Asia: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in Asia

In 2021, the Asian glass fibre chopped strand market increased by 1.7% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Glass Fibre Chopped Strands in Asia

In value terms, glass fibre chopped strand production reached $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 10% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Glass Fibre Chopped Strands

Exports in Asia

In 2021, after two years of decline, there was significant growth in overseas shipments of glass fibre chopped strands, when their volume increased by 36% to X tons. Total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre chopped strand exports skyrocketed to $X in 2021. Total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Malaysia (X tons) was the major exporter of glass fibre chopped strands, committing 55% of total exports. China (X tons) ranks second in terms of the total exports with a 29% share, followed by South Korea (5.6%). Taiwan (Chinese) (X tons), Japan (X tons) and Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +13.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibre chopped strand supplying countries in Asia were Malaysia ($X), China ($X) and Japan ($X), with a combined 88% share of total exports. These countries were followed by South Korea, Taiwan (Chinese) and Turkey, which together accounted for a further 10%.

South Korea, with a CAGR of +13.9%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries 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, increasing by 13% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

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 Japan ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+0.1%), while the other leaders experienced mixed trends in the export price figures.

Imports of Glass Fibre Chopped Strands

Imports in Asia

In 2021, after two years of decline, there was significant growth in purchases abroad of glass fibre chopped strands, when their volume increased by 21% to X tons. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre chopped strand imports surged to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of glass fibre chopped strands, namely South Korea, Japan and China, represented more than half of total import. India (X tons) ranks next in terms of the total imports with a 12% share, followed by Thailand (7.2%) and Turkey (5.8%). Taiwan (Chinese) (X tons) held a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +26.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibre chopped strand importing markets in Asia were China ($X), South Korea ($X) and Japan ($X), with a combined 58% share of total imports. These countries were followed by India, Thailand, Turkey and Taiwan (Chinese), which together accounted for a further 28%.

Among the main importing countries, Turkey, with a CAGR of +22.8%, saw 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

In 2021, the import price in Asia amounted to $X per ton, growing by 7.4% against the previous year. Over the period under review, the import price, however, recorded a slight downturn. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in China ($X per ton) and Taiwan (Chinese) ($X per ton), while Japan ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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