China: Glass Fibre Filament Market 2024

Glass Fibre Filament Market Size in China

For the third consecutive year, the Chinese glass fibre filament market recorded decline in sales value, which decreased by -10.2% to $X in 2021. Overall, the total consumption indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -33.3% against 2016 indices. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Glass Fibre Filament Production in China

In value terms, glass fibre filament production expanded rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 35% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Glass Fibre Filament Exports

Exports from China

In 2021, overseas shipments of glass fibre filaments increased by 36% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by 51% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, glass fibre filament exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), South Korea (X tons) and Russia (X tons) were the main destinations of glass fibre filament exports from China, with a combined 29% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +25.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glass fibre filament exported from China were the United States ($X), South Korea ($X) and Russia ($X), with a combined 28% share of total exports.

Russia, with a CAGR of +25.3%, saw the highest growth rate of 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

In 2021, the average glass fibre filament export price amounted to $X per ton, jumping by 35% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 36%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Australia ($X per ton) and Germany ($X per ton), while the average price for exports to India ($X per ton) and Saudi Arabia ($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 Germany (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Filament Imports

Imports into China

Glass fibre filament imports into China reduced notably to X tons in 2021, shrinking by -49.4% on the previous year. Overall, imports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2014 with an increase of 93% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, glass fibre filament imports dropped notably to $X in 2021. Over the period under review, imports, however, posted a temperate expansion. The most prominent rate of growth was recorded in 2015 with an increase of 162%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Egypt (X tons) constituted the largest supplier of glass fibre filament to China, accounting for a 34% share of total imports. Moreover, glass fibre filament imports from Egypt exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was held by Bahrain (X tons), with a 9.5% share.

From 2012 to 2021, the average annual growth rate of volume from Egypt amounted to +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.1% per year) and Bahrain (+112.9% per year).

In value terms, the largest glass fibre filament suppliers to China were Egypt ($X), the United States ($X) and Germany ($X), together accounting for 43% of total imports. Bahrain, Brazil, Malaysia, Mexico and India lagged somewhat behind, together accounting for a further 21%.

Among the main suppliers, Bahrain, with a CAGR of +160.8%, saw the highest growth rate of 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 filament import price stood at $X per ton in 2021, picking up by 43% against the previous year. In general, the import price, however, saw a pronounced contraction. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+22.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :