Latin America and the Caribbean: 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 Latin America and the Caribbean

The Latin American market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles rose notably to $X in 2021, picking up by 7% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Latin America and the Caribbean

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles totaled $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 8.3%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

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

Exports in Latin America and the Caribbean

In 2021, overseas shipments of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles were finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when exports increased by 29%. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles surged to $X in 2021. The total export value increased at an average annual rate of +5.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico represented the key exporter of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles in Latin America and the Caribbean, with the volume of exports amounting to X tons, which was near 83% of total exports in 2021. It was distantly followed by Brazil (X tons), committing a 16% share of total exports.

Exports from Mexico increased at an average annual rate of +3.5% from 2012 to 2021. At the same time, Brazil (+9.9%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +9.9% from 2012-2021. From 2012 to 2021, the share of Brazil increased by +6.2 percentage points.

In value terms, Mexico ($X) remains the largest glass fibre filament, roving, and staple glass fibre article supplier in Latin America and the Caribbean, comprising 84% of total exports. The second position in the ranking was held by Brazil ($X), with a 15% share of total exports.

In Mexico, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles expanded at an average annual rate of +4.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, rising by 5.1% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 16%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Brazil stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+1.1%).

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

Imports in Latin America and the Caribbean

In 2021, approx. X tons of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles were imported in Latin America and the Caribbean; rising by 49% on the year before. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles surged to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico (X tons) and Brazil (X tons) dominates articles structure, together making up 79% of total imports. Argentina (X tons) ranks next in terms of the total imports with a 9.7% share, followed by Colombia (6.7%).

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +7.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Argentina ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 89% share of total imports.

Brazil, with a CAGR of +8.8%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 12% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Colombia ($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 (+0.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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