Asia-Pacific: Safety Glass Market 2024

Safety Glass Market Size in Asia-Pacific

In 2022, the Asia-Pacific safety glass market decreased by -24.1% to $X, falling for the third consecutive year after two years of growth. Overall, consumption recorded a slight decline. The most prominent rate of growth was recorded in 2016 when the market value increased by 9.8% against the previous year. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Safety Glass Production in Asia-Pacific

In value terms, safety glass production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 17%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Safety Glass Exports

Exports in Asia-Pacific

Safety glass exports surged to X square meters in 2022, jumping by 65% on 2021 figures. Over the period under review, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 177%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, safety glass exports contracted to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +96.4% against 2012 indices. The growth pace was the most rapid in 2021 when exports increased by 26%. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

China dominates exports structure, finishing at X square meters, which was near 91% of total exports in 2022. Malaysia (X square meters) and Vietnam (X square meters) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +14.3% from 2012 to 2022. At the same time, Vietnam (+51.9%) and Malaysia (+30.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +51.9% from 2012-2022. While the share of Malaysia (+3 p.p.) and Vietnam (+1.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest safety glass supplier in Asia-Pacific, comprising 83% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 5% share of total exports.

In China, safety glass exports increased at an average annual rate of +8.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+25.0% per year) and Vietnam (+44.3% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per square meter, waning by -40% against the previous year. Overall, the export price continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2016 an increase of 118%. As a result, the export price attained the peak level of $X per square meter. From 2017 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per square meter), while China ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-4.4%), while the other leaders experienced a decline in the export price figures.

Safety Glass Imports

Imports in Asia-Pacific

For the seventh consecutive year, Asia-Pacific recorded growth in supplies from abroad of safety glass, which increased by 7.6% to X square meters in 2022. Total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.9% 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 +112.9% against 2012 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 17%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, safety glass imports fell markedly to $X in 2022. The total import value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 13%. As a result, imports reached the peak of $X, and then contracted markedly in the following year.

Imports by Country

In 2022, Vietnam (X square meters), distantly followed by South Korea (X square meters), Thailand (X square meters), India (X square meters) and Malaysia (X square meters) were the largest importers of safety glass, together achieving 75% of total imports. Australia (X square meters), Taiwan (Chinese) (X square meters), China (X square meters), Japan (X square meters), Hong Kong SAR (X square meters) and Singapore (X square meters) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +59.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest safety glass importing markets in Asia-Pacific were Vietnam ($X), South Korea ($X) and India ($X), with a combined 43% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +38.5%, 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 2022, the import price in Asia-Pacific amounted to $X per square meter, shrinking by -22% against the previous year. Over the period under review, the import price showed a perceptible setback. The most prominent rate of growth was recorded in 2015 an increase of 15% against the previous year. As a result, import price reached the peak level of $X per square meter. From 2016 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($X per square meter), while Vietnam ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+5.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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