ASEAN: Market for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles 2024

Market Size for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in ASEAN

In 2021, the ASEAN market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles was finally on the rise to reach $X after three years of decline. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Production of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in ASEAN

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles declined slightly to $X in 2021 estimated in export price. The total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by +0.1% against 2019 indices. The growth pace was the most rapid in 2016 when the production volume increased by 26%. Over the period under review, production of hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Exports in ASEAN

In 2021, shipments abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased by 30% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +36.9% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 31% against the previous year. Over the period under review, the exports of reached the maximum in 2021 and are likely to continue growth in years to come.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles skyrocketed to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles, namely Malaysia, represented more than two-thirds of total export.

Malaysia was also the fastest-growing in terms of the glass fibre filaments, rovings, chopped strands, and staple glass fibre articles exports, with a CAGR of +6.8% from 2012 to 2021. From 2012 to 2021, the share of Malaysia increased by +1.8 percentage points, 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, roving, and staple glass fibre article supplier in ASEAN.

In Malaysia, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased at an average annual rate of +6.3% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, surging by 13% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat 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 -0.5% per year.

Imports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Imports in ASEAN

In 2021, after two years of decline, there was significant growth in purchases abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles, when their volume increased by 15% to X tons. The total import volume increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.3% 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) represented the major importer of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles, mixing up 51% of total imports. Malaysia (X tons) held the second position in the ranking, distantly followed by Vietnam (X tons) and Indonesia (X tons). All these countries together took near 42% share of total imports. Singapore (X tons) and Myanmar (X tons) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to glass fibre filament, roving, and staple glass fibre article imports into Thailand stood at +8.3%. At the same time, Myanmar (+30.7%) and Vietnam (+9.9%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +30.7% from 2012-2021. Indonesia experienced a relatively flat trend pattern. By contrast, Malaysia (-2.0%) and Singapore (-4.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand, Vietnam and Myanmar increased by +16, +4.7 and +1.7 percentage points, respectively.

In value terms, Thailand ($X) constitutes the largest market for imported glass fibre filaments, rovings, chopped strands, and staple glass fibre articles in ASEAN, comprising 50% of total imports. The second position in the ranking was held by Malaysia ($X), with a 17% share of total imports. It was followed by Vietnam, with a 14% share.

In Thailand, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased at an average annual rate of +6.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (-4.2% per year) and Vietnam (+8.6% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, growing by 21% against the previous year. In general, the import price, however, showed a slight reduction. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (-1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform