India: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in India

The Indian glass fibre fabrics market declined modestly to $X in 2022, shrinking by -2.4% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Glass fibre fabrics consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Glass Fibre Fabrics Production in India

In value terms, glass fibre fabrics production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 37% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Glass Fibre Fabrics Exports

Exports from India

For the fourth consecutive year, India recorded growth in overseas shipments of glass fibre fabrics, which increased by 36% to X tons in 2022. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 89%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, glass fibre fabrics exports soared to $X in 2022. In general, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons), Germany (X tons) and the United States (X tons) were the main destinations of glass fibre fabrics exports from India, with a combined 56% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +62.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glass fibre fabrics exported from India were Spain ($X), Germany ($X) and the United States ($X), together accounting for 52% of total exports.

In terms of the main countries of destination, Spain, with a CAGR of +51.9%, 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

In 2022, the average glass fibre fabrics export price amounted to $X per ton, increasing by 15% against the previous year. Over the period under review, the export price, however, saw a perceptible decline. The pace of growth appeared the most rapid in 2013 when the average export price increased by 33% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average 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 Kuwait ($X per ton), while the average price for exports to Poland ($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 Romania (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Fabrics Imports

Imports into India

In 2022, glass fibre fabrics imports into India amounted to X tons, increasing by 11% compared with the previous year's figure. In general, imports saw a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 55% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, glass fibre fabrics imports declined to $X in 2022. Overall, imports recorded prominent growth. The pace of growth appeared the most rapid in 2017 when imports increased by 54%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of glass fibre fabrics to India, with a 88% share of total imports. It was followed by Germany (X tons), with a 2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+14.7% per year) and Belgium (-20.5% per year).

In value terms, China ($X) constituted the largest supplier of glass fibre fabrics to India, comprising 71% of total imports. The second position in the ranking was taken by Germany ($X), with a 6.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+13.4% per year) and Belgium (-16.5% per year).

Import Prices by Country

The average glass fibre fabrics import price stood at $X per ton in 2022, reducing by -16.2% against the previous year. Over the period under review, the import price continues to indicate a perceptible descent. The pace of growth appeared the most rapid in 2021 when the average import price increased by 21% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+5.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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