2,724 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+11.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform