China: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in China

The Chinese glass fibre fabrics market stood at $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Glass fibre fabrics consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Glass Fibre Fabrics Production in China

In value terms, glass fibre fabrics production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2015 when the production volume increased by 9.4%. Glass fibre fabrics production peaked at $X in 2020; afterwards, it flattened through to 2022.

Glass Fibre Fabrics Exports

Exports from China

Glass fibre fabrics exports from China shrank to X tons in 2022, which is down by -8.3% compared with 2021. The total export volume increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 19%. As a result, the exports reached the peak of X tons, and then reduced in the following year.

In value terms, glass fibre fabrics exports contracted notably to $X in 2022. Over the period under review, total exports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +26.7% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 49% against the previous year. As a result, the exports attained the peak of $X, and then fell notably in the following year.

Exports by Country

Malaysia (X tons) was the main destination for glass fibre fabrics exports from China, with a 58% share of total exports. Moreover, glass fibre fabrics exports to Malaysia exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. The third position in this ranking was taken by Japan (X tons), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia totaled +54.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+30.3% per year) and Japan (+22.5% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for glass fibre fabrics exports from China, comprising 63% of total exports. The second position in the ranking was taken by Japan ($X), with a 20% share of total exports. It was followed by Vietnam, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled +60.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+18.7% per year) and Vietnam (+29.9% per year).

Export Prices by Country

In 2022, the average glass fibre fabrics export price amounted to $X per ton, reducing by -8.9% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 25%. As a result, the export price reached the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Vietnam ($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 Turkey (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Fabrics Imports

Imports into China

After two years of growth, supplies from abroad of glass fibre fabrics decreased by -99.1% to X tons in 2022. In general, imports saw a sharp contraction. The growth pace was the most rapid in 2017 with an increase of 101%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, glass fibre fabrics imports dropped rapidly to $X in 2022. Overall, imports saw a dramatic decline. The most prominent rate of growth was recorded in 2017 when imports increased by 57% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Austria (X tons) constituted the largest supplier of glass fibre fabrics to China, accounting for a 38% share of total imports. Moreover, glass fibre fabrics imports from Austria exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume from Austria amounted to -11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-28.3% per year) and Germany (-21.8% per year).

In value terms, the largest glass fibre fabrics suppliers to China were Austria ($X), the United States ($X) and Germany ($X), with a combined 57% share of total imports. Japan, Romania, France, the UK, South Korea, Finland and Italy lagged somewhat behind, together comprising a further 28%.

In terms of the main suppliers, Romania, with a CAGR of +81.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average glass fibre fabrics import price stood at $X per ton in 2022, jumping by 222% against the previous year. In general, the import price recorded a buoyant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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