Ecuador: Flat Glass Market 2024

Flat Glass Market Size in Ecuador

The Ecuadorian flat glass market surged to $X in 2021, growing by 82% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Flat Glass Exports

Exports from Ecuador

In 2021, the amount of flat glass exported from Ecuador stood at X tons, surging by 6% against 2020. In general, exports, however, saw a deep contraction. The growth pace was the most rapid in 2018 with an increase of 215% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, flat glass exports stood at $X in 2021. Over the period under review, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2018 with an increase of 174%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Colombia (X tons) was the main destination for flat glass exports from Ecuador, accounting for a 96% share of total exports. Moreover, flat glass exports to Colombia exceeded the volume sent to the second major destination, Costa Rica (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Colombia stood at -8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+59.8% per year) and Venezuela (-32.6% per year).

In value terms, Colombia ($X) remains the key foreign market for flat glass exports from Ecuador, comprising 97% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 1.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Colombia amounted to -3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+50.0% per year) and Venezuela (-33.4% per year).

Export Prices by Country

In 2021, the average flat glass export price amounted to $X per ton, reducing by -2.9% against the previous year. Over the period under review, the export price, however, showed a temperate increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 117%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+39.0%), while the prices for the other major destinations experienced mixed trend patterns.

Flat Glass Imports

Imports into Ecuador

After two years of decline, purchases abroad of flat glass increased by 56% to X tons in 2021. Over the period under review, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, flat glass imports soared to $X in 2021. In general, imports showed a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of flat glass to Ecuador, with a 44% share of total imports. Moreover, flat glass imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. Colombia (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+66.2% per year) and Colombia (+17.9% per year).

In value terms, China ($X) constituted the largest supplier of flat glass to Ecuador, comprising 43% of total imports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total imports. It was followed by Colombia, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+73.8% per year) and Colombia (+19.2% per year).

Import Prices by Country

The average flat glass import price stood at $X per ton in 2021, with an increase of 51% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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