Asia: 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

The Asian market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles reached $X in 2021, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

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

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles expanded to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 7.7% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

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

Exports in Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles, when their volume increased by 32% to X tons. The total export volume increased at an average annual rate of +3.9% over the period 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.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.7% 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 main exporter of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles in Asia, with the volume of exports recording X tons, which was approx. 56% of total exports in 2021. It was distantly followed by Malaysia (X tons) and Taiwan (Chinese) (X tons), together creating a 33% share of total exports. The following exporters - South Korea (X tons), Turkey (X tons) and Japan (X tons) - each accounted for an 8.3% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to glass fibre filament, roving, and staple glass fibre article exports from China stood at +3.6%. At the same time, South Korea (+9.8%), Malaysia (+6.8%), Turkey (+5.1%) and Taiwan (Chinese) (+2.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia, 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 (+5.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-1.7 p.p.) and China (-1.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest glass fibre filament, roving, and staple glass fibre article supplier in Asia, comprising 52% of total exports. The second position in the ranking was taken by Malaysia ($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. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+6.3% per year) and Taiwan (Chinese) (+2.6% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, rising by 18% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2016; however, from 2017 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 Japan ($X per ton), while Turkey ($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

In 2021, after two years of decline, there was significant growth in supplies from abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles, when their volume increased by 28% to X tons. Total imports indicated a resilient expansion from 2012 to 2021: its volume 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. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles surged to $X in 2021. The total import value increased at an average annual rate of +5.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons), South Korea (X tons), China (X tons), Japan (X tons) and India (X tons) represented roughly 70% of total imports in 2021. It was distantly followed by Thailand (X tons) and Saudi Arabia (X tons), together mixing up a 12% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Turkey (with a CAGR of +23.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), China ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 49% of total imports.

Turkey, with a CAGR of +23.1%, 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 stood at $X per ton in 2021, surging by 16% against the previous year. Overall, the import price, however, continues to indicate a slight contraction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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