Malaysia: Safety Glass Market 2024

Safety Glass Market Size in Malaysia

The Malaysian safety glass market skyrocketed to $X in 2022, growing by 80% against the previous year. Overall, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Safety Glass Production in Malaysia

In value terms, safety glass production expanded remarkably to $X in 2022 estimated in export price. Overall, production enjoyed a resilient increase. The pace of growth appeared the most rapid in 2017 with an increase of 902% against the previous year. Safety glass production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Safety Glass Exports

Exports from Malaysia

In 2022, after six years of growth, there was significant decline in shipments abroad of safety glass, when their volume decreased by -9% to X square meters. Over the period under review, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 280%. Over the period under review, the exports reached the peak figure at X square meters in 2021, and then declined in the following year.

In value terms, safety glass exports dropped to $X in 2022. Overall, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 310%. Over the period under review, the exports reached the maximum at $X in 2021, and then dropped in the following year.

Exports by Country

India (X square meters), Turkey (X square meters) and Thailand (X square meters) were the main destinations of safety glass exports from Malaysia, with a combined 27% share of total exports. Vietnam, the United States, South Korea, Singapore, Slovenia and Germany lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovenia (with a CAGR of +247.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for safety glass exported from Malaysia were India ($X), Turkey ($X) and Thailand ($X), with a combined 57% share of total exports. Vietnam, the United States, Singapore, South Korea, Slovenia and Germany lagged somewhat behind, together accounting for a further 28%.

In terms of the main countries of destination, Slovenia, with a CAGR of +182.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average safety glass export price stood at $X per square meter in 2021, rising by 3.3% against the previous year. Overall, the export price, however, showed a pronounced contraction. The pace of growth appeared the most rapid in 2017 when the average export price increased by 7.9%. As a result, the export price reached the peak level of $X per square meter. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per square meter), while the average price for exports to Germany ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Safety Glass Imports

Imports into Malaysia

In 2022, purchases abroad of safety glass increased by 83% to X square meters, rising for the second year in a row after two years of decline. Overall, imports posted strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, safety glass imports expanded rapidly to $X in 2022. Over the period under review, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2016 when imports increased by 51% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X square meters) was the main supplier of safety glass to Malaysia, with a 91% share of total imports. Moreover, safety glass imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X square meters), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+0.5% per year) and Indonesia (+31.4% per year).

In value terms, China ($X) constituted the largest supplier of safety glass to Malaysia, comprising 81% of total imports. The second position in the ranking was held by Thailand ($X), with a 7.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-0.2% per year) and Indonesia (+20.6% per year).

Import Prices by Country

The average safety glass import price stood at $X per square meter in 2021, approximately reflecting the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 11% against the previous year. The import price peaked at $X per square meter in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per square meter), while the price for China ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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