Indonesia: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in Indonesia

In 2021, the Indonesian glass fibre chopped strand market increased by 44% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, continues to indicate a pronounced contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Glass Fibre Chopped Strands

Exports from Indonesia

In 2021, shipments abroad of glass fibre chopped strands decreased by -82.5% to X tons, falling for the second year in a row after three years of growth. In general, exports, however, enjoyed a pronounced increase. The most prominent rate of growth was recorded in 2013 when exports increased by 708% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, glass fibre chopped strand exports contracted rapidly to $X in 2021. Overall, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 680%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia (X tons) was the main destination for glass fibre chopped strand exports from Indonesia, with a 59% share of total exports. Moreover, glass fibre chopped strand exports to Malaysia exceeded the volume sent to the second major destination, Timor-Leste (X kg), twofold. The third position in this ranking was held by the Netherlands (X kg), with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia stood at +45.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Timor-Leste (+32.7% per year) and the Netherlands (+46.8% per year).

In value terms, Malaysia ($X) remains the key foreign market for glass fibre chopped strands exports from Indonesia, comprising 73% of total exports. The second position in the ranking was taken by Japan ($X), with a 9.2% share of total exports. It was followed by the Netherlands, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia totaled +33.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+11.8% per year) and the Netherlands (+19.9% per year).

Export Prices by Country

The average glass fibre chopped strand export price stood at $X per ton in 2021, dropping by -9% against the previous year. Over the period under review, the export price showed a abrupt decline. The pace of growth was the most pronounced in 2020 an increase of 2% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Timor-Leste ($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 China (+6.3%), while the prices for the other major destinations experienced a decline.

Imports of Glass Fibre Chopped Strands

Imports into Indonesia

In 2021, glass fibre chopped strand imports into Indonesia surged to X tons, growing by 37% against 2020 figures. In general, total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -9.1% against 2019 indices. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, glass fibre chopped strand imports soared to $X in 2021. Overall, imports, however, recorded a deep setback. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of glass fibre chopped strand to Indonesia, accounting for a 72% share of total imports. Moreover, glass fibre chopped strand imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with a 1.8% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia totaled +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.2% per year) and South Korea (-10.7% per year).

In value terms, Malaysia ($X) constituted the largest supplier of glass fibre chopped strands to Indonesia, comprising 64% of total imports. The second position in the ranking was taken by China ($X), with a 27% share of total imports. It was followed by South Korea, with a 1.8% share.

From 2012 to 2021, the average annual growth rate of value from Malaysia stood at +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.2% per year) and South Korea (-12.9% per year).

Import Prices by Country

In 2021, the average glass fibre chopped strand import price amounted to $X per ton, surging by 6.9% against the previous year. In general, the import price, however, showed a abrupt downturn. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, 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 Singapore ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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