Latin America and the Caribbean: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in Latin America and the Caribbean

After four years of growth, the Latin American glass fibre fabrics market decreased by -3.8% to $X in 2022. The total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then contracted in the following year.

Glass Fibre Fabrics Production in Latin America and the Caribbean

In value terms, glass fibre fabrics production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 28%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Glass Fibre Fabrics Exports

Exports in Latin America and the Caribbean

Glass fibre fabrics exports declined to X tons in 2022, which is down by -14.9% against the previous year's figure. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 60%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass fibre fabrics exports fell to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 27%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Mexico dominates exports structure, accounting for X tons, which was approx. 95% of total exports in 2022. Brazil (X tons) held a little share of total exports.

Mexico experienced a relatively flat trend pattern with regard to volume of exports of glass fibre fabrics. Brazil (-7.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico increased by +4.1 percentage points.

In value terms, Mexico ($X) remains the largest glass fibre fabrics supplier in Latin America and the Caribbean, comprising 96% of total exports. The second position in the ranking was taken by Brazil ($X), with a 2.6% share of total exports.

In Mexico, glass fibre fabrics exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, rising by 6.7% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 52% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Mexico (-0.4%).

Glass Fibre Fabrics Imports

Imports in Latin America and the Caribbean

After five years of growth, overseas purchases of glass fibre fabrics decreased by -20.8% to X tons in 2022. Overall, imports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2015 when imports increased by 34%. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined dramatically in the following year.

In value terms, glass fibre fabrics imports shrank rapidly to $X in 2022. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 26% against the previous year. As a result, imports attained the peak of $X, and then shrank dramatically in the following year.

Imports by Country

Mexico represented the main importing country with an import of around X tons, which accounted for 65% of total imports. It was distantly followed by Brazil (X tons), Argentina (X tons) and Costa Rica (X tons), together creating a 21% share of total imports. The following importers - Colombia (X tons) and Chile (X tons) - together made up 7.2% of total imports.

Imports into Mexico increased at an average annual rate of +8.7% from 2012 to 2022. At the same time, Costa Rica (+19.4%), Argentina (+5.8%), Colombia (+4.8%) and Brazil (+2.3%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +19.4% from 2012-2022. By contrast, Chile (-3.1%) illustrated a downward trend over the same period. Mexico (+12 p.p.) and Costa Rica (+3.6 p.p.) significantly strengthened its position in terms of the total imports, while Chile and Brazil saw its share reduced by -4.9% and -5.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported glass fibre fabrics in Latin America and the Caribbean, comprising 67% of total imports. The second position in the ranking was held by Brazil ($X), with an 8.6% share of total imports. It was followed by Argentina, with a 7.5% share.

In Mexico, glass fibre fabrics imports expanded at an average annual rate of +4.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-6.2% per year) and Argentina (+1.6% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, rising by 6.6% against the previous year. Over the period under review, the import price, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2016 when the import price increased by 11% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+2.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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