Colombia: 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 Colombia

The Colombian market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles soared to $X in 2021, jumping by 68% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

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

Exports from Colombia

In 2021, overseas shipments of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased by 24% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, showed a pronounced reduction. The growth pace was the most rapid in 2014 with an increase of 625%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles skyrocketed to $X in 2021. In general, exports, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 645%. Over the period under review, the exports of reached the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Ecuador (X tons) was the main destination for exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from Colombia, with a 50% share of total exports. Moreover, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Ecuador exceeded the volume sent to the second major destination, Peru (X tons), threefold. The third position in this ranking was taken by Guatemala (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ecuador totaled -5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+618.5% per year) and Guatemala (-1.7% per year).

In value terms, Ecuador ($X), Guatemala ($X) and Aruba ($X) appeared to be the largest markets for glass fibre filament, roving, and staple glass fibre article exported from Colombia worldwide, together accounting for 70% of total exports. Peru, Venezuela and the Dominican Republic lagged somewhat behind, together accounting for a further 24%.

Peru, with a CAGR of +401.3%, recorded 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 2021, the average export price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X per ton, falling by -3.4% against the previous year. Overall, the export price continues to indicate a mild slump. The pace of growth was the most pronounced in 2017 an increase of 38%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Aruba ($X per ton), while the average price for exports to Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+3.8%), while the prices for the other major destinations experienced a decline.

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

Imports into Colombia

In 2021, approx. X tons of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles were imported into Colombia; jumping by 39% compared with 2020. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 52% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports of remained 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, total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports of hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest glass fibre filament, roving, and staple glass fibre article supplier to Colombia, accounting for a 54% share of total imports. Moreover, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by Brazil (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+39.4% per year) and Brazil (-2.8% per year).

In value terms, China ($X) constituted the largest supplier of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Colombia, comprising 52% of total imports. The second position in the ranking was held by the United States ($X), with an 18% share of total imports. It was followed by Brazil, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+11.2% per year) and Brazil (-6.5% per year).

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 27% against the previous year. Over the period under review, the import price, however, showed a noticeable curtailment. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Mexico ($X per ton) and the United States ($X per ton), while the price for Egypt ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+19.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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