MENA: Synthetic Yarn Market 2024

Synthetic Yarn Market Size in MENA

The MENA's synthetic yarn market expanded slightly to $X in 2023, rising by X% against the previous year. The total consumption indicated a measured expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Synthetic Yarn Production in MENA

In value terms, synthetic yarn production skyrocketed to $X in 2023 estimated in export price. Over the period under review, production recorded a resilient expansion. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Synthetic Yarn Exports

Exports in MENA

Synthetic yarn exports contracted to X tons in 2023, dropping by X% on the year before. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, synthetic yarn exports dropped to $X in 2023. Total exports indicated a slight increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2022, and then fell in the following year.

Exports by Country

Turkey dominates exports structure, accounting for X tons, which was approx. X% of total exports in 2023. It was distantly followed by Egypt (X tons), mixing up a X% share of total exports.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of yarn of synthetic or artificial staple fibers. At the same time, Egypt (X%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Egypt increased by X percentage points.

In value terms, Turkey ($X) remains the largest synthetic yarn supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Egypt ($X), with a X% share of total exports.

In Turkey, synthetic yarn exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in MENA stood at $X per ton in 2023, shrinking by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2022, and then dropped slightly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Egypt amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%).

Synthetic Yarn Imports

Imports in MENA

In 2023, after two years of growth, there was significant decline in overseas purchases of yarn of synthetic or artificial staple fibers, when their volume decreased by X% to X tons. Overall, imports saw a noticeable downturn. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, synthetic yarn imports fell sharply to $X in 2023. In general, imports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2023, imports failed to regain momentum.

Imports by Country

Turkey was the main importing country with an import of around X tons, which accounted for X% of total imports. Egypt (X tons) held the second position in the ranking, distantly followed by Morocco (X tons) and Iran (X tons). All these countries together took approx. X% share of total imports. Tunisia (X tons), the United Arab Emirates (X tons) and Syrian Arab Republic (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to synthetic yarn imports into Turkey stood at X%. At the same time, Egypt (X%), the United Arab Emirates (X%) and Morocco (X%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. By contrast, Tunisia (X%), Iran (X%) and Syrian Arab Republic (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Egypt and Morocco increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported yarn of synthetic or artificial staple fibers in MENA, comprising X% of total imports. The second position in the ranking was held by Egypt ($X), with a X% share of total imports. It was followed by Morocco, with an X% share.

In Turkey, synthetic yarn imports contracted by an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Egypt (X% per year) and Morocco (X% per year).

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, reducing by X% against the previous year. Overall, the import price recorded a perceptible descent. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Tunisia ($X per ton) and Iran ($X per ton), while Syrian Arab Republic ($X per ton) and Morocco ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform