ASEAN: Safety Glass Market 2024

Safety Glass Market Size in ASEAN

The ASEAN safety glass market totaled $X in 2022, with an increase of 2.8% against the previous year. The total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +3.2% against 2020 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Safety Glass Production in ASEAN

In value terms, safety glass production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 28%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Safety Glass Exports

Exports in ASEAN

After three years of growth, overseas shipments of safety glass decreased by -0.7% to X square meters in 2022. Overall, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 162% against the previous year. The volume of export peaked at X square meters in 2021, and then contracted in the following year.

In value terms, safety glass exports shrank significantly to $X in 2022. Over the period under review, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 102%. The level of export peaked at $X in 2021, and then declined sharply in the following year.

Exports by Country

In 2022, Malaysia (X square meters) represented the largest exporter of safety glass, generating 62% of total exports. It was distantly followed by Vietnam (X square meters) and Thailand (X square meters), together mixing up a 36% share of total exports. Indonesia (X square meters) followed a long way behind the leaders.

Exports from Malaysia increased at an average annual rate of +30.8% from 2012 to 2022. At the same time, Vietnam (+51.9%) and Thailand (+1.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +51.9% from 2012-2022. By contrast, Indonesia (-6.9%) illustrated a downward trend over the same period. Malaysia (+36 p.p.) and Vietnam (+26 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Thailand saw its share reduced by -19.9% and -31.5% from 2012 to 2022, respectively.

In value terms, Malaysia ($X) remains the largest safety glass supplier in ASEAN, comprising 55% of total exports. The second position in the ranking was held by Vietnam ($X), with a 26% share of total exports. It was followed by Thailand, with a 15% share.

In Malaysia, safety glass exports expanded at an average annual rate of +25.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+44.3% per year) and Thailand (-1.8% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per square meter, dropping by -17.2% against the previous year. Overall, the export price recorded a abrupt curtailment. The growth pace was the most rapid in 2014 an increase of 15%. As a result, the export price attained the peak level of $X per square meter. From 2015 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per square meter), while Malaysia ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.9%), while the other leaders experienced a decline in the export price figures.

Safety Glass Imports

Imports in ASEAN

In 2022, safety glass imports in ASEAN soared to X square meters, increasing by 27% on the year before. Overall, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2016 when imports increased by 80%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, safety glass imports shrank dramatically to $X in 2022. In general, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 50% against the previous year. The level of import peaked at $X in 2021, and then fell notably in the following year.

Imports by Country

In 2022, Vietnam (X square meters) was the major importer of safety glass, constituting 55% of total imports. It was distantly followed by Thailand (X square meters) and Malaysia (X square meters), together generating a 36% share of total imports. Singapore (X square meters), Indonesia (X square meters), Cambodia (X square meters) and the Philippines (X square meters) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the safety glass imports, with a CAGR of +59.0% from 2012 to 2022. At the same time, Cambodia (+43.8%), Thailand (+32.0%), Malaysia (+13.2%) and Indonesia (+12.3%) displayed positive paces of growth. The Philippines experienced a relatively flat trend pattern. By contrast, Singapore (-3.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Thailand increased by +51 and +13 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest safety glass importing markets in ASEAN were Vietnam ($X), Thailand ($X) and Malaysia ($X), with a combined 82% share of total imports. These countries were followed by Singapore, Indonesia, the Philippines and Cambodia, which together accounted for a further 17%.

Cambodia, with a CAGR of +41.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per square meter, shrinking by -39.2% against the previous year. Over the period under review, the import price continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2021 when the import price increased by 11% against the previous year. The level of import peaked at $X per square meter in 2012; however, from 2013 to 2022, 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 Singapore ($X per square meter), while Vietnam ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+5.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform