Latin America and the Caribbean: Synthetic Yarn Market 2024

Synthetic Yarn Market Size in Latin America and the Caribbean

After two years of growth, the Latin American synthetic yarn market decreased by X% to $X in 2023. In general, consumption recorded a mild slump. Over the period under review, the market attained the peak level at $X in 2022, and then shrank in the following year.

Synthetic Yarn Production in Latin America and the Caribbean

In value terms, synthetic yarn production declined slightly to $X in 2023 estimated in export price. Overall, production showed a abrupt shrinkage. The growth pace was the most rapid in 2022 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Synthetic Yarn Exports

Exports in Latin America and the Caribbean

In 2023, after two years of growth, there was significant decline in overseas shipments of yarn of synthetic or artificial staple fibers, when their volume decreased by X% to X tons. In general, exports continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

In value terms, synthetic yarn exports contracted rapidly to $X in 2023. Over the period under review, exports continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2022 when exports increased by X%. As a result, the exports reached the peak of $X, and then dropped sharply in the following year.

Exports by Country

In 2023, El Salvador (X tons), distantly followed by Brazil (X tons), Nicaragua (X tons), Peru (X tons), Guatemala (X tons) and Ecuador (X tons) were the main exporters of yarn of synthetic or artificial staple fibers, together generating X% of total exports. Mexico (X tons) took a little share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Nicaragua (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic yarn supplying countries in Latin America and the Caribbean were Mexico ($X), El Salvador ($X) and Peru ($X), together accounting for X% of total exports. Brazil, Guatemala, Nicaragua and Ecuador lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Nicaragua, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, which is down by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced mixed trends in the export price figures.

Synthetic Yarn Imports

Imports in Latin America and the Caribbean

In 2023, approx. X tons of yarn of synthetic or artificial staple fibers were imported in Latin America and the Caribbean; shrinking by X% against 2022 figures. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, synthetic yarn imports fell rapidly to $X in 2023. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked at $X in 2022, and then reduced remarkably in the following year.

Imports by Country

Brazil (X tons) and Honduras (X tons) were the major importers of yarn of synthetic or artificial staple fibers in 2023, amounting to approx. X% and X% of total imports, respectively. It was distantly followed by Colombia (X tons), making up an X% share of total imports. Peru (X tons), Mexico (X tons), El Salvador (X tons), Argentina (X tons) and Ecuador (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Peru (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Honduras ($X), Brazil ($X) and Colombia ($X) appeared to be the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Mexico, El Salvador, Argentina, Peru and Ecuador lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Peru, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the import price showed a pronounced downturn. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was El Salvador ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by El Salvador (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform