MERCOSUR: 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 MERCOSUR

The MERCOSUR market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles skyrocketed to $X in 2021, growing by 16% against the previous year. Overall, consumption, however, continues to indicate a noticeable decrease. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

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

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles rose remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a noticeable reduction. Over the period under review, production of hit record highs at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

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

Exports in MERCOSUR

In 2021, shipments abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports recorded a strong expansion. The pace of growth appeared the most rapid in 2015 with an increase of 219% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles skyrocketed to $X in 2021. Over the period under review, exports enjoyed a buoyant expansion. The growth pace was the most rapid in 2015 when exports increased by 155% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

The biggest shipments were from Brazil (X tons), together finishing at 99% of total export.

Brazil was also the fastest-growing in terms of the glass fibre filaments, rovings, chopped strands, and staple glass fibre articles exports, with a CAGR of +9.9% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) also remains the largest glass fibre filament, roving, and staple glass fibre article supplier in MERCOSUR.

In Brazil, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles expanded at an average annual rate of +8.1% over the period from 2012-2021.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, growing by 15% against the previous year. Overall, the export price, however, recorded a slight decline. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Brazil.

From 2012 to 2021, the rate of growth in terms of prices for Brazil amounted to -1.6% per year.

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

Imports in MERCOSUR

In 2021, the amount of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles imported in MERCOSUR surged to X tons, rising by 53% against the previous year's figure. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +85.0% against 2016 indices. Over the period under review, imports of hit record highs at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles soared to $X in 2021. Overall, imports enjoyed a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil represented the key importer of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles in MERCOSUR, with the volume of imports recording X tons, which was approx. 62% of total imports in 2021. Argentina (X tons) took the second position in the ranking, followed by Colombia (X tons). All these countries together held near 30% share of total imports. The following importers - Chile (X tons), Ecuador (X tons) and Peru (X tons) - each accounted for a 6% share of total imports.

Imports into Brazil increased at an average annual rate of +7.8% from 2012 to 2021. At the same time, Peru (+22.4%), Colombia (+5.9%) and Chile (+4.4%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +22.4% from 2012-2021. Argentina experienced a relatively flat trend pattern. By contrast, Ecuador (-2.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil increased by +13 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported glass fibre filaments, rovings, chopped strands, and staple glass fibre articles in MERCOSUR, comprising 65% of total imports. The second position in the ranking was held by Argentina ($X), with an 18% share of total imports. It was followed by Colombia, with an 8.6% share.

From 2012 to 2021, the average annual growth rate of value in Brazil amounted to +8.8%. In the other countries, the average annual rates were as follows: Argentina (+1.0% per year) and Colombia (+2.0% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, rising by 24% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Chile ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform