Greece: Glass Fibre Filament Market 2024

Glass Fibre Filament Market Size in Greece

For the third consecutive year, the Greek glass fibre filament market recorded growth in sales value, which increased by 29% to $X in 2021. Over the period under review, consumption, however, recorded a prominent increase. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the immediate term.

Glass Fibre Filament Exports

Exports from Greece

In 2021, shipments abroad of glass fibre filaments increased by 200% to X tons, rising for the third year in a row after three years of decline. Overall, exports posted a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 1,458%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, glass fibre filament exports surged to $X in 2021. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 2,176%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Cyprus (X tons) was the main destination for glass fibre filament exports from Greece, accounting for a 80% share of total exports. Moreover, glass fibre filament exports to Cyprus exceeded the volume sent to the second major destination, Albania (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cyprus totaled +95.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (+1.6% per year) and Bulgaria (+37.6% per year).

In value terms, the largest markets for glass fibre filament exported from Greece were Cyprus ($X), Albania ($X) and Bulgaria ($X), together accounting for 100% of total exports.

Cyprus, with a CAGR of +87.6%, recorded the highest growth rate of 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 fibre filament export price stood at $X per ton in 2021, remaining constant against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, glass fibre filament export price increased by +45.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 75% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Albania ($X per ton), while the average price for exports to Cyprus ($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 Albania (+25.0%), while the prices for the other major destinations experienced mixed trend patterns.

Glass Fibre Filament Imports

Imports into Greece

In 2021, glass fibre filament imports into Greece declined to X tons, falling by -7.8% compared with the previous year. Overall, imports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 126%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, glass fibre filament imports surged to $X in 2021. In general, imports, however, showed a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Spain (X tons) constituted the largest glass fibre filament supplier to Greece, with a 52% share of total imports. Moreover, glass fibre filament imports from Spain exceeded the figures recorded by the second-largest supplier, Slovakia (X tons), fivefold. The third position in this ranking was held by Turkey (X tons), with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume from Spain amounted to +27.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+7.9% per year) and Turkey (-3.0% per year).

In value terms, Spain ($X) constituted the largest supplier of glass fibre filaments to Greece, comprising 66% of total imports. The second position in the ranking was taken by India ($X), with a 7.3% share of total imports. It was followed by Slovakia, with a 4.2% share.

From 2012 to 2021, the average annual growth rate of value from Spain amounted to +28.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+250.6% per year) and Slovakia (+6.7% per year).

Import Prices by Country

In 2021, the average glass fibre filament import price amounted to $X per ton, surging by 86% against the previous year. In general, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, glass fibre filament import price increased by +134.3% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+44.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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