Asia-Pacific: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in Asia-Pacific

The Asia-Pacific glass fibre fabrics market reached $X in 2022, rising by 2.8% against the previous year. The total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.0% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Glass Fibre Fabrics Production in Asia-Pacific

In value terms, glass fibre fabrics production expanded slightly to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.6% against 2020 indices. The pace of growth was the most pronounced in 2019 with an increase of 21%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Glass Fibre Fabrics Exports

Exports in Asia-Pacific

In 2022, the amount of glass fibre fabrics exported in Asia-Pacific dropped to X tons, declining by -7.7% against the year before. The total export volume increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 23%. As a result, the exports reached the peak of X tons, and then fell in the following year.

In value terms, glass fibre fabrics exports shrank to $X in 2022. The total export value increased at an average annual rate of +3.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 30% against the previous year. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

China dominates exports structure, amounting to X tons, which was approx. 74% of total exports in 2022. Taiwan (Chinese) (X tons) took the second position in the ranking, followed by India (X tons) and Hong Kong SAR (X tons). All these countries together held near 21% share of total exports. Japan (X tons) held a relatively small share of total exports.

Exports from China increased at an average annual rate of +2.6% from 2012 to 2022. At the same time, India (+25.7%) and Hong Kong SAR (+3.2%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +25.7% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Japan (-1.1%) illustrated a downward trend over the same period. While the share of India (+6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-3.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest glass fibre fabrics supplier in Asia-Pacific, comprising 47% of total exports. The second position in the ranking was held by Japan ($X), with a 20% share of total exports. It was followed by Hong Kong SAR, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +2.9%. In the other countries, the average annual rates were as follows: Japan (+5.8% per year) and Hong Kong SAR (+4.9% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, falling by -2.8% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 6% against the previous year. The level of export peaked at $X per ton in 2021, and then fell modestly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Japan (+6.9%), while the other leaders experienced more modest paces of growth.

Glass Fibre Fabrics Imports

Imports in Asia-Pacific

After two years of growth, purchases abroad of glass fibre fabrics decreased by -22.5% to X tons in 2022. Overall, imports recorded a noticeable shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 33%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, glass fibre fabrics imports fell dramatically to $X in 2022. In general, imports showed a perceptible shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 21%. Over the period under review, imports hit record highs at $X in 2021, and then contracted rapidly in the following year.

Imports by Country

India (X tons), Japan (X tons), Thailand (X tons) and South Korea (X tons) represented roughly 69% of total imports in 2022. Indonesia (X tons) took a 6.5% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (5.6%). Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Thailand (with a CAGR of +10.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and Hong Kong SAR ($X) were the countries with the highest levels of imports in 2022, together accounting for 60% of total imports. Thailand, India, Vietnam and Indonesia lagged somewhat behind, together accounting for a further 25%.

Thailand, with a CAGR of +10.1%, 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

In 2022, the import price in Asia-Pacific amounted to $X per ton, dropping by -14.5% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 9.3%. Over the period under review, import prices attained the maximum at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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