Colombia: Glass Fiber Market 2024

Glass Fiber Market Size in Colombia

The Colombian glass fiber market rose remarkably to $X in 2021, with an increase of 12% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Glass Fiber Production in Colombia

In value terms, glass fiber production surged to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Glass Fiber Exports

Exports from Colombia

Glass fiber exports from Colombia skyrocketed to X tons in 2021, rising by 40% compared with 2020. In general, exports, however, saw a mild reduction. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass fiber exports soared to $X in 2021. Overall, exports, however, continue to indicate a mild decline. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Mexico (X tons) and Peru (X tons) were the main destinations of glass fiber exports from Colombia, with a combined 69% 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 Mexico (with a CAGR of +27.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for voiles, webs, mats and other articles of glass fibers exports from Colombia, comprising 36% of total exports. The second position in the ranking was taken by Peru ($X), with a 16% share of total exports. It was followed by Mexico, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+7.4% per year) and Mexico (+13.5% per year).

Export Prices by Country

In 2021, the average glass fiber export price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 13%. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Mexico ($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 Argentina (+56.7%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fiber Imports

Imports into Colombia

In 2021, overseas purchases of voiles, webs, mats and other articles of glass fibers decreased by -25.7% to X tons, falling for the second year in a row after two years of growth. In general, imports saw a abrupt downturn. The pace of growth appeared the most rapid in 2018 with an increase of 18% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, glass fiber imports surged to $X in 2021. Overall, imports recorded a slight contraction. The pace of growth was the most pronounced in 2013 when imports increased by 28% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest glass fiber supplier to Colombia, accounting for a 56% share of total imports. Moreover, glass fiber imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fourfold. The United States (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-5.5% per year) and the United States (-9.9% per year).

In value terms, the largest glass fiber suppliers to Colombia were China ($X), the United States ($X) and Mexico ($X), together comprising 76% of total imports. Brazil, Germany, Egypt, Taiwan (Chinese), the Czech Republic and Hong Kong SAR lagged somewhat behind, together accounting for a further 11%.

Among the main suppliers, Egypt, with a CAGR of +112.8%, recorded the highest growth rate of 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 fiber import price stood at $X per ton in 2021, jumping by 61% against the previous year. Over the last nine-year period, it increased at an average annual rate of +5.3%. 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 the United States ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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