Costa Rica: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Costa Rica

The Costa Rican glass fibres and wool market totaled $X in 2022, increasing by 5.4% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Glass Fibres And Glass Wool in Costa Rica

In value terms, glass fibres and wool production reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by 38%. Glass fibres and wool production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Glass Fibres And Glass Wool

Exports from Costa Rica

In 2022, after five years of growth, there was significant decline in shipments abroad of glass fibres and glass wool, when their volume decreased by -52.5% to X tons. Overall, exports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 when exports increased by 386%. As a result, the exports reached the peak of X tons, and then dropped dramatically in the following year.

In value terms, glass fibres and wool exports plummeted to $X in 2022. In general, exports continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2021 with an increase of 649%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for glass fibres and wool exports from Costa Rica, accounting for a 62% share of total exports. Moreover, glass fibres and wool exports to the United States exceeded the volume sent to the second major destination, Panama (X tons), fourfold. Chile (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled -8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+19.8% per year) and Chile (+104.8% per year).

In value terms, the United States ($X) remains the key foreign market for glass fibres and glass wool exports from Costa Rica, comprising 82% of total exports. The second position in the ranking was held by Panama ($X), with an 8.9% share of total exports. It was followed by Nicaragua, with a 2.8% share.

From 2012 to 2022, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+27.2% per year) and Nicaragua (+64.0% per year).

Export Prices by Country

In 2022, the average glass fibres and wool export price amounted to $X per ton, surging by 19% against the previous year. Overall, the export price posted temperate growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 143% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Chile ($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 Chile (+37.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Costa Rica

After three years of growth, overseas purchases of glass fibres and glass wool decreased by -10.2% to X tons in 2022. Overall, imports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 59% against the previous year. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, glass fibres and wool imports reduced to $X in 2022. Over the period under review, imports, however, saw a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of 47% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

China (X tons), the United States (X tons) and Mexico (X tons) were the main suppliers of glass fibres and wool imports to Costa Rica, with a combined 95% share of total imports. Taiwan (Chinese) and Colombia lagged somewhat behind, together accounting for a further 4.3%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +28.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Mexico ($X) and China ($X) were the largest glass fibres and wool suppliers to Costa Rica, with a combined 85% share of total imports. Taiwan (Chinese) and Colombia lagged somewhat behind, together comprising a further 5.1%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +26.7%, 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

The average glass fibres and wool import price stood at $X per ton in 2022, reducing by -3.9% against the previous year. In general, the import price saw a mild descent. The growth pace was the most rapid in 2017 when the average import price increased by 69% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform