Malaysia: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in Malaysia

The Malaysian glass fibre fabrics market surged to $X in 2022, increasing by 26% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a remarkable increase. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Glass Fibre Fabrics Exports

Exports from Malaysia

After two years of growth, overseas shipments of glass fibre fabrics decreased by -19.5% to X tons in 2022. Overall, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2020 when exports increased by 182% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, glass fibre fabrics exports fell sharply to $X in 2022. Over the period under review, exports saw a slight descent. The most prominent rate of growth was recorded in 2020 when exports increased by 343% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons) was the main destination for glass fibre fabrics exports from Malaysia, with a 83% share of total exports. Moreover, glass fibre fabrics exports to Indonesia exceeded the volume sent to the second major destination, South Africa (X tons), more than tenfold. Vietnam (X tons) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia totaled +106.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+22.0% per year) and Vietnam (+61.5% per year).

In value terms, Indonesia ($X) remains the key foreign market for glass fibre fabrics exports from Malaysia, comprising 79% of total exports. The second position in the ranking was taken by South Africa ($X), with a 5.5% share of total exports. It was followed by Australia, with a 2.2% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia amounted to +109.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+28.2% per year) and Australia (+37.0% per year).

Export Prices by Country

In 2022, the average glass fibre fabrics export price amounted to $X per ton, with a decrease of -1.9% against the previous year. Overall, the export price, however, enjoyed a temperate expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 71%. The export price peaked at $X per ton in 2021, and then shrank slightly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Thailand ($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 Myanmar (+69.8%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Fabrics Imports

Imports into Malaysia

In 2022, approx. X tons of glass fibre fabrics were imported into Malaysia; increasing by 11% compared with the year before. Overall, imports enjoyed strong growth. The growth pace was the most rapid in 2013 with an increase of 290% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, glass fibre fabrics imports surged to $X in 2022. Over the period under review, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 91% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibre fabrics supplier to Malaysia, accounting for a 76% share of total imports. Moreover, glass fibre fabrics imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), more than tenfold. The third position in this ranking was taken by the UK (X tons), with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+49.9% per year) and the UK (+1.6% per year).

In value terms, the UK ($X), China ($X) and France ($X) constituted the largest glass fibre fabrics suppliers to Malaysia, together accounting for 81% of total imports. Singapore lagged somewhat behind, accounting for a further 4.2%.

Among the main suppliers, Singapore, with a CAGR of +37.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average glass fibre fabrics import price amounted to $X per ton, surging by 17% against the previous year. Overall, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass fibre fabrics import price increased by +24.9% against 2020 indices. The pace of growth was the most pronounced in 2016 an increase of 65%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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