China: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in China

The Chinese glass fibres and wool market stood at $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Production of Glass Fibres And Glass Wool in China

In value terms, glass fibres and wool production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the production volume increased by 48%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Exports of Glass Fibres And Glass Wool

Exports from China

In 2022, approx. X tons of glass fibres and glass wool were exported from China; reducing by -2.7% on 2021. Overall, exports, however, recorded a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 37% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then reduced modestly in the following year.

In value terms, glass fibres and wool exports dropped to $X in 2022. Over the period under review, exports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2021 when exports increased by 31% against the previous year. As a result, the exports reached the peak of $X, and then contracted modestly in the following year.

Exports by Country

South Korea (X tons), the United States (X tons) and India (X tons) were the main destinations of glass fibres and wool exports from China, together accounting for 29% of total exports. Vietnam, Turkey, Poland, Japan, Thailand, Italy, Mexico, Australia, Germany and Brazil lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +22.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), South Korea ($X) and India ($X) constituted the largest markets for glass fibres and wool exported from China worldwide, with a combined 28% share of total exports. Vietnam, Italy, Turkey, Thailand, Japan, Poland, Australia, Germany, Mexico and Brazil lagged somewhat behind, together comprising a further 38%.

Turkey, with a CAGR of +24.6%, saw the highest rates of growth with regard to the value of exports, among 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 2022, the average glass fibres and wool export price amounted to $X per ton, almost unchanged from the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 15% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Poland ($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 Italy (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into China

In 2022, imports of glass fibres and glass wool into China declined significantly to X tons, shrinking by -18.8% against the previous year. Over the period under review, imports continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 8.8% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, glass fibres and wool imports shrank modestly to $X in 2022. Overall, imports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2019 when imports increased by 32%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

The United States (X tons), Japan (X tons) and Malaysia (X tons) were the main suppliers of glass fibres and wool imports to China, together accounting for 36% of total imports. Germany, Sweden, South Korea, New Zealand and Thailand lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +35.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibres and wool suppliers to China were Japan ($X), the United States ($X) and Sweden ($X), together accounting for 44% of total imports. South Korea, Thailand, Germany, Malaysia and New Zealand lagged somewhat behind, together accounting for a further 22%.

Among the main suppliers, Thailand, with a CAGR of +68.2%, recorded 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 fibres and wool import price stood at $X per ton in 2022, jumping by 20% against the previous year. Overall, the import price continues to indicate resilient growth. The growth pace was the most rapid in 2019 when the average import price increased by 36%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+23.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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