Malaysia: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in Malaysia

The Malaysian glass fibre mat market expanded sharply to $X in 2022, growing by 6.8% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Glass fibre mat consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Glass Fibre Mat Production in Malaysia

In value terms, glass fibre mat production rose modestly to $X in 2022 estimated in export price. In general, production recorded a mild contraction. The most prominent rate of growth was recorded in 2016 when the production volume increased by 62% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Glass Fibre Mat Exports

Exports from Malaysia

In 2022, the amount of glass fibre mats exported from Malaysia contracted rapidly to X tons, waning by -28.4% against 2021. Over the period under review, exports saw a noticeable reduction. The pace of growth was the most pronounced in 2021 when exports increased by 104%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, glass fibre mat exports dropped remarkably to $X in 2022. In general, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 98% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for glass fibre mat exports from Malaysia, accounting for a 75% share of total exports. Moreover, glass fibre mat exports to Hong Kong SAR exceeded the volume sent to the second major destination, Germany (X tons), tenfold. The United States (X tons) ranked third in terms of total exports with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR amounted to -5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+29.3% per year) and the United States (+39.4% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for glass fibre mats exports from Malaysia, comprising 74% of total exports. The second position in the ranking was taken by the United States ($X), with a 5.3% share of total exports. It was followed by Germany, with a 5.2% share.

From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR amounted to -6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+30.6% per year) and Germany (+32.5% per year).

Export Prices by Country

In 2022, the average glass fibre mat export price amounted to $X per ton, with an increase of 5.1% against the previous year. Overall, the export price, however, saw a slight shrinkage. The pace of growth was the most pronounced in 2020 when the average export price increased by 16%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Germany ($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 Germany (+2.5%), while the prices for the other major destinations experienced a decline.

Glass Fibre Mat Imports

Imports into Malaysia

In 2022, purchases abroad of glass fibre mats was finally on the rise to reach X tons after two years of decline. Overall, imports enjoyed a strong increase. The pace of growth was the most pronounced in 2015 with an increase of 69% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, glass fibre mat imports dropped modestly to $X in 2022. In general, imports recorded a resilient increase. The pace of growth appeared the most rapid in 2015 when imports increased by 45%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibre mat supplier to Malaysia, accounting for a 83% share of total imports. Moreover, glass fibre mat imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold. The third position in this ranking was held by Belgium (X tons), with a 1.7% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+69.6% per year) and Belgium (+23.2% per year).

In value terms, China ($X) constituted the largest supplier of glass fibre mats to Malaysia, comprising 55% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports. It was followed by Thailand, with a 5% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+32.9% per year) and Thailand (+67.5% per year).

Import Prices by Country

The average glass fibre mat import price stood at $X per ton in 2022, falling by -13% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 34%. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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