Asia-Pacific: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in Asia-Pacific

In 2021, the Asia-Pacific glass fibre chopped strand market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the market value increased by 9.8%. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Glass Fibre Chopped Strands in Asia-Pacific

In value terms, glass fibre chopped strand production amounted to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by 9.9% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Glass Fibre Chopped Strands

Exports in Asia-Pacific

In 2021, overseas shipments of glass fibre chopped strands increased by 37% to X tons for the first time since 2018, thus ending a two-year declining trend. Total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass fibre chopped strand exports skyrocketed to $X in 2021. Total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. 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

Malaysia represented the main exporter of glass fibre chopped strands in Asia-Pacific, with the volume of exports recording X tons, which was near 56% of total exports in 2021. China (X tons) took the second position in the ranking, distantly followed by South Korea (X tons). All these countries together took near 35% share of total exports. The following exporters - Taiwan (Chinese) (X tons) and Japan (X tons) - each recorded an 8.6% share of total exports.

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-Pacific were Malaysia ($X), China ($X) and Japan ($X), with a combined 90% share of total exports. South Korea and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 9.5%.

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

The export price in Asia-Pacific stood at $X per ton in 2021, rising by 13% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 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 Japan ($X per ton), while Taiwan (Chinese) ($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-Pacific

After three years of decline, purchases abroad of glass fibre chopped strands increased by 21% to X tons in 2021. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +6.0% 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 soared to $X in 2021. The total import value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

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) held the next position in the ranking, followed by Thailand (X tons) and Taiwan (Chinese) (X tons). All these countries together held near 26% share of total imports. Malaysia (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +13.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Japan ($X) were the countries with the highest levels of imports in 2021, with a combined 65% share of total imports. These countries were followed by India, Thailand, Taiwan (Chinese) and Malaysia, which together accounted for a further 28%.

In terms of the main importing countries, India, with a CAGR of +13.0%, 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

The import price in Asia-Pacific stood at $X per ton in 2021, increasing by 6.4% against the previous year. In general, the import price, however, showed a slight curtailment. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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