ASEAN: Worked Flat Glass Market 2024

Worked Flat Glass Market Size in ASEAN

In 2021, the ASEAN worked flat glass market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +5.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Worked Flat Glass Production in ASEAN

In value terms, worked flat glass production rose rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 15%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Worked Flat Glass Exports

Exports in ASEAN

In 2021, overseas shipments of worked flat glass increased by 38% to X tons, rising for the third consecutive year after two years of decline. In general, exports enjoyed strong growth. The pace of growth appeared the most rapid in 2015 when exports increased by 159%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, worked flat glass exports skyrocketed to $X in 2021. Overall, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2015 with an increase of 94% against the previous year. The level of export peaked in 2021 and is likely to continue growth in years to come.

Exports by Country

Singapore dominates exports structure, reaching X tons, which was approx. 93% of total exports in 2021. It was distantly followed by Malaysia (X tons), making up a 5.6% share of total exports.

Singapore was also the fastest-growing in terms of the worked flat glass exports, with a CAGR of +16.1% from 2012 to 2021. At the same time, Malaysia (+1.8%) displayed positive paces of growth. Singapore (+16 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -9.6% from 2012 to 2021, respectively.

In value terms, Singapore ($X) remains the largest worked flat glass supplier in ASEAN, comprising 70% of total exports. The second position in the ranking was held by Malaysia ($X), with a 28% share of total exports.

In Singapore, worked flat glass exports expanded at an average annual rate of +15.1% over the period from 2012-2021.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, dropping by -3.8% against the previous year. Over the period under review, the export price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2017 when the export price increased by 30%. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Singapore amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-0.9%).

Worked Flat Glass Imports

Imports in ASEAN

In 2021, overseas purchases of worked flat glass increased by 136% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 167% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in years to come.

In value terms, worked flat glass imports soared to $X in 2021. Overall, imports enjoyed a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Singapore represented the largest importer of worked flat glass in ASEAN, with the volume of imports accounting for X tons, which was near 78% of total imports in 2021. Vietnam (X tons) ranks second in terms of the total imports with a 15% share, followed by Malaysia (5.2%).

From 2012 to 2021, average annual rates of growth with regard to worked flat glass imports into Singapore stood at +6.7%. At the same time, Vietnam (+55.4%) and Malaysia (+10.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +55.4% from 2012-2021. Vietnam (+15 p.p.) significantly strengthened its position in terms of the total imports, while Singapore saw its share reduced by -14% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported worked flat glass in ASEAN, comprising 69% of total imports. The second position in the ranking was held by Vietnam ($X), with a 14% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Singapore totaled +5.7%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+42.9% per year) and Malaysia (+7.7% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, with a decrease of -10.6% against the previous year. In general, the import price saw a pronounced shrinkage. The growth pace was the most rapid in 2018 when the import price increased by 84% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform