Guatemala: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Guatemala

The Guatemalan glass fibres and wool market rose slightly to $X in 2022, with an increase of 4.1% against the previous year. In general, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.0% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Production of Glass Fibres And Glass Wool in Guatemala

In value terms, glass fibres and wool production fell to $X in 2022 estimated in export price. Over the period under review, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -18.1% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 64% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Exports of Glass Fibres And Glass Wool

Exports from Guatemala

For the third consecutive year, Guatemala recorded growth in shipments abroad of glass fibres and glass wool, which increased by 63% to X tons in 2022. In general, exports continue to indicate temperate growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass fibres and wool exports soared to $X in 2022. Overall, total exports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.3% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons), El Salvador (X tons) and Costa Rica (X tons) were the main destinations of glass fibres and wool exports from Guatemala, with a combined 69% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +48.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), El Salvador ($X) and Costa Rica ($X) constituted the largest markets for glass fibres and wool exported from Guatemala worldwide, together accounting for 59% of total exports. Honduras, Mexico, Nicaragua and Panama lagged somewhat behind, together accounting for a further 37%.

Mexico, with a CAGR of +48.5%, 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, which is down by -6.6% against the previous year. In general, the export price recorded a slight contraction. The most prominent rate of growth was recorded in 2017 an increase of 56%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, 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 the United States ($X per ton), while the average price for exports to Mexico ($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 (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Guatemala

In 2022, approx. X tons of glass fibres and glass wool were imported into Guatemala; jumping by 538% on the previous year's figure. Over the period under review, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass fibres and wool imports soared to $X in 2022. In general, imports recorded significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibres and wool supplier to Guatemala, with a 47% share of total imports. Moreover, glass fibres and wool imports from China exceeded the figures recorded by the second-largest supplier, Colombia (X tons), threefold. Mexico (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +46.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+38.9% per year) and Mexico (+14.0% per year).

In value terms, the largest glass fibres and wool suppliers to Guatemala were the United States ($X), China ($X) and Mexico ($X), together accounting for 68% of total imports. Colombia, Malaysia and South Korea lagged somewhat behind, together comprising a further 22%.

Malaysia, with a CAGR of +198.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average glass fibres and wool import price amounted to $X per ton, falling by -18.5% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 26%. As a result, import price reached the peak level of $X per ton. From 2018 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 Malaysia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+4.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform