Greece: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Greece

In 2022, the Greek glass fibres and wool market increased by 94% to $X, rising for the second consecutive year after two years of decline. In general, consumption recorded a slight increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Glass Fibres And Glass Wool

Exports from Greece

Glass fibres and wool exports from Greece surged to X tons in 2022, growing by 50% against 2021. Over the period under review, exports recorded a buoyant increase. The growth pace was the most rapid in 2013 when exports increased by 239% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, glass fibres and wool exports skyrocketed to $X in 2022. In general, exports continue to indicate prominent growth. The growth pace was the most rapid in 2013 with an increase of 282% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Cyprus (X tons) was the main destination for glass fibres and wool exports from Greece, accounting for a 75% share of total exports. Moreover, glass fibres and wool exports to Cyprus exceeded the volume sent to the second major destination, Bulgaria (X tons), more than tenfold. Saudi Arabia (X tons) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cyprus stood at +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+26.7% per year) and Saudi Arabia (0.0% per year).

In value terms, the largest markets for glass fibres and wool exported from Greece were Cyprus ($X), Saudi Arabia ($X) and the United States ($X), with a combined 79% share of total exports. Bulgaria, Malta and Marshall Islands lagged somewhat behind, together accounting for a further 10%.

Malta, with a CAGR of +79.2%, saw 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

In 2022, the average glass fibres and wool export price amounted to $X per ton, growing by 14% against the previous year. In general, the export price saw a buoyant increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 44% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Cyprus ($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 the United States (+35.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Glass Fibres And Glass Wool

Imports into Greece

In 2022, supplies from abroad of glass fibres and glass wool increased by 143% to X tons, rising for the second year in a row after two years of decline. Overall, imports recorded a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, glass fibres and wool imports surged to $X in 2022. Over the period under review, imports continue to indicate a pronounced expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of glass fibres and wool to Greece, accounting for a 39% share of total imports. Moreover, glass fibres and wool imports from Turkey exceeded the figures recorded by the second-largest supplier, Bulgaria (X tons), twofold. The third position in this ranking was taken by China (X tons), with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+104.1% per year) and China (-0.3% per year).

In value terms, Turkey ($X), China ($X) and Bulgaria ($X) constituted the largest glass fibres and wool suppliers to Greece, together comprising 47% of total imports. Italy, Hungary, Serbia, Germany, Poland and the United States lagged somewhat behind, together comprising a further 31%.

In terms of the main suppliers, Serbia, with a CAGR of +223.0%, recorded 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 fibres and wool import price stood at $X per ton in 2022, reducing by -29.9% against the previous year. In general, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass fibres and wool import price decreased by -42.3% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 34% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Turkey ($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 (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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