Africa: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in Africa

In 2021, the African glass fibre chopped strand market was finally on the rise to reach $X after four years of decline. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Glass Fibre Chopped Strands in Africa

In value terms, glass fibre chopped strand production totaled $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 20%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Glass Fibre Chopped Strands

Exports in Africa

Glass fibre chopped strand exports surged to X tons in 2021, growing by 255% on the previous year. Over the period under review, exports enjoyed strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre chopped strand exports surged to $X in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Africa (X tons) and Egypt (X tons) dominates exports structure, together mixing up 93% of total exports. Ghana (X tons) and Morocco (X tons) took a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for South Africa (with a CAGR of +27.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), South Africa ($X) and Morocco ($X) constituted the countries with the highest levels of exports in 2021, with a combined 90% share of total exports.

Egypt, with a CAGR of +24.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, falling by -42.7% against the previous year. Over the period under review, the export price showed a abrupt slump. The growth pace was the most rapid in 2013 when the export price increased by 60% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+5.3%), while the other leaders experienced a decline in the export price figures.

Imports of Glass Fibre Chopped Strands

Imports in Africa

In 2021, glass fibre chopped strand imports in Africa dropped slightly to X tons, which is down by -2.5% compared with 2020 figures. Overall, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by 121% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, glass fibre chopped strand imports surged to $X in 2021. The total import value increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 32%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

In 2021, South Africa (X tons) represented the main importer of glass fibre chopped strands, achieving 53% of total imports. It was distantly followed by Egypt (X tons) and Nigeria (X tons), together constituting a 25% share of total imports. The following importers - Algeria (X tons), Tunisia (X tons) and Chad (X tons) - together made up 10% of total imports.

From 2012 to 2021, average annual rates of growth with regard to glass fibre chopped strand imports into South Africa stood at +13.5%. At the same time, Algeria (+54.1%), Egypt (+12.1%), Tunisia (+9.3%) and Chad (+8.1%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in Africa, with a CAGR of +54.1% from 2012-2021. Nigeria experienced a relatively flat trend pattern. From 2012 to 2021, the share of South Africa, Egypt and Algeria increased by +21, +5.3 and +4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported glass fibre chopped strands in Africa, comprising 48% of total imports. The second position in the ranking was taken by Egypt ($X), with a 12% share of total imports. It was followed by Nigeria, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value in South Africa amounted to +14.6%. The remaining importing countries recorded the following average annual rates of imports growth: Egypt (+9.4% per year) and Nigeria (-1.3% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2021, surging by 28% against the previous year. Overall, the import price, however, showed a mild decrease. The most prominent rate of growth was recorded in 2017 an increase of 67% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Chad ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tunisia (+12.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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