Estonia: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in Estonia

After two years of growth, the Estonian glass fibre fabrics market decreased by -8.8% to $X in 2022. Over the period under review, consumption, however, enjoyed a resilient expansion. Over the period under review, the market reached the peak level at $X in 2021, and then fell in the following year.

Glass Fibre Fabrics Exports

Exports from Estonia

In 2022, glass fibre fabrics exports from Estonia rose markedly to X tons, picking up by 6.8% on 2021. Over the period under review, exports, however, continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2017 when exports increased by 114%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, glass fibre fabrics exports dropped slightly to $X in 2022. Overall, exports, however, recorded a perceptible slump. The pace of growth was the most pronounced in 2017 when exports increased by 102% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Finland (X tons), Latvia (X tons) and Lithuania (X tons) were the main destinations of glass fibre fabrics exports from Estonia, together accounting for 92% of total exports. Denmark and Russia lagged somewhat behind, together comprising a further 7.2%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +55.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Finland ($X), Lithuania ($X) and Latvia ($X) constituted the largest markets for glass fibre fabrics exported from Estonia worldwide, with a combined 81% share of total exports. Russia and Denmark lagged somewhat behind, together accounting for a further 18%.

In terms of the main countries of destination, Denmark, with a CAGR of +51.1%, recorded the highest growth rate of 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

The average glass fibre fabrics export price stood at $X per ton in 2022, waning by -9.9% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 47%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 Russia ($X per ton), while the average price for exports to Latvia ($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 Russia (+7.6%), while the prices for the other major destinations experienced mixed trend patterns.

Glass Fibre Fabrics Imports

Imports into Estonia

In 2022, purchases abroad of glass fibre fabrics decreased by -8.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, total imports indicated a prominent increase from 2012 to 2022: its volume 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, imports decreased by -3.9% against 2018 indices. The growth pace was the most rapid in 2018 when imports increased by 44% against the previous year. Imports peaked at X tons in 2021, and then shrank in the following year.

In value terms, glass fibre fabrics imports fell to $X in 2022. In general, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +83.0% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 62%. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

Egypt (X tons), China (X tons) and Lithuania (X tons) were the main suppliers of glass fibre fabrics imports to Estonia, together comprising 54% of total imports. Poland, Latvia, North Macedonia, Hungary, Turkey, South Africa and Germany lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +29.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibre fabrics suppliers to Estonia were Lithuania ($X), Egypt ($X) and China ($X), together comprising 39% of total imports. Poland, Latvia, North Macedonia, Germany, Turkey, Hungary and South Africa lagged somewhat behind, together comprising a further 41%.

Among the main suppliers, North Macedonia, with a CAGR of +33.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glass fibre fabrics import price stood at $X per ton in 2022, with an increase of 3.5% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 55% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 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 Germany ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by North Macedonia (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform