Asia: Glass Fiber Market 2024

Glass Fiber Market Size in Asia

In 2021, the Asian glass fiber market was finally on the rise to reach $X after four years of decline. Overall, consumption, however, recorded a mild descent. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Glass Fiber Production in Asia

In value terms, glass fiber production expanded to $X in 2021 estimated in export price. Overall, production, however, showed a slight slump. The most prominent rate of growth was recorded in 2016 when the production volume increased by 9.9% 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

In 2021, glass fiber exports in Asia skyrocketed to X tons, jumping by 15% compared with the previous year's figure. The total export volume 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 in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by 26%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass fiber exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. 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. 66% of total exports in 2021. It was distantly followed by Turkey (X tons), generating a 5.9% share of total exports. India (X tons), South Korea (X tons), Malaysia (X tons), Taiwan (Chinese) (X tons), Thailand (X tons), Kuwait (X tons) and Saudi Arabia (X tons) followed a long way behind the leaders.

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%), Turkey (+7.4%), 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, with a CAGR of +11.6% from 2012-2021. By contrast, Saudi Arabia (-3.7%) and Kuwait (-5.5%) illustrated a downward trend over the same period. China (+5.2 p.p.), India (+1.9 p.p.) and Turkey (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and Kuwait saw its share reduced by -2.1% and -2.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest glass fiber supplier in Asia, comprising 65% of total exports. The second position in the ranking was taken by India ($X), with a 4.9% share of total exports. It was followed by Malaysia, with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +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 stood at $X per ton in 2021, increasing by 8.7% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat 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 ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+3.5%), while the other leaders experienced more modest paces of growth.

Glass Fiber Imports

Imports in Asia

In 2021, after two years of decline, there was significant growth in overseas purchases of voiles, webs, mats and other articles of glass fibers, when their volume increased by 6.2% to X tons. The total import volume increased at an average annual rate of +3.6% 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 2017 when imports increased by 13% against the previous year. 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 rose significantly to $X in 2021. The total import value increased at an average annual rate of +5.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 18% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, India (X tons), South Korea (X tons), Japan (X tons), Vietnam (X tons), China (X tons), Turkey (X tons), Indonesia (X tons), the United Arab Emirates (X tons), Thailand (X tons), Saudi Arabia (X tons), Kazakhstan (X tons) and Pakistan (X tons) represented the largest importer of voiles, webs, mats and other articles of glass fibers in Asia, committing 78% of total import. Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Turkey (with a CAGR of +15.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported voiles, webs, mats and other articles of glass fibers in Asia, comprising 27% of total imports. The second position in the ranking was taken by South Korea ($X), with an 11% share of total imports. It was followed by Japan, with an 8.4% share.

In China, glass fiber imports increased at an average annual rate of +7.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+10.2% per year) and Japan (+5.0% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, surging by 8.1% against the previous year. Over the last nine years, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2019 when the import price increased by 11%. Over the period under review, import prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Kazakhstan ($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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