Bangladesh: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Bangladesh

The Bangladeshi glass fibre and article market contracted slightly to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption showed a noticeable decline. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Glass Fibres and Glass Fibre Articles in Bangladesh

In value terms, glass fibre and article production reduced slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable shrinkage. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Bangladesh

In 2022, overseas shipments of glass fibres and glass fibre articles were finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. Over the period under review, exports continue to indicate resilient growth. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass fibre and article exports amounted to $X in 2022. Overall, exports recorded a resilient expansion. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

India (X tons) and Italy (X tons) were the main destinations of glass fibre and article exports from Bangladesh.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%).

In value terms, the largest markets for glass fibre and article exported from Bangladesh were Italy ($X) and India ($X).

Italy, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average glass fibre and article export price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price saw a abrupt downturn. The pace of growth appeared the most rapid in 2017 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres and Glass Fibre Articles

Imports into Bangladesh

In 2022, supplies from abroad of glass fibres and glass fibre articles decreased by X% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports, however, posted a prominent expansion. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, glass fibre and article imports totaled $X in 2022. In general, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibre and article supplier to Bangladesh, accounting for a X% share of total imports. Moreover, glass fibre and article imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Malaysia (X% per year).

In value terms, China ($X) constituted the largest supplier of glass fibres and glass fibre articles to Bangladesh, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and India (X% per year).

Import Prices by Country

The average glass fibre and article import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass fibre and article import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :