Iran: 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 Iran

The Iranian market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles shrank sharply to $X in 2021, waning by -41.2% 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). Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

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

Exports from Iran

In 2021, shipments abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles decreased by -36.4% to X tons, falling for the third year in a row after three years of growth. Over the period under review, exports showed a deep slump. The most prominent rate of growth was recorded in 2016 when exports increased by 410%. Over the period under review, the exports of attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles dropped rapidly to $X in 2021. In general, exports saw a deep slump. The pace of growth was the most pronounced in 2016 with an increase of 489%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Armenia (X tons) was the main destination for exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from Iran, accounting for a 77% share of total exports. Moreover, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Armenia exceeded the volume sent to the second major destination, Turkey (X tons), fivefold. The third position in this ranking was held by Georgia (X tons), with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Armenia totaled +22.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+15.5% per year) and Georgia (+6.9% per year).

In value terms, Armenia ($X) remains the key foreign market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles exports from Iran, comprising 73% of total exports. The second position in the ranking was held by Turkey ($X), with a 15% share of total exports. It was followed by Uzbekistan, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value to Armenia stood at +39.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+11.1% per year) and Uzbekistan (0.0% per year).

Export Prices by Country

In 2021, the average export price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X per ton, picking up by 6.4% against the previous year. Over the period under review, export price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles decreased by -32.7% against 2016 indices. The pace of growth was the most pronounced in 2013 an increase of 50%. The export price peaked at $X per ton in 2016; however, from 2017 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 Uzbekistan ($X per ton), while the average price for exports to Georgia ($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 Armenia (+14.1%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Iran

In 2021, purchases abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles decreased by -52.8% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 182%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles dropped significantly to $X in 2021. In general, imports, however, posted a mild expansion. The most prominent rate of growth was recorded in 2016 with an increase of 159%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the main supplier of glass fibre filament, roving, and staple glass fibre article to Iran, accounting for a 92% share of total imports. Moreover, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +1.3%.

In value terms, China ($X) constituted the largest supplier of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Iran, comprising 89% of total imports. The second position in the ranking was taken by South Korea ($X), with a 5.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +1.9%.

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, picking up by 46% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2014; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.6%).

Source: IndexBox Platform

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