Latin America and the Caribbean: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in Latin America and the Caribbean

In 2021, the Latin American glass fibre chopped strand market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 6.4% against the previous year. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of Glass Fibre Chopped Strands in Latin America and the Caribbean

In value terms, glass fibre chopped strand production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 6.4% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Exports of Glass Fibre Chopped Strands

Exports in Latin America and the Caribbean

In 2021, the amount of glass fibre chopped strands exported in Latin America and the Caribbean shrank to X tons, dropping by -7.4% against the previous year. In general, exports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2016 when exports increased by 169% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, glass fibre chopped strand exports soared to $X in 2021. Over the period under review, exports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2016 with an increase of 129% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Mexico (X tons) and Brazil (X tons) dominates exports structure, together constituting 96% of total exports. Trinidad and Tobago (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Mexico (with a CAGR of +43.1%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) remains the largest glass fibre chopped strand supplier in Latin America and the Caribbean, comprising 66% of total exports. The second position in the ranking was held by Brazil ($X), with a 31% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Mexico stood at +48.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (-2.9% per year) and Trinidad and Tobago (+0.1% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, increasing by 42% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export 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 exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+3.9%), while the other leaders experienced a decline in the export price figures.

Imports of Glass Fibre Chopped Strands

Imports in Latin America and the Caribbean

In 2021, overseas purchases of glass fibre chopped strands were finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre chopped strand imports soared to $X in 2021. Total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Mexico (X tons) represented the largest importer of glass fibre chopped strands, making up 57% of total imports. It was distantly followed by Brazil (X tons) and Argentina (X tons), together comprising a 38% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Mexico (with a CAGR of +7.8%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest glass fibre chopped strand importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Argentina ($X), together comprising 95% of total imports.

Mexico, with a CAGR of +7.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, growing by 12% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+2.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :