Ecuador: Worked Flat Glass Market 2024

Worked Flat Glass Market Size in Ecuador

In 2021, the Ecuadorian worked flat glass market increased by 41% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, showed a pronounced contraction. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Worked Flat Glass Exports

Exports from Ecuador

Worked flat glass exports from Ecuador contracted sharply to X kg in 2021, declining by -84.2% against the previous year. In general, exports continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2016 when exports increased by 1,386% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, worked flat glass exports reduced notably to $X in 2021. Over the period under review, exports showed a dramatic downturn. The growth pace was the most rapid in 2016 with an increase of 904%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Bahamas (X kg) was the main destination for worked flat glass exports from Ecuador, accounting for a 52% share of total exports. Moreover, worked flat glass exports to Bahamas exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), twofold. The United States (X kg) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Bahamas stood at +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-15.2% per year) and the United States (-35.2% per year).

In value terms, Bahamas ($X), the United Arab Emirates ($X) and the United States ($X) constituted the largest markets for worked flat glass exported from Ecuador worldwide, with a combined 85% share of total exports. These countries were followed by Germany, the Dominican Republic, Panama and Venezuela, which together accounted for a further 8.8%.

In terms of the main countries of destination, Germany, with a CAGR of +12.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average worked flat glass export price stood at $X per ton in 2021, increasing by 15% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 24%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to the Dominican Republic ($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 Slovakia (+19.7%), while the prices for the other major destinations experienced more modest paces of growth.

Worked Flat Glass Imports

Imports into Ecuador

In 2021, overseas purchases of worked flat glass increased by 32% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, recorded a deep downturn. The growth pace was the most rapid in 2017 with an increase of 90%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, worked flat glass imports skyrocketed to $X in 2021. Over the period under review, imports enjoyed a pronounced expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 132%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of worked flat glass to Ecuador, accounting for a 80% share of total imports. Moreover, worked flat glass imports from China exceeded the figures recorded by the second-largest supplier, Bulgaria (X tons), fivefold. Mexico (X tons) ranked third in terms of total imports with a 3% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (0.0% per year) and Mexico (+6.4% per year).

In value terms, China ($X) constituted the largest supplier of worked flat glass to Ecuador, comprising 84% of total imports. The second position in the ranking was taken by Bulgaria ($X), with a 9.4% share of total imports. It was followed by Mexico, with a 2.9% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (0.0% per year) and Mexico (+14.2% per year).

Import Prices by Country

The average worked flat glass import price stood at $X per ton in 2021, with an increase of 12% against the previous year. Overall, the import price saw a prominent increase. The pace of growth was the most pronounced in 2018 an increase of 26%. The import price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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