Malaysia: Glass Fiber Market 2024

Glass Fiber Market Size in Malaysia

In 2021, the Malaysian glass fiber market increased by 6.4% to $X, rising for the third year in a row after two years of decline. Overall, consumption recorded a mild expansion. Glass fiber consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Glass Fiber Production in Malaysia

In value terms, glass fiber production stood at $X in 2021 estimated in export price. In general, the total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -6.9% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 48%. Glass fiber production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Glass Fiber Exports

Exports from Malaysia

In 2021, exports of voiles, webs, mats and other articles of glass fibers from Malaysia rose remarkably to X tons, with an increase of 5.1% compared with 2020 figures. Overall, total exports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -21.2% against 2019 indices. The pace of growth was the most pronounced in 2018 when exports increased by 51% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, glass fiber exports declined markedly to $X in 2021. Over the period under review, exports, however, saw a slight slump. The most prominent rate of growth was recorded in 2014 with an increase of 95%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Australia (X tons) was the main destination for glass fiber exports from Malaysia, with a 38% share of total exports. Moreover, glass fiber exports to Australia exceeded the volume sent to the second major destination, New Zealand (X tons), threefold. South Korea (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Australia stood at +30.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+39.9% per year) and South Korea (-5.7% per year).

In value terms, the largest markets for glass fiber exported from Malaysia were Australia ($X), Indonesia ($X) and South Korea ($X), together accounting for 47% of total exports. China, New Zealand, Singapore and Hong Kong SAR lagged somewhat behind, together comprising a further 38%.

New Zealand, with a CAGR of +45.7%, 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 glass fiber export price stood at $X per ton in 2021, reducing by -24% against the previous year. In general, the export price showed a pronounced downturn. The growth pace was the most rapid in 2014 when the average export price increased by 53% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+19.5%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fiber Imports

Imports into Malaysia

In 2021, supplies from abroad of voiles, webs, mats and other articles of glass fibers increased by 1.2% to X tons, rising for the second year in a row after four years of decline. Over the period under review, imports, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2020 with an increase of 29%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, glass fiber imports soared to $X in 2021. Overall, imports, however, continue to indicate a perceptible reduction. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest glass fiber supplier to Malaysia, accounting for a 77% share of total imports. Moreover, glass fiber imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold. The United States (X tons) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+17.2% per year) and the United States (-0.4% per year).

In value terms, China ($X) constituted the largest supplier of voiles, webs, mats and other articles of glass fibers to Malaysia, comprising 46% of total imports. The second position in the ranking was held by Singapore ($X), with a 7.4% share of total imports. It was followed by the United States, with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-20.5% per year) and the United States (-1.0% per year).

Import Prices by Country

The average glass fiber import price stood at $X per ton in 2021, picking up by 16% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2019 an increase of 26% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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