Asia-Pacific: Market for Glass in The Mass 2024

Market Size for Glass in The Mass in Asia-Pacific

In 2022, the Asia-Pacific glass in the mass market increased by 40% to $X, rising for the third consecutive year after five years of decline. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Glass in The Mass in Asia-Pacific

In value terms, glass in the mass production reached $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by 48% against the previous year. Over the period under review, glass in mass production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Glass in The Mass

Exports in Asia-Pacific

In 2022, after three years of decline, there was significant growth in overseas shipments of glass in the mass, when their volume increased by 5.6% to X tons. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 15%. Over the period under review, the glass in mass exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass in the mass exports surged to $X in 2022. In general, exports, however, showed a slight slump. Over the period under review, the glass in mass exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, China (X tons), distantly followed by Taiwan (Chinese) (X tons), India (X tons), Japan (X tons) and Vietnam (X tons) were the main exporters of glass in the mass, together comprising 64% of total exports. Thailand (X tons), Cambodia (X tons), South Korea (X tons), Singapore (X tons), New Zealand (X tons), Lao People's Democratic Republic (X tons), Nepal (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Cambodia (with a CAGR of +67.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest glass in the mass supplying countries in Asia-Pacific were China ($X), Japan ($X) and Taiwan (Chinese) ($X), together comprising 88% of total exports. Thailand, Vietnam, New Zealand, Malaysia, India, South Korea, Singapore, Cambodia, Nepal and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further 9.4%.

Cambodia, with a CAGR of +61.6%, saw the highest growth rate of the value of exports, among 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 2022, picking up by 16% against the previous year. Over the period under review, the export price, however, recorded a mild contraction. The growth pace was the most rapid in 2021 when the export price increased by 36%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+17.1%), while the other leaders experienced more modest paces of growth.

Imports of Glass in The Mass

Imports in Asia-Pacific

In 2022, after two years of decline, there was significant growth in purchases abroad of glass in the mass, when their volume increased by 76% to X tons. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern 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.

In value terms, glass in the mass imports totaled $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 35%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Malaysia was the key importer of glass in the mass in Asia-Pacific, with the volume of imports reaching X tons, which was approx. 40% of total imports in 2022. Indonesia (X tons) ranks second in terms of the total imports with a 15% share, followed by India (13%), Thailand (11%) and Japan (4.6%). The following importers - Vietnam (X tons) and Bangladesh (X tons) - each recorded a 7.6% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to glass in the mass imports into Malaysia stood at +3.0%. At the same time, Bangladesh (+47.2%), Vietnam (+20.9%), Thailand (+18.8%) and Indonesia (+1.0%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +47.2% from 2012-2022. By contrast, Japan (-2.6%) and India (-5.4%) illustrated a downward trend over the same period. While the share of Thailand (+8.4 p.p.), Malaysia (+4.1 p.p.), Bangladesh (+3.4 p.p.) and Vietnam (+3.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Japan (-2.6 p.p.) and India (-14.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), Thailand ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 41% of total imports.

Thailand, with a CAGR of +44.4%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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 2022, which is down by -40.3% against the previous year. Import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass in the mass import price increased by +6.7% against 2020 indices. The growth pace was the most rapid in 2021 when the import price increased by 79%. As a result, import price reached the peak level of $X per ton, and then dropped notably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+21.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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