Asia: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in Asia

The Asian glass fibre fabrics market totaled $X in 2022, with an increase of 2.4% against the previous year. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 -3.6% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Glass Fibre Fabrics Production in Asia

In value terms, glass fibre fabrics production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 33%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Glass Fibre Fabrics Exports

Exports in Asia

In 2022, exports of glass fibre fabrics in Asia contracted to X tons, which is down by -9.7% on the previous year's figure. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 29%. As a result, the exports reached the peak of X tons, and then dropped in the following year.

In value terms, glass fibre fabrics exports dropped to $X in 2022. The total export value increased at an average annual rate of +3.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 33% against the previous year. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

China prevails in exports structure, accounting for X tons, which was near 70% of total exports in 2022. Taiwan (Chinese) (X tons) took the second position in the ranking, followed by India (X tons), Hong Kong SAR (X tons) and Turkey (X tons). All these countries together took near 25% 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%), Turkey (+10.6%) and Hong Kong SAR (+3.2%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +25.7% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. While the share of India (+5.6 p.p.) and Turkey (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-2 p.p.) and Taiwan (Chinese) (-3.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest glass fibre fabrics supplier in Asia, comprising 45% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 12% share of total exports. It was followed by Taiwan (Chinese), with an 11% share.

In China, glass fibre fabrics exports expanded at an average annual rate of +2.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (+4.9% per year) and Taiwan (Chinese) (+2.0% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with a decrease of -1.7% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 6.3%. The level of export peaked at $X per ton in 2021, and then contracted 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 Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.8%), while the other leaders experienced more modest paces of growth.

Glass Fibre Fabrics Imports

Imports in Asia

In 2022, after two years of growth, there was significant decline in overseas purchases of glass fibre fabrics, when their volume decreased by -16.1% to X tons. Over the period under review, imports saw a pronounced shrinkage. The growth pace was the most rapid in 2017 when imports increased by 23% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, glass fibre fabrics imports dropped dramatically to $X in 2022. In general, imports recorded a pronounced slump. The pace of growth appeared the most rapid in 2017 when imports increased by 18% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then dropped markedly in the following year.

Imports by Country

In 2022, Turkey (X tons), distantly followed by India (X tons), Japan (X tons), Thailand (X tons), South Korea (X tons) and the United Arab Emirates (X tons) represented the major importers of glass fibre fabrics, together committing 73% of total imports. Indonesia (X tons), Hong Kong SAR (X tons), Saudi Arabia (X tons), Vietnam (X tons), Malaysia (X tons) and Taiwan (Chinese) (X tons) took a relatively small share of total imports.

Imports into Turkey increased at an average annual rate of +3.7% from 2012 to 2022. At the same time, Thailand (+10.1%), India (+8.6%), Vietnam (+7.9%), Malaysia (+6.5%), Indonesia (+6.2%) and the United Arab Emirates (+1.3%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of +10.1% from 2012-2022. Hong Kong SAR and South Korea experienced a relatively flat trend pattern. By contrast, Japan (-1.6%), Taiwan (Chinese) (-5.5%) and Saudi Arabia (-13.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, India, Thailand, Indonesia and South Korea increased by +11, +7.6, +6.6, +2.2 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest glass fibre fabrics importing markets in Asia were South Korea ($X), Japan ($X) and Turkey ($X), together accounting for 52% of total imports. Hong Kong SAR, Thailand, India, the United Arab Emirates, Taiwan (Chinese), Malaysia, Vietnam, Indonesia and Saudi Arabia lagged somewhat behind, together accounting for a further 39%.

In terms of the main importing countries, Thailand, with a CAGR of +10.1%, saw the highest rates of growth with regard to the value of imports, 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 2022, reducing by -16.9% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 7.6% against the previous year. The level of import peaked at $X per ton in 2021, and then shrank significantly 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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