Belgium: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in Belgium

The Belgian glass fibre chopped strand market surged to $X in 2021, growing by 17% against the previous year. In general, consumption, however, saw a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Glass Fibre Chopped Strands in Belgium

In value terms, glass fibre chopped strand production expanded to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a mild setback. The most prominent rate of growth was recorded in 2013 when the production volume increased by 26%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Exports of Glass Fibre Chopped Strands

Exports from Belgium

In 2021, shipments abroad of glass fibre chopped strands increased by 21% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +3.7% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre chopped strand exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for glass fibre chopped strand exports from Belgium, with a 65% share of total exports. Moreover, glass fibre chopped strand exports to Germany exceeded the volume sent to the second major destination, the Netherlands (X tons), sixfold. The third position in this ranking was taken by Italy (X tons), with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+0.1% per year) and Italy (+10.9% per year).

In value terms, Germany ($X) remains the key foreign market for glass fibre chopped strands exports from Belgium, comprising 63% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 12% share of total exports. It was followed by Italy, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-0.3% per year) and Italy (+10.5% per year).

Export Prices by Country

The average glass fibre chopped strand export price stood at $X per ton in 2021, with an increase of 9.3% against the previous year. In general, the export price, however, recorded a mild curtailment. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Spain ($X per ton) and France ($X per ton), while the average price for exports to Germany ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibre Chopped Strands

Imports into Belgium

In 2021, imports of glass fibre chopped strands into Belgium soared to X tons, jumping by 81% on the year before. Overall, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 82% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, glass fibre chopped strand imports surged to $X in 2021. In general, imports continue to indicate a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of glass fibre chopped strand to Belgium, accounting for a 67% share of total imports. Moreover, glass fibre chopped strand imports from Malaysia exceeded the figures recorded by the second-largest supplier, Egypt (X tons), fourfold. The third position in this ranking was taken by China (X tons), with a 3.6% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia amounted to +54.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+104.6% per year) and China (-0.8% per year).

In value terms, Malaysia ($X) constituted the largest supplier of glass fibre chopped strands to Belgium, comprising 64% of total imports. The second position in the ranking was held by Egypt ($X), with an 11% share of total imports. It was followed by China, with a 6% share.

From 2012 to 2021, the average annual growth rate of value from Malaysia amounted to +53.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+100.9% per year) and China (+6.4% per year).

Import Prices by Country

In 2021, the average glass fibre chopped strand import price amounted to $X per ton, picking up by 8.5% against the previous year. In general, the import price, however, continues to indicate a perceptible decrease. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 United States ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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