China: Market for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles 2024

Market Size for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in China

In 2021, the Chinese market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles decreased by -6.4% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Production of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in China

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles expanded notably to $X in 2021 estimated in export price. Overall, production recorded a mild expansion. The pace of growth was the most pronounced in 2016 with an increase of 15% against the previous year. Production of peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Exports from China

In 2021, shipments abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles was finally on the rise to reach X tons after two years of decline. In general, total exports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when exports increased by 47%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles soared to $X in 2021. Overall, total exports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached 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 exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from China, with a combined 30% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +25.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glass fibre filament, roving, and staple glass fibre article exported from China were the United States ($X), South Korea ($X) and Japan ($X), with a combined 29% share of total exports. These countries were followed by Russia, India, Thailand, the United Arab Emirates, Germany, Brazil, Turkey, Malaysia, Saudi Arabia and Canada, which together accounted for a further 38%.

Among the main countries of destination, Russia, with a CAGR of +23.7%, recorded 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 export price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X per ton, with an increase of 31% against the previous year. Overall, the export price showed a relatively flat trend pattern. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Malaysia ($X per ton) and Germany ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) and Turkey ($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 Malaysia (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Imports into China

In 2021, approx. X tons of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles were imported into China; declining by -6.5% against 2020. The total import volume increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 35% against the previous year. Over the period under review, imports of hit record highs at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles surged to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Malaysia (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) were the main suppliers of imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to China, with a combined 77% share of total imports. These countries were followed by the United States, Egypt, South Korea and Belgium, which together accounted for a further 16%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +14.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Taiwan (Chinese) ($X) and Malaysia ($X) appeared to be the largest glass fibre filament, roving, and staple glass fibre article suppliers to China, with a combined 79% share of total imports. These countries were followed by the United States, South Korea, Egypt and Belgium, which together accounted for a further 14%.

Among the main suppliers, Belgium, with a CAGR of +12.9%, 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

In 2021, the average import price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X per ton, increasing by 29% against the previous year. In general, the import price, however, continues to indicate a slight decline. The import price peaked at $X per ton 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 ($X per ton), while the price for Egypt ($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 (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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