Asia-Pacific: Flat Glass Market 2024

Flat Glass Market Size in Asia-Pacific

In 2021, the Asia-Pacific flat glass market decreased by -4.6% to $X for the first time since 2015, thus ending a five-year rising trend. The market value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020, and then dropped slightly in the following year.

Flat Glass Production in Asia-Pacific

In value terms, flat glass production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 20% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then contracted in the following year.

Flat Glass Exports

Exports in Asia-Pacific

Flat glass exports fell to X tons in 2021, shrinking by -7.9% against 2020. The total export volume increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 when exports increased by 24% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, flat glass exports reached $X in 2021. Overall, exports, however, saw a mild increase. The growth pace was the most rapid in 2018 when exports increased by 11%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Hong Kong SAR (X tons) and China (X tons) were the main exporters of flat glass in 2021, resulting at approx. 37% and 32% of total exports, respectively. It was distantly followed by Thailand (X tons) and Indonesia (X tons), together mixing up a 9.7% share of total exports. Japan (X tons), Vietnam (X tons), South Korea (X tons), India (X tons), Malaysia (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +14.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), China ($X) and Japan ($X) were the countries with the highest levels of exports in 2021, with a combined 78% share of total exports.

Among the main exporting countries, China, with a CAGR of +13.5%, recorded the highest growth rate of 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 Asia-Pacific stood at $X per ton in 2021, picking up by 12% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the export price increased by 16%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while Indonesia ($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-Pacific

In 2021, overseas purchases of flat glass decreased by -3.7% to X tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 25%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, flat glass imports totaled $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 12% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Hong Kong SAR (X tons) was the largest importer of flat glass, creating 35% of total imports. China (X tons) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (11%), India (8%) and Malaysia (6.6%). The Philippines (X tons), New Zealand (X tons), Japan (X tons), Australia (X tons), Taiwan (Chinese) (X tons) and Vietnam (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to flat glass imports into Hong Kong SAR stood at +11.8%. At the same time, the Philippines (+16.1%), China (+15.7%), New Zealand (+13.5%), India (+6.1%), Australia (+5.4%) and Vietnam (+2.7%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia-Pacific, 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. Hong Kong SAR (+16 p.p.), China (+10 p.p.) and the Philippines (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia, Taiwan (Chinese), South Korea and Japan saw its share reduced by -2.5%, -2.9%, -5.2% and -15.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported flat glass in Asia-Pacific, comprising 49% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 21% share of total imports. It was followed by South Korea, with a 6.2% share.

In China, flat glass imports expanded 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-Pacific stood at $X per ton in 2021, picking up by 5.4% against the previous year. Overall, the import price, however, recorded a noticeable shrinkage. The growth pace was the most rapid in 2018 an increase of 7.4% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

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