Ecuador: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Ecuador

In 2022, the Ecuadorian glass fibre and article market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. Glass fibre and article consumption peaked in 2022 and is likely to continue growth in the immediate term.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Ecuador

In 2022, shipments abroad of glass fibres and glass fibre articles was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports showed a strong expansion. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, glass fibre and article exports surged to $X in 2022. In general, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Panama (X tons) was the main destination for glass fibre and article exports from Ecuador, with a X% share of total exports. Moreover, glass fibre and article exports to Panama exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by Costa Rica (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Panama totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Costa Rica (X% per year).

In value terms, the United States ($X), Panama ($X) and Costa Rica ($X) were the largest markets for glass fibre and article exported from Ecuador worldwide, with a combined X% share of total exports.

Panama, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average glass fibre and article export price amounted to $X per ton, declining by X% against the previous year. In general, the export price showed a perceptible curtailment. The growth pace was the most rapid in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then contracted sharply in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Glass Fibres and Glass Fibre Articles

Imports into Ecuador

In 2022, overseas purchases of glass fibres and glass fibre articles increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, glass fibre and article imports skyrocketed to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibre and article supplier to Ecuador, accounting for a X% share of total imports. Moreover, glass fibre and article imports from China exceeded the figures recorded by the second-largest supplier, Colombia (X tons), ninefold. Mexico (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (X% per year) and Mexico (X% per year).

In value terms, China ($X) constituted the largest supplier of glass fibres and glass fibre articles to Ecuador, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Mexico, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Mexico (X% per year).

Import Prices by Country

In 2022, the average glass fibre and article import price amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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