ASEAN: Glass Fibre Filament Market 2024

Glass Fibre Filament Market Size in ASEAN

The ASEAN glass fibre filament market dropped to $X in 2021, falling by -5.1% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Glass Fibre Filament Production in ASEAN

In value terms, glass fibre filament production declined slightly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a noticeable reduction. The pace of growth appeared the most rapid in 2016 when the production volume increased by 43%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Glass Fibre Filament Exports

Exports in ASEAN

In 2021, after two years of decline, there was significant growth in overseas shipments of glass fibre filaments, when their volume increased by 9.6% to X tons. Over the period under review, exports showed a remarkable increase. The pace of growth appeared the most rapid in 2015 with an increase of 71%. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, glass fibre filament exports surged to $X in 2021. In general, exports, however, recorded a pronounced descent. The pace of growth appeared the most rapid in 2017 with an increase of 50%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of glass fibre filaments, namely Malaysia, represented more than two-thirds of total export.

Malaysia was also the fastest-growing in terms of the glass fibre filaments exports, with a CAGR of +29.5% from 2012 to 2021. Malaysia (+82 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, Malaysia ($X) also remains the largest glass fibre filament supplier in ASEAN.

In Malaysia, glass fibre filament exports increased at an average annual rate of +24.0% over the period from 2012-2021.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, picking up by 24% against the previous year. Over the period under review, the export price, however, saw a deep reduction. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Malaysia amounted to -4.3% per year.

Glass Fibre Filament Imports

Imports in ASEAN

In 2021, purchases abroad of glass fibre filaments decreased by -8.8% to X tons, falling for the second year in a row after four years of growth. Total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -14.0% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 17%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, glass fibre filament imports surged to $X in 2021. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Thailand (X tons) was the key importer of glass fibre filaments, achieving 52% of total imports. Malaysia (X tons) held the second position in the ranking, distantly followed by Indonesia (X tons) and Vietnam (X tons). All these countries together took near 46% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to glass fibre filament imports into Thailand stood at +14.8%. At the same time, Vietnam (+21.5%) and Indonesia (+2.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +21.5% from 2012-2021. By contrast, Malaysia (-4.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand and Vietnam increased by +29 and +8.7 percentage points, respectively.

In value terms, Thailand ($X) constitutes the largest market for imported glass fibre filaments in ASEAN, comprising 55% of total imports. The second position in the ranking was held by Malaysia ($X), with a 19% share of total imports. It was followed by Vietnam, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Thailand totaled +11.9%. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (-8.5% per year) and Vietnam (+18.0% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, increasing by 37% against the previous year. Overall, the import price, however, showed a pronounced reduction. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Thailand ($X per ton) and Vietnam ($X per ton), while Malaysia ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform