Azerbaijan: 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 Azerbaijan

In 2021, the Azerbaijani market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles decreased by -31.5% to $X, falling for the second consecutive year after three years of growth. Overall, consumption continues to indicate a sharp decrease. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

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

Exports from Azerbaijan

In 2021, overseas shipments of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased by 247% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports enjoyed a remarkable increase. 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 surged to $X in 2021. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 211%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X tons) was the main destination for exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from Azerbaijan, with a 91% share of total exports. Moreover, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Turkey exceeded the volume sent to the second major destination, Tajikistan (X tons), tenfold.

From 2016 to 2021, the average annual rate of growth in terms of volume to Turkey totaled +780.0%.

In value terms, Turkey ($X) emerged as the key foreign market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles exports from Azerbaijan, comprising 85% of total exports. The second position in the ranking was taken by Tajikistan ($X), with a 15% share of total exports.

From 2016 to 2021, the average annual rate of growth in terms of value to Turkey amounted to +853.6%.

Export Prices by Country

In 2021, the average export price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X per ton, dropping by -22.3% against the previous year. Overall, the export price, however, posted a significant expansion. The pace of growth was the most pronounced in 2018 when the average export price increased by 516% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Tajikistan ($X per ton), while the average price for exports to Turkey totaled $X per ton.

From 2016 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (+328.8%).

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

Imports into Azerbaijan

In 2021, purchases abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles decreased by -19.8% to X tons, falling for the second consecutive year after three years of growth. In general, imports recorded a dramatic contraction. The pace of growth was the most pronounced in 2019 with an increase of 157%. Over the period under review, imports of reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles expanded slightly to $X in 2021. Over the period under review, imports faced a sharp decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 76%. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of glass fibre filament, roving, and staple glass fibre article to Azerbaijan, accounting for a 47% share of total imports. Moreover, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from China exceeded the figures recorded by the second-largest supplier, Russia (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -27.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+23.5% per year) and Turkey (-21.7% per year).

In value terms, China ($X) constituted the largest supplier of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Azerbaijan, comprising 34% of total imports. The second position in the ranking was taken by the UK ($X), with a 13% share of total imports. It was followed by Japan, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -27.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-9.6% per year) and Japan (+0.2% per year).

Import Prices by Country

In 2021, the average import price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X per ton, surging by 29% against the previous year. In general, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased by +119.4% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 70%. The import price peaked at $X per ton in 2016; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Turkey ($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 (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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