ASEAN: Glass Fiber Market 2024

Glass Fiber Market Size in ASEAN

The ASEAN glass fiber market expanded notably to $X in 2021, with an increase of 11% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Glass Fiber Production in ASEAN

In value terms, glass fiber production expanded notably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by 28% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Glass Fiber Exports

Exports in ASEAN

In 2021, the amount of voiles, webs, mats and other articles of glass fibers exported in ASEAN expanded remarkably to X tons, surging by 13% on the previous year's figure. Total exports indicated modest growth from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 25%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, glass fiber exports rose rapidly to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 50%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons) and Thailand (X tons) dominates exports structure, together constituting 81% of total exports. Singapore (X tons) took a 5.3% share (based on physical terms) of total exports, which put it in second place, followed by Myanmar (5%) and Vietnam (4.6%). The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Myanmar (with a CAGR of +222.5%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Thailand ($X) and Vietnam ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 78% of total exports. These countries were followed by Singapore, the Philippines and Myanmar, which together accounted for a further 20%.

Among the main exporting countries, Myanmar, with a CAGR of +196.4%, saw the highest rates of growth with regard to the value of exports, 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 ASEAN stood at $X per ton in 2021, declining by -3.7% against the previous year. Over the period under review, the export price showed a mild curtailment. The growth pace was the most rapid in 2014 when the export price increased by 25%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+10.7%), while the other leaders experienced more modest paces of growth.

Glass Fiber Imports

Imports in ASEAN

For the third year in a row, ASEAN recorded growth in purchases abroad of voiles, webs, mats and other articles of glass fibers, which increased by 11% to X tons in 2021. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by 20%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, glass fiber imports soared to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.1% 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 +63.3% against 2016 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 21% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, Vietnam (X tons), distantly followed by Indonesia (X tons), Thailand (X tons), Malaysia (X tons), the Philippines (X tons) and Singapore (X tons) represented the key importers of voiles, webs, mats and other articles of glass fibers, together making up 96% of total imports. Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +26.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fiber importing markets in ASEAN were Vietnam ($X), Thailand ($X) and Indonesia ($X), with a combined 66% share of total imports. These countries were followed by Singapore, Malaysia, the Philippines and Myanmar, which together accounted for a further 32%.

Among the main importing countries, Myanmar, with a CAGR of +20.3%, saw the highest rates of growth with regard to 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

In 2021, the import price in ASEAN amounted to $X per ton, surging by 7.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2018 an increase of 13%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform