Eastern Asia: Safety Glass Market 2024

Safety Glass Market Size in Eastern Asia

In 2022, the East Asian safety glass market decreased by -41.9% to $X, falling for the second consecutive year after three years of growth. In general, consumption saw a abrupt decrease. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Safety Glass Production in Eastern Asia

In value terms, safety glass production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when the production volume increased by 12% against the previous year. Over the period under review, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Safety Glass Exports

Exports in Eastern Asia

For the fourth consecutive year, Eastern Asia recorded growth in shipments abroad of safety glass, which increased by 73% to X square meters in 2022. Overall, exports posted prominent growth. The growth pace was the most rapid in 2017 when exports increased by 181% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, safety glass exports stood at $X in 2022. Total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +56.6% against 2017 indices. The growth pace was the most rapid in 2021 when exports increased by 23% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of safety glass, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the safety glass exports, with a CAGR of +14.3% from 2012 to 2022. China (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, safety glass exports increased at an average annual rate of +8.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per square meter, waning by -41.7% against the previous year. Overall, the export price saw a deep contraction. The growth pace was the most rapid in 2016 when the export price increased by 126%. As a result, the export price reached the peak level of $X per square meter. From 2017 to 2022, 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 2022, the rate of growth in terms of prices for China amounted to -5.0% per year.

Safety Glass Imports

Imports in Eastern Asia

In 2022, the amount of safety glass imported in Eastern Asia dropped notably to X square meters, waning by -15.2% compared with the previous year's figure. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 18% against the previous year. As a result, imports attained the peak of X square meters. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, safety glass imports fell notably to $X in 2022. Overall, imports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2014 when imports increased by 9.3% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, South Korea (X square meters) was the largest importer of safety glass, committing 58% of total imports. It was distantly followed by Taiwan (Chinese) (X square meters), China (X square meters), Japan (X square meters) and Hong Kong SAR (X square meters), together generating a 41% share of total imports.

Imports into South Korea increased at an average annual rate of +12.8% from 2012 to 2022. At the same time, China (+15.9%) and Taiwan (Chinese) (+11.1%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +15.9% from 2012-2022. By contrast, Japan (-9.9%) and Hong Kong SAR (-19.5%) illustrated a downward trend over the same period. South Korea (+42 p.p.), Taiwan (Chinese) (+9.1 p.p.) and China (+8.5 p.p.) significantly strengthened its position in terms of the total imports, while Japan and Hong Kong SAR saw its share reduced by -16.9% and -43.7% from 2012 to 2022, respectively.

In value terms, South Korea ($X) constitutes the largest market for imported safety glass in Eastern Asia, comprising 41% of total imports. The second position in the ranking was taken by Japan ($X), with a 20% share of total imports. It was followed by China, with a 19% share.

In South Korea, safety glass imports expanded at an average annual rate of +8.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-6.2% per year) and China (-2.0% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per square meter in 2022, declining by -5.4% against the previous year. In general, the import price recorded a perceptible setback. The pace of growth appeared the most rapid in 2015 an increase of 28%. As a result, import price attained the peak level of $X per square meter. From 2016 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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