India: Glass Fiber Market 2024

Glass Fiber Market Size in India

In 2021, after three years of growth, there was decline in the Indian glass fiber market, when its value decreased by -3.9% to $X. The market value increased at an average annual rate of +1.0% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020, and then contracted slightly in the following year.

Glass Fiber Production in India

In value terms, glass fiber production dropped slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the production volume increased by 33% against the previous year. Glass fiber production peaked at $X in 2020, and then shrank modestly in the following year.

Glass Fiber Exports

Exports from India

In 2021, shipments abroad of voiles, webs, mats and other articles of glass fibers increased by 47% to X tons, rising for the fifth year in a row after three years of decline. Over the period under review, exports continue to indicate resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, glass fiber exports skyrocketed to $X in 2021. In general, exports posted a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for glass fiber exports from India, with a 47% share of total exports. Moreover, glass fiber exports to the United States exceeded the volume sent to the second major destination, Lithuania (X tons), eightfold. The UK (X tons) ranked third in terms of total exports with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +40.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+149.1% per year) and the UK (+24.3% per year).

In value terms, the United States ($X) remains the key foreign market for voiles, webs, mats and other articles of glass fibers exports from India, comprising 48% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 5.5% share of total exports. It was followed by Germany, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +42.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+12.0% per year) and Germany (+9.8% per year).

Export Prices by Country

In 2021, the average glass fiber export price amounted to $X per ton, surging by 5.1% against the previous year. Over the period under review, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, glass fiber export price increased by +62.6% against 2013 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 11%. The export price peaked in 2021 and is likely to continue growth in years to come.

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 France ($X per ton), while the average price for exports to Singapore ($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 Spain (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fiber Imports

Imports into India

Glass fiber imports into India rose sharply to X tons in 2021, with an increase of 14% compared with 2020. Over the period under review, imports recorded a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 35%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, glass fiber imports skyrocketed to $X in 2021. In general, imports continue to indicate a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest glass fiber supplier to India, accounting for a 73% share of total imports. It was followed by the United Arab Emirates (X tons), with a 2.4% share of total imports. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+26.1% per year) and Taiwan (Chinese) (+6.9% per year).

In value terms, China ($X) constituted the largest supplier of voiles, webs, mats and other articles of glass fibers to India, comprising 56% of total imports. The second position in the ranking was held by the United States ($X), with a 9.1% share of total imports. It was followed by Spain, with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.1% per year) and Spain (+40.6% per year).

Import Prices by Country

The average glass fiber import price stood at $X per ton in 2021, rising by 10% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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