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Tuesday, May 28, 2024

Thailand synthetic filament tow exports and staple fibers

In 2023, overseas shipments of synthetic filament tow and staple fibers, not carded or combed increased by 10% to 476K tons for the first time since 2020, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +4.4% over the period from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 19%. As a result, the exports reached the peak of 483K tons. From 2021 to 2023, the growth of the exports failed to regain momentum.

In value terms, synthetic filament tow exports fell to $626M in 2023.
Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 28%. As a result, the exports attained the peak of $705M. From 2019 to 2023, the growth of the exports remained at a somewhat lower figure.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAR of +27.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic filament tow exported from Thailand were the United States ($124M), Indonesia ($72M) and China (S58M), together accounting for 41% of total exports. Vietnam, India, Japan, Pakistan, Brazil, Bangladesh, Malaysia, the Netherlands, Turkey and Spain lagged somewhat behind, together comprising a further 44%.

The Netherlands, with a CAR of +27.7%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

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