China: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in China

The Chinese glass fibre mat market declined to $X in 2022, standing approx. at the previous year. Overall, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by +0.2% against 2020 indices. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Glass Fibre Mat Production in China

In value terms, glass fibre mat production dropped slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.8% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 61% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Glass Fibre Mat Exports

Exports from China

In 2022, the amount of glass fibre mats exported from China shrank to X tons, which is down by -6.6% on 2021 figures. In general, exports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 57%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, glass fibre mat exports fell to $X in 2022. Over the period under review, exports, however, showed a prominent increase. The pace of growth was the most pronounced in 2014 when exports increased by 34% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

India (X tons), the United States (X tons) and Spain (X tons) were the main destinations of glass fibre mat exports from China, with a combined 43% share of total exports. Mexico, Germany, Turkey, Vietnam, the United Arab Emirates, Indonesia, Pakistan, Brazil, Canada and Thailand lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +50.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), the United States ($X) and Spain ($X) were the largest markets for glass fibre mat exported from China worldwide, with a combined 42% share of total exports. Mexico, Germany, Turkey, Indonesia, Pakistan, Canada, Vietnam, the United Arab Emirates, Brazil and Thailand lagged somewhat behind, together accounting for a further 32%.

In terms of the main countries of destination, Canada, with a CAGR of +55.4%, recorded the highest rates of growth with regard to 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 2022, the average glass fibre mat export price amounted to $X per ton, shrinking by -4.1% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 24%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the United Arab Emirates ($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 Canada (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Mat Imports

Imports into China

In 2022, approx. X tons of glass fibre mats were imported into China; shrinking by -15.1% on the previous year's figure. In general, imports showed a noticeable slump. The pace of growth appeared the most rapid in 2017 with an increase of 113% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, glass fibre mat imports declined to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 172% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Belgium (X tons), the United States (X tons) and Australia (X tons) were the main suppliers of glass fibre mat imports to China, with a combined 75% share of total imports. Germany, India, Italy and Switzerland lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +54.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of glass fibre mats to China, comprising 52% of total imports. The second position in the ranking was taken by Belgium ($X), with a 13% share of total imports. It was followed by Germany, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+2.2% per year) and Germany (+2.6% per year).

Import Prices by Country

In 2022, the average glass fibre mat import price amounted to $X per ton, with an increase of 1.6% against the previous year. In general, the import price continues to indicate a tangible increase. The most prominent rate of growth was recorded in 2020 an increase of 63% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+23.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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