Artificial Staple Fibre Market

The artificial staple fibre market is projected to see a decline in consumption over the period from 2022 to 2030, with a forecasted negative CAGR of -0.9%. While the global consumption of artificial staple fibres saw a rise in 2022, reaching 365K tons, consumption is expected to decrease to 338K tons by 2030. In terms of market value, a slight decrease is expected, with a CAGR of +2.9%, bringing the market value to $2.3B by 2030. Countries like China, the United States, and Turkey were the top consumers and producers of artificial staple fibres in 2022. Imports and exports of artificial staple fibres also saw fluctuations in volume and value over the years. Overall, the global artificial staple fibre market is set to experience changes in consumption, production, and trade dynamics in the coming years.

Market Forecast

The artificial staple fibre market is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -0.9% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 338K tons by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market value to $2.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Artificial Staple Fibres

In 2022, the amount of artificial staple fibres consumed worldwide rose to 365K tons, with an increase of 4.7% on 2021. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak volume of 398K tons. From 2021 to 2022, the growth of the global consumption remained at a lower figure.

The global artificial staple fibre market value shrank to $1.8B in 2022, standing approx. at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market reached the maximum level at $2.4B in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (50K tons), the United States (31K tons) and Turkey (26K tons), together accounting for 29% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Turkey (with a CAGR of +13.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Turkey ($390M) led the market, alone. The second position in the ranking was taken by Japan ($147M). It was followed by China.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to +14.0%. The remaining consuming countries recorded the following average annual rates of market growth: Japan (-3.0% per year) and China (+0.4% per year).

In 2022, the highest levels of artificial staple fibre per capita consumption was registered in Turkey (300 kg per 1000 persons), followed by Germany (130 kg per 1000 persons), the UK (113 kg per 1000 persons) and Japan (109 kg per 1000 persons), while the world average per capita consumption of artificial staple fibre was estimated at 46 kg per 1000 persons.

In Turkey, artificial staple fibre per capita consumption expanded at an average annual rate of +11.7% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Germany (+7.5% per year) and the UK (+2.5% per year).

Production

World Production of Artificial Staple Fibres

In 2022, the amount of artificial staple fibres produced worldwide amounted to 366K tons, growing by 4% compared with the previous year's figure. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 59%. As a result, production attained the peak volume of 401K tons. From 2021 to 2022, global production growth remained at a lower figure.

In value terms, artificial staple fibre production stood at $1.9B in 2022 estimated in export price. In general, the total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +35.1% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of 51% against the previous year. As a result, production reached the peak level of $2.4B. From 2019 to 2022, global production growth failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (51K tons), the United States (31K tons) and Turkey (26K tons), with a combined 30% share of global production.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +10.5%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Artificial Staple Fibres

In 2022, after five years of decline, there was significant growth in purchases abroad of artificial staple fibres, when their volume increased by 20% to 5.9K tons. In general, imports, however, recorded a perceptible reduction. The pace of growth appeared the most rapid in 2013 with an increase of 39% against the previous year. Global imports peaked at 15K tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, artificial staple fibre imports expanded remarkably to $28M in 2022. Over the period under review, imports, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2013 with an increase of 20% against the previous year. As a result, imports reached the peak of $45M. From 2014 to 2022, the growth of global imports failed to regain momentum.

Imports By Country

China (1,016 tons) and Italy (864 tons) were the largest importers of artificial staple fibres in 2022, accounting for approx. 17% and 15% of total imports, respectively. Austria (514 tons) took the next position in the ranking, followed by Turkey (450 tons), Belgium (370 tons) and Yemen (346 tons). All these countries together took approx. 29% share of total imports. Honduras (258 tons), Democratic People's Republic of Korea (161 tons), Bulgaria (146 tons), the Czech Republic (140 tons), Iraq (134 tons), Spain (112 tons) and Russia (103 tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Russia (with a CAGR of +55.7%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest artificial staple fibre importing markets worldwide were Italy ($4.7M), China ($4.2M) and Belgium ($2.7M), with a combined 41% share of global imports. Turkey, the Czech Republic, Honduras, Bulgaria, Austria, Russia, Spain, Iraq, Democratic People's Republic of Korea and Yemen lagged somewhat behind, together accounting for a further 33%.

Russia, with a CAGR of +46.5%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average artificial staple fibre import price amounted to $4,798 per ton, reducing by -4.7% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 32% against the previous year. Over the period under review, average import prices reached the peak figure at $5,034 per ton in 2021, and then reduced modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Czech Republic ($12,198 per ton), while Yemen ($587 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+3.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Artificial Staple Fibres

In 2022, the amount of artificial staple fibres exported worldwide fell to 6.9K tons, with a decrease of -14.3% on the year before. In general, exports continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2014 with an increase of 33%. As a result, the exports reached the peak of 15K tons. From 2015 to 2022, the growth of the global exports failed to regain momentum.

In value terms, artificial staple fibre exports contracted to $27M in 2022. Overall, exports showed a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of 9.3% against the previous year. The global exports peaked at $38M in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports By Country

In 2022, China (2K tons), distantly followed by Turkey (1,237 tons), Germany (931 tons), Saudi Arabia (450 tons), Vietnam (441 tons), Austria (396 tons), Italy (384 tons) and Spain (349 tons) represented the major exporters of artificial staple fibres, together making up 90% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of +903.6%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($5.8M), Austria ($5.2M) and China ($4.5M) appeared to be the countries with the highest levels of exports in 2022, together comprising 58% of global exports. Italy, Turkey, Spain, Saudi Arabia and Vietnam lagged somewhat behind, together accounting for a further 28%.

In terms of the main exporting countries, Vietnam, with a CAGR of +909.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average artificial staple fibre export price amounted to $3,902 per ton, picking up by 14% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 22%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Austria ($13,131 per ton), while Vietnam ($623 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+5.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform