ASEAN: Aramids Staple Market 2024

Aramids Staple Market Size in ASEAN

The ASEAN aramids staple market reduced notably to $X in 2022, which is down by X% against the previous year. Overall, consumption saw a precipitous shrinkage. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Aramids Staple Production in ASEAN

In value terms, aramids staple production contracted slightly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Aramids Staple Exports

Exports in ASEAN

In 2022, aramids staple exports in ASEAN soared to X tons, picking up by X% against the previous year's figure. Overall, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, aramids staple exports skyrocketed to $X in 2022. In general, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

The biggest shipments were from Thailand (X tons), together accounting for X% of total export.

Thailand was also the fastest-growing in terms of the aramids staple exports, with a CAGR of X% from 2012 to 2022. Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) also remains the largest aramids staple supplier in ASEAN.

In Thailand, aramids staple exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price recorded a pronounced setback. The most prominent rate of growth was recorded in 2019 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 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Thailand.

From 2012 to 2022, the rate of growth in terms of prices for Thailand amounted to X% per year.

Aramids Staple Imports

Imports in ASEAN

In 2022, overseas purchases of aramids staple decreased by X% to X tons, falling for the fifth consecutive year after two years of growth. Over the period under review, imports recorded a deep slump. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, aramids staple imports reduced to $X in 2022. In general, imports continue to indicate a noticeable curtailment. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Thailand represented the main importing country with an import of around X tons, which recorded X% of total imports. Indonesia (X tons) ranks second in terms of the total imports with a X% share, followed by Malaysia (X%). The following importers - Vietnam (X tons), Singapore (X tons) and Brunei Darussalam (X tons) - each accounted for a X% share of total imports.

Thailand experienced a relatively flat trend pattern with regard to volume of imports of aramids staple. At the same time, Vietnam (X%), Brunei Darussalam (X%) and Singapore (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%) and Indonesia (X%) illustrated a downward trend over the same period. Thailand (X p.p.) and Vietnam (X p.p.) significantly strengthened its position in terms of the total imports, while Indonesia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported aramids staple in ASEAN, comprising X% of total imports. The second position in the ranking was held by Indonesia ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Malaysia (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, increasing by X% against the previous year. Import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aramids staple import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

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 Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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