Finland: Glass Fiber Market 2024

Glass Fiber Market Size in Finland

The Finnish glass fiber market reduced to $X in 2021, which is down by -7.8% against the previous year. Overall, consumption recorded a abrupt descent. Glass fiber consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Glass Fiber Production in Finland

In value terms, glass fiber production dropped remarkably to $X in 2021 estimated in export price. Overall, production, however, faced a dramatic curtailment. The pace of growth was the most pronounced in 2018 when the production volume decreased by -0.3%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Glass Fiber Exports

Exports from Finland

In 2021, overseas shipments of voiles, webs, mats and other articles of glass fibers increased by 84% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass fiber exports soared to $X in 2021. In general, exports, however, recorded a pronounced downturn. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Denmark (X tons), Estonia (X tons) and Lithuania (X tons) were the main destinations of glass fiber exports from Finland, with a combined 59% share of total exports. Latvia, Sweden, the UK, Germany, France, Poland, the United States and Russia lagged somewhat behind, together comprising a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sweden (with a CAGR of +27.5%), while the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X), Estonia ($X) and Sweden ($X) were the largest markets for glass fiber exported from Finland worldwide, with a combined 55% share of total exports.

Sweden, with a CAGR of +29.3%, recorded 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

The average glass fiber export price stood at $X per ton in 2021, picking up by 16% against the previous year. Overall, the export price, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2015 an increase of 33% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Germany ($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 Poland (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fiber Imports

Imports into Finland

Glass fiber imports into Finland surged to X tons in 2021, growing by 17% on 2020 figures. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 23% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, glass fiber imports skyrocketed to $X in 2021. Overall, imports saw a modest expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Russia (X tons) and Sweden (X tons) were the main suppliers of glass fiber imports to Finland, together comprising 72% of total imports. Denmark, Italy, Egypt, the UK, Belgium, China and the Czech Republic lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Egypt (with a CAGR of +225.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of voiles, webs, mats and other articles of glass fibers to Finland, comprising 43% of total imports. The second position in the ranking was held by Sweden ($X), with an 18% share of total imports. It was followed by Denmark, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-2.1% per year) and Denmark (-3.5% per year).

Import Prices by Country

The average glass fiber import price stood at $X per ton in 2021, increasing by 5.4% against the previous year. In general, the import price, however, continues to indicate a slight descent. The pace of growth was the most pronounced in 2017 an increase of 5.5% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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