India: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in India

The Indian glass fibre mat market stood at $X in 2022, with an increase of 5.6% against the previous year. Overall, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 -5.3% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Glass Fibre Mat Production in India

In value terms, glass fibre mat production expanded to $X in 2022 estimated in export price. Over the period under review, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 -3.5% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 26%. Glass fibre mat production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Glass Fibre Mat Exports

Exports from India

In 2022, the amount of glass fibre mats exported from India fell markedly to X tons, with a decrease of -19.2% on the year before. Overall, exports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 59%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, glass fibre mat exports dropped rapidly to $X in 2022. Over the period under review, exports continue to indicate a perceptible setback. The growth pace was the most rapid in 2021 when exports increased by 77%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Belgium (X tons) was the main destination for glass fibre mat exports from India, accounting for a 31% share of total exports. Moreover, glass fibre mat exports to Belgium exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The third position in this ranking was taken by the UK (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium amounted to -11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+12.6% per year) and the UK (+12.0% per year).

In value terms, the largest markets for glass fibre mat exported from India were the United Arab Emirates ($X), Belgium ($X) and the UK ($X), with a combined 58% share of total exports. Poland, Indonesia, Spain, Romania, Nepal, Australia, the United States, Germany and Croatia lagged somewhat behind, together comprising a further 35%.

Among the main countries of destination, the United States, with a CAGR of +126.7%, recorded the highest rates of growth with regard to 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 mat export price stood at $X per ton in 2022, falling by -3.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2020 when the average export price increased by 14% against the previous year. The export price peaked at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Belgium ($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 Arab Emirates (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Mat Imports

Imports into India

In 2022, purchases abroad of glass fibre mats was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports recorded a significant increase. The pace of growth appeared the most rapid in 2014 when imports increased by 141% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, glass fibre mat imports expanded markedly to $X in 2022. Over the period under review, imports saw a strong expansion. The most prominent rate of growth was recorded in 2015 with an increase of 92% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibre mat supplier to India, accounting for a 63% share of total imports. Moreover, glass fibre mat imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), eightfold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +22.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+46.4% per year) and Taiwan (Chinese) (+11.4% per year).

In value terms, China ($X) constituted the largest supplier of glass fibre mats to India, comprising 58% of total imports. The second position in the ranking was taken by Thailand ($X), with an 8% share of total imports. It was followed by Taiwan (Chinese), with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+45.5% per year) and Taiwan (Chinese) (+14.8% per year).

Import Prices by Country

The average glass fibre mat import price stood at $X per ton in 2022, which is down by -4.4% against the previous year. In general, the import price recorded a perceptible reduction. The pace of growth was the most pronounced in 2016 when the average import price increased by 17%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+40.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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