Eastern Asia: Glass Fiber Market 2024

Glass Fiber Market Size in Eastern Asia

In 2021, the East Asian glass fiber market increased by 0.8% to $X for the first time since 2016, thus ending a four-year declining trend. Over the period under review, consumption, however, showed a noticeable setback. The most prominent rate of growth was recorded in 2016 when the market value increased by 9.9% against the previous year. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Glass Fiber Production in Eastern Asia

In value terms, glass fiber production expanded modestly to $X in 2021 estimated in export price. Overall, production, however, recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 when the production volume increased by 8.4%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Glass Fiber Exports

Exports in Eastern Asia

In 2021, approx. X tons of voiles, webs, mats and other articles of glass fibers were exported in Eastern Asia; with an increase of 15% against 2020. The total export volume increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by 29%. The volume of export peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, glass fiber exports surged to $X in 2021. The total export value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, recording X tons, which was approx. 89% of total exports in 2021. It was distantly followed by South Korea (X tons), mixing up a 4.6% share of total exports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the voiles, webs, mats and other articles of glass fibers exports, with a CAGR of +4.6% from 2012 to 2021. At the same time, South Korea (+2.6%) and Taiwan (Chinese) (+2.4%) displayed positive paces of growth. From 2012 to 2021, the share of China increased by +4 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest glass fiber supplier in Eastern Asia, comprising 85% of total exports. The second position in the ranking was taken by South Korea ($X), with a 4.2% share of total exports.

In China, glass fiber exports increased at an average annual rate of +6.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+0.4% per year) and Taiwan (Chinese) (-8.7% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, growing by 10% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. Over the period under review, the export prices attained the maximum at $X per ton in 2016; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.6%), while the other leaders experienced a decline in the export price figures.

Glass Fiber Imports

Imports in Eastern Asia

Glass fiber imports expanded rapidly to X tons in 2021, increasing by 7.9% on 2020. The total import volume increased at an average annual rate of +5.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 28%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, glass fiber imports totaled $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +45.5% against 2015 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 22% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

The purchases of the three major importers of voiles, webs, mats and other articles of glass fibers, namely South Korea, Japan and China, represented more than two-thirds of total import. It was distantly followed by Taiwan (Chinese) (X tons), mixing up a 6.5% share of total imports. Hong Kong SAR (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +9.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported voiles, webs, mats and other articles of glass fibers in Eastern Asia, comprising 54% of total imports. The second position in the ranking was held by South Korea ($X), with a 21% share of total imports. It was followed by Japan, with a 16% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +7.5%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+10.2% per year) and Japan (+5.0% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, increasing by 6.5% against the previous year. In general, the import price continues to indicate a mild expansion. The most prominent rate of growth was recorded in 2019 when the import price increased by 15% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :