Japan: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in Japan

In 2021, the Japanese glass fibre chopped strand market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, saw a slight setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Glass Fibre Chopped Strands in Japan

In value terms, glass fibre chopped strand production amounted to $X in 2021 estimated in export price. In general, production, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2016 when the production volume increased by 12%. Glass fibre chopped strand production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Glass Fibre Chopped Strands

Exports from Japan

In 2021, shipments abroad of glass fibre chopped strands increased by 15% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 21% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, glass fibre chopped strand exports skyrocketed to $X in 2021. Overall, exports, however, saw a slight decrease. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) were the main destinations of glass fibre chopped strand exports from Japan, together comprising 54% of total exports. The United States, Germany, Hong Kong SAR, Malaysia, Thailand, Switzerland and Belgium lagged somewhat behind, together comprising a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of +8.3%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and the United States ($X) were the largest markets for glass fibre chopped strand exported from Japan worldwide, together comprising 56% of total exports.

South Korea, with a CAGR of +8.8%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average glass fibre chopped strand export price amounted to $X per ton, increasing by 6.2% against the previous year. Over the period under review, the export price, however, showed a slight slump. The most prominent rate of growth was recorded in 2020 when the average export price increased by 9.5%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Malaysia ($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 the United States (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibre Chopped Strands

Imports into Japan

In 2021, supplies from abroad of glass fibre chopped strands increased by 13% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 46% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, glass fibre chopped strand imports rose markedly to $X in 2021. Over the period under review, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2014 when imports increased by 46%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Malaysia (X tons), China (X tons) and South Korea (X tons) were the main suppliers of glass fibre chopped strand imports to Japan, together comprising 95% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +22.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), China ($X) and South Korea ($X) constituted the largest glass fibre chopped strand suppliers to Japan, with a combined 93% share of total imports.

South Korea, with a CAGR of +21.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glass fibre chopped strand import price stood at $X per ton in 2021, falling by -3.8% against the previous year. Over the period under review, the import price saw a perceptible reduction. The most prominent rate of growth was recorded in 2016 an increase of 3.8%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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