Nylon 6 industrial yarn export achieves sound growth

In 2021, the global economy will recover as a whole. As China's economic recovery and epidemic prevention and control lead the world at the time, in addition, the effect of policies and measures to stabilize economic growth have continued to show, driving export growth beyond expectations.

Nylon 6 industry has the advantages of relatively stable cost and supply. The export growth of nylon 6 chip, textile filament, film, and modified plastics is very strong. Among them, the export of nylon 6 industrial yarn (high tenacity yarn of nylon-6, H.S. code: 54021910) also posts stable growth. 

NIY export grew steadily since H2 2021

In the years before the epidemic, the monthly export volume of nylon 6 industrial yarn basically fluctuated around 3,500-4,500 tons. In the early stage after the epidemic outbreak in 2020, the export volume was greatly reduced, but it was quickly repaired after only two or three months, and gradually returned to normal levels after a short burst of growth.

Beginning in the second half of 2021, export of nylon 6 industrial yarn started a stable growth model. The monthly export volume maintained an upward trend (export only affected by the Spring Festival in 2022), and continuously hit new highs.

In addition to the favorable macro environment for the export growth, the growth in demand for differentiated products (such as anti-UV) is also the main supporting reason.

Export destinations of NIY

In the past five years (2017-2021), China's nylon 6 industrial yarn exports to India, Thailand and Indonesia have grown steadily in the past five years. 

Beginning in 2021, exports to Peru and Brazil have increased significantly, with the most prominent growth in exports to Brazil. Exports to Iran and the Philippines have decreased significantly. Exports to Vietnam and South Korea have narrowly fluctuated with the trend of increase and decrease not obvious and average export volumes relatively stable.

Export origins of NIY

The export suppliers of China's nylon 6 industrial yarn are mainly distributed in Jiangsu and Zhejiang, with a small amount in Shandong. The proportion of other regions is too small and can be basically ignored.

In 2021, the most obvious export growth of nylon 6 industrial yarn has been witnessed from Jiangsu, with Haiyang's anti-UV products being the most representative. Exports from Zhejiang and Shandong did not change much. In other regions, exports from Guangdong and Fujian have grown significantly, and the proportions have increased slightly.

In conclusions, although the export growth of nylon 6 industrial yarn in the past two years has not been as strong as that of nylon 6 chip exports, it is still relatively stable.

In 2022, the global epidemic have influenced the world repeatedly, the industrial external environment has become more complex, severe and uncertain. The relative advantage and base effect of China's economic recovery has weakened, and the export development will face more uncertain, unstable and unbalanced factors.

For more than 50% of the niche products in nylon 6 industrial yarn export, there are also variables under the fluctuating environment. Of course, China's economy is resilient, and the fundamentals of the long-term improvement in export trade are still being supportive.