Asia-Pacific: Market for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles 2024

Market Size for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Asia-Pacific

In 2021, the Asia-Pacific market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles decreased by -0.6% to $X, falling for the second year in a row after two years of growth. The market value increased at an average annual rate of +3.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 8.1% against the previous year. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Asia-Pacific

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 7.6%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Exports in Asia-Pacific

In 2021, after two years of decline, there was significant growth in overseas shipments of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles, when their volume increased by 33% to X tons. The total export volume increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern 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, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles surged to $X in 2021. The total export value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern 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.

Exports by Country

China was the major exporting country with an export of around X tons, which resulted at 59% of total exports. Malaysia (X tons) ranks second in terms of the total exports with a 25% share, followed by Taiwan (Chinese) (8.8%). The following exporters - South Korea (X tons) and Japan (X tons) - each resulted at a 5.9% share of total exports.

Exports from China increased at an average annual rate of +3.6% from 2012 to 2021. At the same time, South Korea (+9.8%), Malaysia (+6.8%) and Taiwan (Chinese) (+2.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +9.8% from 2012-2021. By contrast, Japan (-1.7%) illustrated a downward trend over the same period. While the share of Malaysia (+5.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-1.8 p.p.) and China (-2.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest glass fibre filament, roving, and staple glass fibre article supplier in Asia-Pacific, comprising 54% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 23% share of total exports. It was followed by Taiwan (Chinese), with a 10% share.

In China, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles expanded at an average annual rate of +4.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (+6.3% per year) and Taiwan (Chinese) (+2.6% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, with an increase of 17% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($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 (+0.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Imports in Asia-Pacific

In 2021, overseas purchases of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased by 12% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +4.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by 15%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons), China (X tons), Japan (X tons) and India (X tons) represented the main importer of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles in Asia-Pacific, generating 73% of total import. It was distantly followed by Thailand (X tons), comprising a 9.5% share of total imports. The following importers - Taiwan (Chinese) (X tons) and Malaysia (X tons) - each accounted for an 8.1% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by India (with a CAGR of +11.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 60% of total imports. These countries were followed by India, Thailand, Taiwan (Chinese) and Malaysia, which together accounted for a further 30%.

India, with a CAGR of +10.7%, saw the highest rates of growth with regard to 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 2021, surging by 13% against the previous year. In general, the import price, however, recorded a slight curtailment. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Malaysia ($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 a decline in the import price figures.

Source: IndexBox Platform

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