China: Flat Glass Market 2024

Flat Glass Market Size in China

In 2021, after three years of growth, there was significant decline in the Chinese flat glass market, when its value decreased by -6.7% to $X. Overall, consumption, however, enjoyed a buoyant increase. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Flat Glass Production in China

In value terms, flat glass production dropped to $X in 2021 estimated in export price. In general, production, however, saw strong growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 26% against the previous year. Flat glass production peaked at $X in 2020, and then contracted in the following year.

Flat Glass Exports

Exports from China

In 2021, the amount of flat glass exported from China contracted to X tons, dropping by -13.4% on the previous year's figure. In general, exports showed a perceptible contraction. The pace of growth appeared the most rapid in 2013 with an increase of 17%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, flat glass exports surged to $X in 2021. Overall, total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +13.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +20.1% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 80% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

South Korea (X tons) was the main destination for flat glass exports from China, with a 16% share of total exports. Moreover, flat glass exports to South Korea exceeded the volume sent to the second major destination, Peru (X tons), threefold. The third position in this ranking was held by Hong Kong SAR (X tons), with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea amounted to +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-2.6% per year) and Hong Kong SAR (+55.2% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for flat glass exports from China, comprising 39% of total exports. The second position in the ranking was taken by South Korea ($X), with a 6.4% share of total exports. It was followed by Tanzania, with a 4.6% share.

From 2012 to 2021, the average annual growth rate of value to Hong Kong SAR stood at +83.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+10.6% per year) and Tanzania (+36.0% per year).

Export Prices by Country

In 2021, the average flat glass export price amounted to $X per ton, rising by 34% against the previous year. Overall, the export price recorded a prominent expansion. The pace of growth appeared the most rapid in 2013 an increase of 54% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Djibouti (+20.4%), while the prices for the other major destinations experienced more modest paces of growth.

Flat Glass Imports

Imports into China

In 2021, the amount of flat glass imported into China reached X tons, with an increase of 2.2% compared with 2020 figures. In general, imports recorded a prominent increase. The growth pace was the most rapid in 2019 with an increase of 49%. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, flat glass imports fell to $X in 2021. Over the period under review, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -7.5% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 44% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Malaysia (X tons), South Korea (X tons) and Japan (X tons) were the main suppliers of flat glass imports to China, together comprising 79% of total imports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +90.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of flat glass to China, comprising 51% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 16% 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 South Korea totaled +33.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+4.2% per year) and Japan (-5.9% per year).

Import Prices by Country

In 2021, the average flat glass import price amounted to $X per ton, shrinking by -4.1% against the previous year. In general, the import price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2013 an increase of 40%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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