Indonesia: Glass Fiber Market 2024

Glass Fiber Market Size in Indonesia

The Indonesian glass fiber market skyrocketed to $X in 2021, growing by 52% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +100.6% against 2015 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Glass Fiber Exports

Exports from Indonesia

In 2021, shipments abroad of voiles, webs, mats and other articles of glass fibers decreased by -27.2% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 378% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, glass fiber exports fell to $X in 2021. Overall, exports, however, showed a tangible expansion. The most prominent rate of growth was recorded in 2018 with an increase of 202%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

India (X tons), Vietnam (X tons) and Thailand (X tons) were the main destinations of glass fiber exports from Indonesia, with a combined 68% share of total exports. Japan, Australia, the United Arab Emirates, Mexico and Singapore lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +337.1%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the key foreign market for voiles, webs, mats and other articles of glass fibers exports from Indonesia, comprising 30% of total exports. The second position in the ranking was held by Japan ($X), with a 15% share of total exports. It was followed by Thailand, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India totaled +291.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+94.5% per year) and Thailand (+40.5% per year).

Export Prices by Country

The average glass fiber export price stood at $X per ton in 2021, with an increase of 24% against the previous year. In general, the export price continues to indicate a moderate increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by 72%. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

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 Mexico ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fiber Imports

Imports into Indonesia

In 2021, approx. X tons of voiles, webs, mats and other articles of glass fibers were imported into Indonesia; growing by 15% on 2020 figures. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 16% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, glass fiber imports soared to $X in 2021. Over the period under review, imports posted a prominent expansion. As a result, imports reached 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 Indonesia, accounting for a 64% share of total imports. Moreover, glass fiber imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), sevenfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+18.3% per year) and Taiwan (Chinese) (-3.1% per year).

In value terms, China ($X) constituted the largest supplier of voiles, webs, mats and other articles of glass fibers to Indonesia, comprising 52% of total imports. The second position in the ranking was held by Malaysia ($X), with a 16% share of total imports. It was followed by Cambodia, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+44.2% per year) and Cambodia (-29.7% per year).

Import Prices by Country

The average glass fiber import price stood at $X per ton in 2021, with an increase of 39% against the previous year. Overall, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, glass fiber import price increased by +88.7% against 2012 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Malaysia ($X per ton), while the price for Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+21.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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