China: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in China

The Chinese glass fibre chopped strand market dropped modestly to $X in 2021, with a decrease of -2.6% against the previous year. The market value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Glass Fibre Chopped Strands in China

In value terms, glass fibre chopped strand production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.4% 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 2018 when the production volume increased by 17% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Exports of Glass Fibre Chopped Strands

Exports from China

After two years of decline, overseas shipments of glass fibre chopped strands increased by 54% to X tons in 2021. In general, exports enjoyed a remarkable increase. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, glass fibre chopped strand exports surged to $X in 2021. Over the period under review, exports enjoyed a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X tons), Japan (X tons) and the United States (X tons) were the main destinations of glass fibre chopped strand exports from China, together comprising 43% of total exports. India, Russia, Germany, Iran, Brazil, Malaysia, Belgium, Saudi Arabia, Thailand and the Netherlands lagged somewhat behind, together comprising a further 40%.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +68.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), the United States ($X) and Japan ($X) were the largest markets for glass fibre chopped strand exported from China worldwide, with a combined 42% share of total exports. These countries were followed by India, Germany, Belgium, Russia, Brazil, Malaysia, Iran, Thailand, the Netherlands and Saudi Arabia, which together accounted for a further 40%.

In terms of the main countries of destination, Russia, with a CAGR of +73.6%, saw the highest growth rate of the value of exports, 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 chopped strand export price amounted to $X per ton, with an increase of 26% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Iran ($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 Belgium (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibre Chopped Strands

Imports into China

In 2021, supplies from abroad of glass fibre chopped strands increased by 3.3% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 17% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, glass fibre chopped strand imports expanded significantly to $X in 2021. The total import value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 14% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest glass fibre chopped strand supplier to China, with a 62% share of total imports. Moreover, glass fibre chopped strand imports from Malaysia exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia totaled +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.1% per year) and the United States (+13.9% per year).

In value terms, the largest glass fibre chopped strand suppliers to China were Malaysia ($X), Japan ($X) and the United States ($X), together comprising 86% of total imports.

In terms of the main suppliers, the United States, with a CAGR of +23.0%, saw 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 chopped strand import price stood at $X per ton in 2021, picking up by 7.3% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 13%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+8.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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