Asia: Flat Glass Market 2024

Flat Glass Market Size in Asia

After five years of growth, the Asian flat glass market decreased by -4.4% to $X in 2021. The market value increased at an average annual rate of +1.3% 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 fell in the following year.

Flat Glass Production in Asia

In value terms, flat glass production declined 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 indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of 18% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then dropped in the following year.

Flat Glass Exports

Exports in Asia

After three years of decline, overseas shipments of flat glass increased by 1.7% to X tons in 2021. The total export volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 24% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, flat glass exports rose remarkably to $X in 2021. The total export value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when exports increased by 10% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

In 2021, Hong Kong SAR (X tons) and China (X tons) were the main exporters of flat glass in Asia, together amounting to near 52% of total exports. Iran (X tons) held a 5.9% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (5.6%) and Saudi Arabia (5.5%). Thailand (X tons), Kyrgyzstan (X tons), Indonesia (X tons), Japan (X tons), Vietnam (X tons), South Korea (X tons), India (X tons) and the United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Kyrgyzstan (with a CAGR of +20.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), China ($X) and Japan ($X) constituted the countries with the highest levels of exports in 2021, together comprising 69% of total exports. South Korea, Saudi Arabia, Kyrgyzstan, Vietnam, Thailand, Turkey, India, Iran, Indonesia and the United Arab Emirates lagged somewhat behind, together comprising a further 25%.

Among the main exporting countries, Kyrgyzstan, with a CAGR of +31.3%, 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

In 2021, the export price in Asia amounted to $X per ton, rising by 7.2% against the previous year. In general, the export price, however, saw a slight contraction. The pace of growth was the most pronounced in 2018 an increase of 14% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.6%), while the other leaders experienced more modest paces of growth.

Flat Glass Imports

Imports in Asia

In 2021, imports of flat glass in Asia stood at X tons, almost unchanged from the previous year's figure. The total import volume increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 23% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, flat glass imports expanded markedly to $X in 2021. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 11%. The level of import peaked at $X in 2018; afterwards, it flattened through to 2021.

Imports by Country

In 2021, Hong Kong SAR (X tons), distantly followed by China (X tons), South Korea (X tons), Kazakhstan (X tons), Turkey (X tons), India (X tons) and Malaysia (X tons) were the key importers of flat glass, together generating 70% of total imports. The United Arab Emirates (X tons), Iraq (X tons), the Philippines (X tons), Japan (X tons), Taiwan (Chinese) (X tons) and Vietnam (X tons) took a relatively small share of total imports.

Imports into Hong Kong SAR increased at an average annual rate of +11.8% from 2012 to 2021. At the same time, the Philippines (+16.1%), China (+15.7%), Kazakhstan (+15.2%), Iraq (+14.7%), Turkey (+6.7%), India (+6.1%), the United Arab Emirates (+4.7%) and Vietnam (+2.7%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia, with a CAGR of +16.1% from 2012-2021. Malaysia and South Korea experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-4.6%) and Japan (-15.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Hong Kong SAR, China and Kazakhstan increased by +11, +7 and +4.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported flat glass in Asia, comprising 43% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with an 18% share of total imports. It was followed by South Korea, with a 5.5% share.

In China, flat glass imports increased at an average annual rate of +7.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (+19.5% per year) and South Korea (-14.2% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, surging by 3.7% against the previous year. Over the period under review, the import price, however, saw a noticeable slump. The most prominent rate of growth was recorded in 2018 when the import price increased by 7.7% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :