Brazil: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Brazil

In 2022, the Brazilian glass fibres and wool market increased by 1.5% to $X, rising for the second year in a row after two years of decline. In general, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +63.2% against 2020 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the near future.

Exports of Glass Fibres And Glass Wool

Exports from Brazil

In 2022, approx. X tons of glass fibres and glass wool were exported from Brazil; shrinking by -29% compared with 2021. In general, exports showed a noticeable curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 81%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, glass fibres and wool exports shrank to $X in 2022. Overall, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 38% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Peru (X tons), Mexico (X tons) and Argentina (X tons) were the main destinations of glass fibres and wool exports from Brazil, together comprising 50% of total exports. China, Paraguay, Chile, Colombia, Uruguay, the United States, the Dominican Republic, Bolivia, India and Ecuador lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of +56.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), the United States ($X) and China ($X) were the largest markets for glass fibres and wool exported from Brazil worldwide, with a combined 40% share of total exports. Mexico, Argentina, Peru, India, Paraguay, Bolivia, Colombia, Uruguay, the Dominican Republic and Ecuador lagged somewhat behind, together comprising a further 45%.

The Dominican Republic, with a CAGR of +61.7%, saw 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, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average glass fibres and wool export price stood at $X per ton in 2022, growing by 25% against the previous year. Over the period under review, the export price, however, saw a slight slump. The most prominent rate of growth was recorded in 2018 when the average export price increased by 42% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Brazil

In 2022, the amount of glass fibres and glass wool imported into Brazil shrank to X tons, falling by -9.2% on 2021. Overall, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 58%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, glass fibres and wool imports rose slightly to $X in 2022. In general, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 62% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibres and wool supplier to Brazil, accounting for a 57% share of total imports. Moreover, glass fibres and wool imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. The third position in this ranking was taken by Morocco (X tons), with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+0.9% per year) and Morocco (+75.6% per year).

In value terms, China ($X) constituted the largest supplier of glass fibres and glass wool to Brazil, comprising 30% of total imports. The second position in the ranking was taken by the United States ($X), with a 15% share of total imports. It was followed by India, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.3% per year) and India (+7.7% per year).

Import Prices by Country

In 2022, the average glass fibres and wool import price amounted to $X per ton, with an increase of 14% against the previous year. Overall, the import price, however, saw a slight downturn. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Belgium ($X per ton), while the price for Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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