Malaysia: 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 Malaysia

The Malaysian market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles reduced rapidly to $X in 2021, shrinking by -17% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Malaysia

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles declined to $X in 2021 estimated in export price. In general, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by +0.1% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 26%. Over the period under review, production of hit record highs at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

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

Exports from Malaysia

In 2021, shipments abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased by 29% to X tons, rising for the second year in a row after two years of decline. In general, total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +36.6% against 2019 indices. The pace of growth appeared the most rapid in 2016 when exports increased by 31%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles surged to $X in 2021. Over the period under review, total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), the United States (X tons) and China (X tons) were the main destinations of exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from Malaysia, with a combined 40% share of total exports. These countries were followed by South Korea, Japan, the Netherlands, Italy, India, Thailand, Taiwan (Chinese) and Belgium, which together accounted for a further 51%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +48.1%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and China ($X) were the largest markets for glass fibre filament, roving, and staple glass fibre article exported from Malaysia worldwide, together comprising 42% of total exports. These countries were followed by South Korea, the Netherlands, Japan, Italy, India, Thailand, Taiwan (Chinese) and Belgium, which together accounted for a further 47%.

The Netherlands, with a CAGR of +43.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles stood at $X per ton in 2021, with an increase of 13% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and Italy ($X per ton), while the average price for exports to Japan ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.5%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Malaysia

In 2021, purchases abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles decreased by -7.4% to X tons, falling for the second year in a row after three years of growth. Overall, imports recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 21% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles expanded slightly to $X in 2021. In general, imports saw a perceptible setback. The most prominent rate of growth was recorded in 2014 with an increase of 21%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports of remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest glass fibre filament, roving, and staple glass fibre article supplier to Malaysia, accounting for a 82% share of total imports. Moreover, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), ninefold. Japan (X tons) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-0.2% per year) and Japan (-9.2% per year).

In value terms, China ($X) constituted the largest supplier of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Malaysia, comprising 73% of total imports. The second position in the ranking was taken by South Korea ($X), with a 14% share of total imports. It was followed by Japan, with an 8% share.

From 2012 to 2021, the average annual growth rate of value from China stood at -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+0.3% per year) and Japan (-8.9% per year).

Import Prices by Country

In 2021, the average import price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X per ton, surging by 12% against the previous year. Over the period under review, the import price, however, saw a noticeable setback. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+0.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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