United Kingdom: Glass Fiber Market 2024

Glass Fiber Market Size in the UK

After three years of decline, the UK glass fiber market increased by 10% to $X in 2021. Overall, consumption, however, recorded a abrupt descent. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Glass Fiber Production in the UK

In value terms, glass fiber production declined slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 9.9% against the previous year. Glass fiber production peaked at $X in 2020, and then reduced modestly in the following year.

Glass Fiber Exports

Exports from the UK

For the third year in a row, the UK recorded growth in shipments abroad of voiles, webs, mats and other articles of glass fibers, which increased by 4.6% to X tons in 2021. In general, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +45.0% against 2015 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 28%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, glass fiber exports rose remarkably to $X in 2021. The total export value increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when exports increased by 18% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons), Australia (X tons) and Ireland (X tons) were the main destinations of glass fiber exports from the UK, together comprising 46% of total exports.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +55.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Ireland ($X) and France ($X) appeared to be the largest markets for glass fiber exported from the UK worldwide, with a combined 34% share of total exports. These countries were followed by Australia, the United States, Italy, Belgium, Sweden, Denmark, Norway, the Netherlands and Finland, which together accounted for a further 33%.

Australia, with a CAGR of +34.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average glass fiber export price amounted to $X per ton, rising by 2.3% against the previous year. Overall, the export price, however, showed a mild setback. The pace of growth was the most pronounced in 2014 when the average export price increased by 17%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fiber Imports

Imports into the UK

In 2021, the amount of voiles, webs, mats and other articles of glass fibers imported into the UK expanded significantly to X tons, rising by 6.9% against 2020. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 43%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, glass fiber imports soared to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 85%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United States (X tons), Belgium (X tons) and China (X tons) were the main suppliers of glass fiber imports to the UK, together accounting for 37% of total imports. Egypt, Russia, France, Germany, Italy, Sweden, Thailand, Finland and the Netherlands lagged somewhat behind, together accounting for a further 47%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +176.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of voiles, webs, mats and other articles of glass fibers to the UK, comprising 20% of total imports. The second position in the ranking was taken by China ($X), with a 9.9% share of total imports. It was followed by Germany, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.7% per year) and Germany (+1.5% per year).

Import Prices by Country

In 2021, the average glass fiber import price amounted to $X per ton, with an increase of 9.5% against the previous year. Over the period under review, the import price, however, saw a mild downturn. The pace of growth was the most pronounced in 2017 an increase of 53% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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