ASEAN: Market for Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards 2024

Market Size for Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards in ASEAN

After four years of growth, the ASEAN non-woven glass fibre articles market decreased by -0.8% to $X in 2021. The market value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then shrank in the following year.

Production of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards in ASEAN

In value terms, non-woven glass fibre articles production stood at $X in 2021 estimated in export price. In general, production enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 72%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards

Exports in ASEAN

In 2021, after two years of decline, there was significant growth in shipments abroad of non-woven glass fibre webs, felts, mattresses and boards, when their volume increased by 364% to X tons. In general, exports posted a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-woven glass fibre articles exports surged to $X in 2021. Over the period under review, exports posted buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia was the key exporting country with an export of about X tons, which amounted to 68% of total exports. It was distantly followed by Thailand (X tons), generating a 29% share of total exports.

Malaysia was also the fastest-growing in terms of the non-woven glass fibre webs, felts, mattresses and boards exports, with a CAGR of +50.9% from 2012 to 2021. At the same time, Thailand (+3.1%) displayed positive paces of growth. While the share of Malaysia (+63 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-45.6 p.p.) displayed negative dynamics.

In value terms, Malaysia ($X) emerged as the largest non-woven glass fibre articles supplier in ASEAN, comprising 60% of total exports. The second position in the ranking was held by Thailand ($X), with a 30% share of total exports.

In Malaysia, non-woven glass fibre articles exports expanded at an average annual rate of +47.8% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, with a decrease of -38.9% against the previous year. Overall, the export price saw a noticeable decline. The most prominent rate of growth was recorded in 2019 when the export price increased by 25%. Over the period under review, the export prices hit record highs at $X per ton in 2020, and then fell markedly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Thailand ($X per ton), while Malaysia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+1.0%).

Imports of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards

Imports in ASEAN

For the third consecutive year, ASEAN recorded growth in purchases abroad of non-woven glass fibre webs, felts, mattresses and boards, which increased by 21% to X tons in 2021. Total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +26.3% against 2017 indices. The growth pace was the most rapid in 2017 with an increase of 45% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, non-woven glass fibre articles imports soared to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +5.7% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 56% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, Vietnam (X tons) represented the main importer of non-woven glass fibre webs, felts, mattresses and boards, committing 39% of total imports. Thailand (X tons) took a 22% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (14%), Malaysia (8.9%) and Myanmar (7.6%). The following importers - Singapore (X tons) and the Philippines (X tons) - each accounted for a 7.5% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +20.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-woven glass fibre articles importing markets in ASEAN were Vietnam ($X), Thailand ($X) and Malaysia ($X), together comprising 75% of total imports. Indonesia, Singapore, Myanmar and the Philippines lagged somewhat behind, together comprising a further 24%.

Among the main importing countries, Myanmar, with a CAGR of +21.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, picking up by 9.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2016 an increase of 22% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per ton), while Myanmar ($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 Philippines (+9.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform