Eastern Asia: Glass Fibre Filament Market 2024

Glass Fibre Filament Market Size in Eastern Asia

In 2021, the East Asian glass fibre filament market decreased by -2.4% to $X, falling for the fifth year in a row after two years of growth. The market value 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. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Glass Fibre Filament Production in Eastern Asia

In value terms, glass fibre filament production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 27%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Glass Fibre Filament Exports

Exports in Eastern Asia

In 2021, overseas shipments of glass fibre filaments were finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 48%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, glass fibre filament exports surged to $X in 2021. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from China (X tons), together resulting at 96% of total export.

China was also the fastest-growing in terms of the glass fibre filaments exports, with a CAGR of +2.5% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest glass fibre filament supplier in Eastern Asia.

In China, glass fibre filament exports increased at an average annual rate of +3.1% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, picking up by 32% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 34% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +0.6% per year.

Glass Fibre Filament Imports

Imports in Eastern Asia

Glass fibre filament imports dropped to X tons in 2021, shrinking by -6% against the previous year. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -10.5% against 2015 indices. The pace of growth appeared the most rapid in 2014 with an increase of 29%. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, glass fibre filament imports surged to $X in 2021. Total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.7% 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 2015 when imports increased by 41%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

South Korea represented the key importing country with an import of around X tons, which recorded 54% of total imports. Japan (X tons) ranks second in terms of the total imports with a 24% share, followed by China (18%) and Taiwan (Chinese) (4.5%).

From 2012 to 2021, average annual rates of growth with regard to glass fibre filament imports into South Korea stood at +5.4%. At the same time, Japan (+7.4%), China (+5.1%) and Taiwan (Chinese) (+2.1%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +7.4% from 2012-2021. From 2012 to 2021, the share of Japan increased by +3.5 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported glass fibre filaments in Eastern Asia, comprising 54% of total imports. The second position in the ranking was taken by Japan ($X), with a 25% share of total imports. It was followed by China, with a 15% share.

In South Korea, glass fibre filament imports increased at an average annual rate of +6.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+4.3% per year) and China (+3.0% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, with an increase of 34% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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