India: Market for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles 2024

Market Size for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in India

The Indian market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles rose to $X in 2021, increasing by 2.5% against the previous year. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of 7.6%. Consumption of peaked in 2021 and is likely to see steady growth in the immediate term.

Production of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in India

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 17%. As a result, production reached the peak level of $X; afterwards, it flattened through to 2021.

Exports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Exports from India

In 2021, the amount of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles exported from India contracted dramatically to X tons, with a decrease of -42% compared with the year before. Overall, exports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2019 with an increase of 614% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles declined sharply to $X in 2021. In general, exports, however, showed temperate growth. The most prominent rate of growth was recorded in 2019 when exports increased by 261%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

Brazil (X tons), Belgium (X tons) and Morocco (X tons) were the main destinations of exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from India, with a combined 74% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Morocco (with a CAGR of +152.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Morocco ($X) and Belgium ($X) appeared to be the largest markets for glass fibre filament, roving, and staple glass fibre article exported from India worldwide, with a combined 59% share of total exports.

Among the main countries of destination, Morocco, with a CAGR of +96.6%, recorded the highest growth rate of 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 export price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles stood at $X per ton in 2021, surging by 39% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Japan ($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 Turkey (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Imports into India

In 2021, supplies from abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles was finally on the rise to reach X tons after two years of decline. In general, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of 52% against the previous year. Over the period under review, imports of hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles soared to $X in 2021. Overall, imports continue to indicate a strong expansion. Over the period under review, imports of hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Malaysia (X tons) and Bahrain (X tons) were the main suppliers of imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to India, with a combined 75% share of total imports. Egypt, Mexico, the United States, Taiwan (Chinese) and South Korea lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +81.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to India, comprising 41% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 19% share of total imports. It was followed by Bahrain, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+10.8% per year) and Bahrain (+73.0% per year).

Import Prices by Country

The average import price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles stood at $X per ton in 2021, surging by 31% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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