Report Update: May 1, 2024

Philippines - Yarn Of Synthetic Or Artificial Staple Fibers - Market Analysis, Forecast, Size, Trends and Insights

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Synthetic Yarn Price in the Philippines - 2023

Synthetic Yarn Price in the Philippines (FOB) - 2023

The average synthetic yarn export price stood at $4,634 per ton in July 2023, with an increase of 13% against the previous month. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 an increase of 29% m-o-m. Over the period under review, the average export prices hit record highs at $5,134 per ton in October 2022; however, from November 2022 to July 2023, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In July 2023, the highest price was recorded for prices to Finland ($5,848 per ton) and Argentina ($4,564 per ton), while the average price for exports to Malaysia ($4,329 per ton) and Morocco ($4,402 per ton) were amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+1.1%), while the prices for the other major destinations experienced a decline.

Synthetic Yarn Price in the Philippines (CIF) - 2023

In July 2023, the average synthetic yarn import price amounted to $1,898 per ton, falling by -14.5% against the previous month. Over the period under review, the import price recorded a mild downturn. The pace of growth was the most pronounced in August 2022 an increase of 12% m-o-m. The import price peaked at $2,824 per ton in October 2022; however, from November 2022 to July 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was China ($2,233 per ton), while the price for Vietnam ($1,329 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+0.2%), while the prices for the other major suppliers experienced a decline.

Synthetic Yarn Exports in the Philippines

In 2022, the amount of yarn of synthetic or artificial staple fibers exported from the Philippines shrank notably to 4K tons, with a decrease of -37.1% compared with the previous year. Overall, exports continue to indicate a abrupt slump. The growth pace was the most rapid in 2021 with an increase of 98%. As a result, the exports reached the peak of 6.4K tons, and then declined sharply in the following year.

In value terms, synthetic yarn exports declined remarkably to $18M in 2022. Over the period under review, exports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2021 when exports increased by 130%. As a result, the exports attained the peak of $22M, and then contracted notably in the following year.

Export of Synthetic Yarn in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Egypt	N/A	N/A	2.4	3.5	45.8%
Portugal	1.3	0.9	2.1	1.8	11.5%
Bangladesh	N/A	N/A	1.7	1.7	0.0%
Algeria	0.7	1.3	1.1	1.5	28.9%
South Africa	1.8	1.4	3.7	1.5	-5.9%
Turkey	4.9	1.4	2.0	1.3	-35.7%
Malaysia	0.3	0.1	2.0	1.3	63.0%
Brazil	N/A	0.5	0.8	0.8	26.5%
Israel	N/A	N/A	0.5	0.7	40.0%
Yemen	0.2	0.4	0.3	0.6	44.2%
Mexico	1.2	0.1	0.2	0.4	-30.7%
Ethiopia	N/A	N/A	N/A	0.4	0%
Kenya	1.4	0.4	0.3	0.4	-34.1%
Others	3.6	3.2	5.2	2.0	-17.8%
Total	15.4	9.7	22.3	18.0	5.3%

Top Export Markets for Synthetic Yarn from the Philippines in 2022:

Egypt (894.5 tons)
Bangladesh (410.1 tons)
Turkey (399.8 tons)
Portugal (381.7 tons)
Malaysia (340.5 tons)
South Africa (291.1 tons)
Algeria (272.9 tons)
Brazil (159.7 tons)
Israel (150.2 tons)
Yemen (107.4 tons)
Ethiopia (93.6 tons)
Mexico (79.5 tons)
Kenya (76.7 tons)

Synthetic Yarn Imports in the Philippines

In 2022, approx. 4.3K tons of yarn of synthetic or artificial staple fibers were imported into the Philippines; waning by -23.2% compared with 2021 figures. In general, imports recorded a precipitous slump. The pace of growth appeared the most rapid in 2021 when imports increased by 2.9% against the previous year.

In value terms, synthetic yarn imports expanded markedly to $10M in 2022. Overall, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year.

Import of Synthetic Yarn in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	10.1	2.6	4.1	6.3	-14.6%
Vietnam	3.1	1.3	1.6	1.9	-15.1%
Thailand	2.5	2.1	2.2	0.6	-37.9%
Indonesia	0.8	0.5	0.5	0.3	-27.9%
Taiwan (Chinese)	0.9	0.3	0.4	0.2	-39.4%
India	0.6	0.2	0.1	0.1	-45.0%
Others	1.8	1.0	1.0	1.0	-17.8%
Total	19.9	8.0	9.9	10.4	-19.5%

Top Suppliers of Synthetic Yarn to the Philippines in 2022:

China (2230.4 tons)
Vietnam (1125.1 tons)
Thailand (320.7 tons)
Indonesia (205.4 tons)
Taiwan (Chinese) (143.5 tons)
India (80.8 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the synthetic yarn market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 13108210 - Yarn (other than sewing thread) containing . .85 % by weight of synthetic staple fibres, n.p.r.s.
Prodcom 13108250 - Yarn (other than sewing thread) containing . .85 % by weight of synthetic staple fibres, p.r.s.
Prodcom 13108320 - Yarn containing < .85 % by weight of polyester staple fibres (other than sewing thread), mixed with artificial fibres, n.p.r.s.
Prodcom 13108340 - Yarn containing < .85 % by weight of synthetic staple fibres (other than sewing thread), mixed with cotton, n.p.r.s.
Prodcom 13108380 - Other yarns, containing < .85 % by weight of synthetic staple fibres (other than sewing thread), n.p.r.s., n.e.c.
Prodcom 13108390 - Yarn containing < .85 % by weight of synthetic staple fibres (other than sewing thread), p.r.s.
Prodcom 131083Z0 - Yarn of synthetic staple fibres mixed with wool, n.p.r.s
Prodcom 13108410 - Yarn (other than sewing thread) of artificial staple fibres, n .p.r.s.
Prodcom 13108430 - Yarn (other than sewing thread) of artificial staple fibres, p.r.s.

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023