Eastern Asia: Worked Flat Glass Market 2024

Worked Flat Glass Market Size in Eastern Asia

In 2021, after five years of growth, there was decline in the East Asian worked flat glass market, when its value decreased by -3.8% to $X. The total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +71.0% against 2013 indices. The level of consumption peaked at $X in 2020, and then reduced slightly in the following year.

Worked Flat Glass Production in Eastern Asia

In value terms, worked flat glass production reduced to $X in 2021 estimated in export price. The total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +70.6% against 2013 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 19%. The level of production peaked at $X in 2020, and then reduced in the following year.

Worked Flat Glass Exports

Exports in Eastern Asia

In 2021, approx. X tons of worked flat glass were exported in Eastern Asia; growing by 5.9% against the previous year's figure. Total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +75.9% against 2013 indices. The growth pace was the most rapid in 2017 when exports increased by 15%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, worked flat glass exports expanded markedly to $X in 2021. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 23%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

In 2021, China (X tons) was the key exporter of worked flat glass, creating 71% of total exports. South Korea (X tons) held the second position in the ranking, followed by Taiwan (Chinese) (X tons). All these countries together took approx. 24% share of total exports. The following exporters - Hong Kong SAR (X tons) and Japan (X tons) - together made up 4.7% of total exports.

Exports from China increased at an average annual rate of +5.4% from 2012 to 2021. At the same time, South Korea (+25.9%), Taiwan (Chinese) (+6.4%) and Hong Kong SAR (+1.9%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +25.9% from 2012-2021. By contrast, Japan (-8.1%) illustrated a downward trend over the same period. While the share of South Korea (+11 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-4.6 p.p.) and Japan (-5.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), South Korea ($X) and Taiwan (Chinese) ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 72% share of total exports.

In terms of the main exporting countries, South Korea, with a CAGR of +16.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, increasing by 6.5% against the previous year. Overall, the export price, however, recorded a deep slump. The growth pace was the most rapid in 2020 when the export price increased by 15%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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 Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+6.2%), while the other leaders experienced a decline in the export price figures.

Worked Flat Glass Imports

Imports in Eastern Asia

In 2021, after three years of growth, there was decline in purchases abroad of worked flat glass, when their volume decreased by -1.2% to X tons. Overall, imports, however, saw buoyant growth. The growth pace was the most rapid in 2020 with an increase of 38%. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, worked flat glass imports soared to $X in 2021. The total import value increased at an average annual rate of +2.0% 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 2020 with an increase of 28%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

China (X tons) and Hong Kong SAR (X tons) were the main importers of worked flat glass in 2021, reaching near 39% and 35% of total imports, respectively. It was distantly followed by Taiwan (Chinese) (X tons), South Korea (X tons) and Japan (X tons), together making up a 25% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +15.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported worked flat glass in Eastern Asia, comprising 42% of total imports. The second position in the ranking was held by Japan ($X), with a 16% share of total imports. It was followed by South Korea, with a 15% share.

In China, worked flat glass imports expanded at an average annual rate of +3.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-2.1% per year) and South Korea (+0.4% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, surging by 21% against the previous year. Over the period under review, the import price, however, recorded a abrupt slump. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+7.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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