Eastern Asia: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in Eastern Asia

The East Asian glass fibre fabrics market totaled $X in 2022, picking up by 3.6% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.2% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Glass Fibre Fabrics Production in Eastern Asia

In value terms, glass fibre fabrics production totaled $X in 2022 estimated in export price. Overall, production, however, saw resilient growth. The pace of growth appeared the most rapid in 2019 with an increase of 30% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Glass Fibre Fabrics Exports

Exports in Eastern Asia

Glass fibre fabrics exports reduced to X tons in 2022, shrinking by -9.2% compared with the previous year. The total export volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 24%. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, glass fibre fabrics exports shrank to $X in 2022. The total export value increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 30% against the previous year. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

China prevails in exports structure, resulting at X tons, which was approx. 81% of total exports in 2022. Taiwan (Chinese) (X tons) took a 9.2% share (based on physical terms) of total exports, which put it in second place, followed by Hong Kong SAR (6.4%). The following exporters - Japan (X tons) and South Korea (X tons) - each recorded a 3.3% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to glass fibre fabrics exports from China stood at +2.6%. At the same time, Hong Kong SAR (+3.2%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +3.2% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Japan (-1.1%) and South Korea (-2.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +4.8 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest glass fibre fabrics supplier in Eastern Asia, comprising 49% of total exports. The second position in the ranking was held by Japan ($X), with a 21% share of total exports. It was followed by Hong Kong SAR, with a 14% share.

In China, glass fibre fabrics exports increased at an average annual rate of +2.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+5.8% per year) and Hong Kong SAR (+4.9% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, reducing by -2.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2020 an increase of 7.1% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Japan (+6.9%), while the other leaders experienced more modest paces of growth.

Glass Fibre Fabrics Imports

Imports in Eastern Asia

In 2022, the amount of glass fibre fabrics imported in Eastern Asia reduced remarkably to X tons, which is down by -40.7% against the previous year's figure. Overall, imports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2017 with an increase of 41%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, glass fibre fabrics imports reduced notably to $X in 2022. Over the period under review, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 24% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons) and South Korea (X tons) represented roughly 76% of total imports in 2022. Hong Kong SAR (X tons) held the next position in the ranking, followed by Taiwan (Chinese) (X tons) and Macao SAR (X tons). All these countries together held near 23% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Macao SAR (with a CAGR of +24.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and Hong Kong SAR ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 92% of total imports. Taiwan (Chinese) and Macao SAR lagged somewhat behind, together accounting for a further 6.3%.

Macao SAR, with a CAGR of +11.7%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, waning by -5.9% against the previous year. Import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the import price increased by 19% against the previous year. The level of import peaked at $X per ton in 2021, and then reduced in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :