Asia-Pacific: Glass Fiber Market 2024

Glass Fiber Market Size in Asia-Pacific

In 2021, the Asia-Pacific glass fiber market was finally on the rise to reach $X after four years of decline. Overall, consumption, however, showed a slight curtailment. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Glass Fiber Production in Asia-Pacific

In value terms, glass fiber production expanded slightly to $X in 2021 estimated in export price. In general, production, however, recorded a mild contraction. The most prominent rate of growth was recorded in 2016 with an increase of 11% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Glass Fiber Exports

Exports in Asia-Pacific

In 2021, the amount of voiles, webs, mats and other articles of glass fibers exported in Asia-Pacific surged to X tons, growing by 16% compared with 2020 figures. The total export volume increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 26% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, glass fiber exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, resulting at X tons, which was approx. 76% of total exports in 2021. The following exporters - India (X tons), South Korea (X tons), Malaysia (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons) - each recorded a 20% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to glass fiber exports from China stood at +4.6%. At the same time, India (+11.6%), Thailand (+9.9%), South Korea (+2.6%), Taiwan (Chinese) (+2.4%) and Malaysia (+2.1%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +11.6% from 2012-2021. While the share of China (+4 p.p.) and India (+2.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest glass fiber supplier in Asia-Pacific, comprising 71% of total exports. The second position in the ranking was held by India ($X), with a 5.4% share of total exports. It was followed by Malaysia, with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +6.3%. In the other countries, the average annual rates were as follows: India (+15.5% per year) and Malaysia (-1.6% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, with an increase of 8.9% 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 2014; however, from 2015 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 India ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+3.5%), while the other leaders experienced mixed trends in the export price figures.

Glass Fiber Imports

Imports in Asia-Pacific

Glass fiber imports rose markedly to X tons in 2021, surging by 9.9% on 2020. The total import volume increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 10%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, glass fiber imports skyrocketed to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value 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. Based on 2021 figures, imports increased by +76.7% against 2012 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the eight major importers of voiles, webs, mats and other articles of glass fibers, namely India, South Korea, Japan, Vietnam, China, Australia, Indonesia and Thailand, represented more than two-thirds of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +10.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported voiles, webs, mats and other articles of glass fibers in Asia-Pacific, comprising 32% of total imports. The second position in the ranking was held by South Korea ($X), with a 12% share of total imports. It was followed by Japan, with a 9.7% share.

In China, glass fiber imports expanded at an average annual rate of +7.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+10.2% per year) and Japan (+5.0% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, increasing by 6.3% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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