Asia-Pacific: Worked Flat Glass Market 2024

Worked Flat Glass Market Size in Asia-Pacific

For the sixth consecutive year, the Asia-Pacific worked flat glass market recorded growth in sales value, which increased by 2.4% to $X in 2021. The total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +59.8% against 2013 indices. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Worked Flat Glass Production in Asia-Pacific

In value terms, worked flat glass production fell to $X in 2021 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +57.7% against 2015 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 17% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then contracted slightly in the following year.

Worked Flat Glass Exports

Exports in Asia-Pacific

In 2021, the amount of worked flat glass exported in Asia-Pacific reached X tons, rising by 11% on 2020. Total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +106.2% against 2013 indices. The pace of growth appeared the most rapid in 2015 with an increase of 18%. The volume of export peaked in 2021 and is likely to see steady growth in years to come.

In value terms, worked flat glass exports skyrocketed to $X in 2021. Total exports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +46.3% against 2016 indices. The pace of growth was the most pronounced in 2020 when exports increased by 26% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

In 2021, China (X tons) represented the key exporter of worked flat glass, constituting 58% of total exports. It was distantly followed by Singapore (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons), together making up a 37% share of total exports. The following exporters - Hong Kong SAR (X tons) and Japan (X tons) - each finished at a 3.9% share of total exports.

Exports from China increased at an average annual rate of +5.4% from 2012 to 2021. At the same time, South Korea (+25.9%), Singapore (+16.1%), Taiwan (Chinese) (+6.4%) and Hong Kong SAR (+1.9%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +25.9% from 2012-2021. By contrast, Japan (-8.1%) illustrated a downward trend over the same period. While the share of South Korea (+8.8 p.p.) and Singapore (+8.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-5 p.p.) and China (-9.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest worked flat glass supplying countries in Asia-Pacific were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined 62% share of total exports.

South Korea, with a CAGR of +16.6%, saw the highest rates of growth with regard to 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, picking up by 4.4% against the previous year. In general, the export price, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2020 when the export price increased by 9.2%. The level of export peaked at $X per ton in 2012; however, from 2013 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 Japan (+6.2%), while the other leaders experienced a decline in the export price figures.

Worked Flat Glass Imports

Imports in Asia-Pacific

In 2021, imports of worked flat glass in Asia-Pacific surged to X tons, jumping by 53% against 2020 figures. In general, imports saw resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 67%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, worked flat glass imports skyrocketed to $X in 2021. Total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +73.3% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Singapore was the largest importer of worked flat glass in Asia-Pacific, with the volume of imports accounting for X tons, which was approx. 47% of total imports in 2021. China (X tons) ranks second in terms of the total imports with a 14% share, followed by Hong Kong SAR (13%) and Vietnam (9.1%). Taiwan (Chinese) (X tons), Malaysia (X tons) and South Korea (X tons) followed a long way behind the leaders.

Imports into Singapore increased at an average annual rate of +6.7% from 2012 to 2021. At the same time, Vietnam (+55.4%), China (+15.3%), Hong Kong SAR (+10.9%), Malaysia (+10.1%) and Taiwan (Chinese) (+8.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +55.4% from 2012-2021. By contrast, South Korea (-7.0%) illustrated a downward trend over the same period. While the share of Vietnam (+8.7 p.p.), China (+6.2 p.p.) and Hong Kong SAR (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Singapore (-5.9 p.p.) and South Korea (-7.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Singapore ($X) and South Korea ($X) were the countries with the highest levels of imports in 2021, with a combined 59% share of total imports. These countries were followed by Hong Kong SAR, Taiwan (Chinese), Vietnam and Malaysia, which together accounted for a further 27%.

Vietnam, with a CAGR of +42.9%, recorded the highest rates of growth with regard to the value of imports, among 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

In 2021, the import price in Asia-Pacific amounted to $X per ton, declining by -12.9% against the previous year. Overall, the import price showed a abrupt decline. The most prominent rate of growth was recorded in 2018 when the import price increased by 33% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Singapore ($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 (+7.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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