China: Safety Glass Market 2024

Safety Glass Market Size in China

In 2022, the Chinese safety glass market decreased by -56.4% to $X, falling for the second year in a row after three years of growth. In general, consumption saw a abrupt curtailment. Safety glass consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Safety Glass Production in China

In value terms, safety glass production totaled $X in 2022 estimated in export price. In general, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.2% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 15% against the previous year. Safety glass production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Safety Glass Exports

Exports from China

In 2022, approx. X square meters of safety glass were exported from China; jumping by 76% on 2021. Over the period under review, exports showed a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 191% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, safety glass exports expanded slightly to $X in 2022. Overall, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 27% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Vietnam (X square meters) was the main destination for safety glass exports from China, accounting for a 38% share of total exports. Moreover, safety glass exports to Vietnam exceeded the volume sent to the second major destination, South Korea (X square meters), twofold. Thailand (X square meters) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam amounted to +85.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+20.8% per year) and Thailand (+45.8% per year).

In value terms, the largest markets for safety glass exported from China were the United States ($X), Vietnam ($X) and South Korea ($X), together accounting for 32% of total exports.

In terms of the main countries of destination, Vietnam, with a CAGR of +56.9%, saw 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

The average safety glass export price stood at $X per square meter in 2021, increasing by 21% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average export price increased by 133% against the previous year. As a result, the export price reached the peak level of $X per square meter. From 2017 to 2021, 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 Germany ($X per square meter), while the average price for exports to Malaysia ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Safety Glass Imports

Imports into China

In 2022, after three years of growth, there was significant decline in overseas purchases of safety glass, when their volume decreased by -48.4% to X square meters. Overall, imports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 313%. As a result, imports attained the peak of X square meters, and then dropped dramatically in the following year.

In value terms, safety glass imports reduced dramatically to $X in 2022. Over the period under review, imports saw a pronounced setback. The pace of growth appeared the most rapid in 2021 with an increase of 77% against the previous year. As a result, imports attained the peak of $X, and then contracted notably in the following year.

Imports by Country

Vietnam (X square meters), Taiwan (Chinese) (X square meters) and Italy (X square meters) were the main suppliers of safety glass imports to China, together comprising 23% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +237.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Vietnam ($X) and the United States ($X) appeared to be the largest safety glass suppliers to China, together comprising 50% of total imports.

In terms of the main suppliers, Vietnam, with a CAGR of +300.8%, 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

In 2021, the average safety glass import price amounted to $X per square meter, declining by -57.2% against the previous year. Over the period under review, the import price recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2017 an increase of 158% against the previous year. The import price peaked at $X per square meter in 2012; however, from 2013 to 2021, 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 Japan ($X per square meter), while the price for Turkey ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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