Eastern Europe: Glass Fiber Market 2024

Glass Fiber Market Size in Eastern Europe

The East European glass fiber market rose sharply to $X in 2021, growing by 10% against the previous year. Over the period under review, consumption, however, recorded a noticeable decline. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Glass Fiber Production in Eastern Europe

In value terms, glass fiber production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, saw a pronounced slump. The pace of growth appeared the most rapid in 2016 when the production volume increased by 6.5% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Glass Fiber Exports

Exports in Eastern Europe

In 2021, shipments abroad of voiles, webs, mats and other articles of glass fibers was finally on the rise to reach X tons after two years of decline. Total exports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 21%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, glass fiber exports skyrocketed to $X in 2021. Total exports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.7% 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 +12.5% against 2018 indices. The growth pace was the most rapid in 2017 when exports increased by 20% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

The Czech Republic (X tons) and Russia (X tons) represented roughly 62% of total exports in 2021. Poland (X tons) held a 20% share (based on physical terms) of total exports, which put it in second place, followed by Romania (4.5%). Lithuania (X tons), Latvia (X tons) and Slovakia (X tons) took a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +6.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fiber supplying countries in Eastern Europe were the Czech Republic ($X), Poland ($X) and Russia ($X), with a combined 75% share of total exports.

Among the main exporting countries, Poland, with a CAGR of +7.9%, saw the highest rates of growth with regard to 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

In 2021, the export price in Eastern Europe amounted to $X per ton, picking up by 11% against the previous year. In general, the export price showed a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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 Latvia ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Latvia (+3.4%), while the other leaders experienced more modest paces of growth.

Glass Fiber Imports

Imports in Eastern Europe

In 2021, purchases abroad of voiles, webs, mats and other articles of glass fibers was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 16%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, glass fiber imports soared to $X in 2021. Total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland was the main importing country with an import of about X tons, which recorded 27% of total imports. The Czech Republic (X tons) ranks second in terms of the total imports with a 12% share, followed by Ukraine (10%), Russia (9.4%), Hungary (9%), Slovakia (7.2%), Romania (6.2%) and Lithuania (6.1%).

Imports into Poland increased at an average annual rate of +7.3% from 2012 to 2021. At the same time, Lithuania (+11.6%), Slovakia (+11.3%), Hungary (+7.8%), Romania (+3.1%) and the Czech Republic (+1.7%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +11.6% from 2012-2021. Ukraine experienced a relatively flat trend pattern. By contrast, Russia (-4.8%) illustrated a downward trend over the same period. While the share of Poland (+7.9 p.p.), Slovakia (+3.5 p.p.), Lithuania (+3.1 p.p.) and Hungary (+2.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the Czech Republic (-1.9 p.p.), Ukraine (-4.5 p.p.) and Russia (-10.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X), Russia ($X) and the Czech Republic ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 56% of total imports. Hungary, Slovakia, Romania, Ukraine and Lithuania lagged somewhat behind, together comprising a further 33%.

Lithuania, with a CAGR of +11.1%, saw the highest growth rate of the value of imports, in terms of 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

The import price in Eastern Europe stood at $X per ton in 2021, growing by 11% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :