Japan: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in Japan

The Japanese glass fibre mat market rose sharply to $X in 2022, picking up by 7.4% against the previous year. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.5% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Glass Fibre Mat Production in Japan

In value terms, glass fibre mat production rose rapidly to $X in 2022 estimated in export price. In general, production saw a noticeable expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 42% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Glass Fibre Mat Exports

Exports from Japan

In 2022, the amount of glass fibre mats exported from Japan shrank to X tons, which is down by -8.2% on the previous year's figure. Overall, exports saw a deep slump. The pace of growth was the most pronounced in 2013 when exports increased by 50%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, glass fibre mat exports declined to $X in 2022. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 36%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for glass fibre mat exports from Japan, accounting for a 48% share of total exports. Moreover, glass fibre mat exports to the United States exceeded the volume sent to the second major destination, Thailand (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +27.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-15.0% per year) and Vietnam (+6.6% per year).

In value terms, the largest markets for glass fibre mat exported from Japan were Vietnam ($X), the United States ($X) and Thailand ($X), with a combined 87% share of total exports.

In terms of the main countries of destination, Vietnam, with a CAGR of +33.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average glass fibre mat export price amounted to $X per ton, declining by -5.4% against the previous year. Over the period under review, the export price, however, recorded a mild expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 53%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Malaysia ($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 Vietnam (+25.0%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Mat Imports

Imports into Japan

In 2022, supplies from abroad of glass fibre mats was finally on the rise to reach X tons after two years of decline. Overall, total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -10.2% against 2019 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 55% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, glass fibre mat imports totaled $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 30%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of glass fibre mat imports to Japan, together accounting for 93% of total imports. France, the United States and Italy lagged somewhat behind, together accounting for a further 4.5%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +90.4%), while purchases for 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 glass fibre mat suppliers to Japan, with a combined 83% share of total imports. Taiwan (Chinese), France and Italy lagged somewhat behind, together comprising a further 8.4%.

Among the main suppliers, France, with a CAGR of +67.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average glass fibre mat import price stood at $X per ton in 2022, which is down by -1.9% against the previous year. Over the period under review, the import price saw a pronounced decline. The most prominent rate of growth was recorded in 2021 when the average import price increased by 3.9%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (-2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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