Asia: Worked Flat Glass Market 2024

Worked Flat Glass Market Size in Asia

The Asian worked flat glass market expanded modestly to $X in 2021, surging by 2.2% against the previous year. The total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +57.8% against 2013 indices. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in the immediate term.

Worked Flat Glass Production in Asia

In value terms, worked flat glass production fell to $X in 2021 estimated in export price. The total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +56.5% against 2015 indices. The growth pace was the most rapid in 2019 when the production volume increased by 17% against the previous year. The level of production peaked at $X in 2020, and then dropped in the following year.

Worked Flat Glass Exports

Exports in Asia

In 2021, exports of worked flat glass in Asia expanded markedly to X tons, surging by 12% on the year before. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.4% 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 +108.8% against 2013 indices. The pace of growth was the most pronounced in 2015 with an increase of 17%. The volume of export peaked in 2021 and is likely to see steady growth in the near future.

In value terms, worked flat glass exports surged to $X in 2021. Total exports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.5% 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 +46.8% against 2016 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 26%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

In 2021, China (X tons) represented the key exporter of worked flat glass, creating 55% of total exports. Singapore (X tons) took the second position in the ranking, followed by South Korea (X tons) and Taiwan (Chinese) (X tons). All these countries together held near 35% share of total exports. The following exporters - Turkey (X tons), Hong Kong SAR (X tons) and Japan (X tons) - together made up 7.7% 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%), Turkey (+15.0%), 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, 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 (+8.3 p.p.), Singapore (+8 p.p.) and Turkey (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-4.9 p.p.) and China (-10.4 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 were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined 61% share of total exports.

South Korea, with a CAGR of +16.6%, recorded the highest growth rate of the value of exports, among 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 stood at $X per ton in 2021, increasing by 3% against the previous year. In general, the export price, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when the export price increased by 9.7% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+6.2%), while the other leaders experienced a decline in the export price figures.

Worked Flat Glass Imports

Imports in Asia

For the third consecutive year, Asia recorded growth in purchases abroad of worked flat glass, which increased by 52% to X tons in 2021. Over the period under review, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 64% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, worked flat glass imports soared to $X in 2021. Total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.8% 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 +73.8% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Singapore (X tons) was the main importer of worked flat glass, achieving 44% of total imports. It was distantly followed by China (X tons), Hong Kong SAR (X tons) and Vietnam (X tons), together committing a 34% share of total imports. The following importers - Taiwan (Chinese) (X tons), Malaysia (X tons), South Korea (X tons), Japan (X tons), Saudi Arabia (X tons) and Iraq (X tons) - together made up 16% of total imports.

From 2012 to 2021, average annual rates of growth with regard to worked flat glass imports into Singapore stood at +6.7%. At the same time, Vietnam (+55.4%), Iraq (+49.6%), Saudi Arabia (+48.5%), 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, with a CAGR of +55.4% from 2012-2021. By contrast, Japan (-1.2%) and South Korea (-7.0%) illustrated a downward trend over the same period. Vietnam (+8.3 p.p.), China (+5.8 p.p.), Hong Kong SAR (+2.3 p.p.), Saudi Arabia (+2.1 p.p.) and Iraq (+2 p.p.) significantly strengthened its position in terms of the total imports, while Japan, Singapore and South Korea saw its share reduced by -3.2%, -6.3% and -7.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Singapore ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 59% of total imports. South Korea, Hong Kong SAR, Taiwan (Chinese), Vietnam, Malaysia, Saudi Arabia and Iraq lagged somewhat behind, together comprising a further 38%.

Vietnam, with a CAGR of +42.9%, saw the highest growth rate of 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 amounted to $X per ton, dropping by -11.9% against the previous year. In general, the import price showed a deep setback. The pace of growth was the most pronounced in 2018 when the import price increased by 31% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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 Japan ($X per ton), while Iraq ($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

Frequently Asked Questions (FAQ) :