Bangladesh: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in Bangladesh

The Bangladeshi glass fibre fabrics market shrank to $X in 2022, declining by -4.4% against the previous year. In general, consumption continues to indicate a pronounced shrinkage. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Glass Fibre Fabrics Production in Bangladesh

In value terms, glass fibre fabrics production declined slightly to $X in 2022 estimated in export price. Overall, production recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 46%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Glass Fibre Fabrics Exports

Exports from Bangladesh

In 2022, overseas shipments of glass fibre fabrics were finally on the rise to reach X tons after four years of decline. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 43,673%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, glass fibre fabrics exports expanded slightly to $X in 2022. Over the period under review, exports recorded a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 62,559% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Italy (X tons) was the main destination for glass fibre fabrics exports from Bangladesh, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy totaled +44.6%.

In value terms, Italy ($X) also remains the key foreign market for glass fibre fabrics exports from Bangladesh.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy amounted to +56.0%.

Export Prices by Country

The average glass fibre fabrics export price stood at $X per ton in 2022, approximately equating the previous year. Over the period under review, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass fibre fabrics export price decreased by -6.2% against 2016 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 43% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Italy.

From 2012 to 2022, the rate of growth in terms of prices for Romania amounted to +19.2% per year.

Glass Fibre Fabrics Imports

Imports into Bangladesh

In 2022, overseas purchases of glass fibre fabrics increased by 22% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports saw a prominent increase. The growth pace was the most rapid in 2014 when imports increased by 419% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, glass fibre fabrics imports fell to $X in 2022. In general, imports enjoyed resilient growth. The pace of growth was the most pronounced in 2014 when imports increased by 402% against the previous year. Over the period under review, imports hit record highs 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 fabrics supplier to Bangladesh, with a 80% share of total imports. Moreover, glass fibre fabrics imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. South Korea (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.5% per year) and South Korea (+17.7% per year).

In value terms, the largest glass fibre fabrics suppliers to Bangladesh were China ($X), South Korea ($X) and Japan ($X), with a combined 77% share of total imports. Italy, Thailand, Russia and India lagged somewhat behind, together comprising a further 14%.

In terms of the main suppliers, Thailand, with a CAGR of +51.0%, recorded 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 average glass fibre fabrics import price stood at $X per ton in 2022, declining by -24.3% against the previous year. In general, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 an increase of 56% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then declined significantly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+35.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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