MERCOSUR: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in MERCOSUR

The MERCOSUR glass fibres and wool market reduced to $X in 2022, falling by -5.2% against the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Glass Fibres And Glass Wool in MERCOSUR

In value terms, glass fibres and wool production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 27% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Glass Fibres And Glass Wool

Exports in MERCOSUR

In 2022, the amount of glass fibres and glass wool exported in MERCOSUR skyrocketed to X tons, with an increase of 33% compared with the previous year's figure. Overall, exports, however, continue to indicate a noticeable contraction. The pace of growth was the most pronounced in 2020 with an increase of 46%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, glass fibres and wool exports skyrocketed to $X in 2022. In general, exports, however, showed a slight descent. The pace of growth was the most pronounced in 2018 when exports increased by 72% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Colombia (X tons) represented the main exporter of glass fibres and glass wool, achieving 48% of total exports. Uruguay (X tons) ranks second in terms of the total exports with a 14% share, followed by Brazil (14%), Peru (11%) and Ecuador (7.5%). The following exporters - Argentina (X tons) and Chile (X tons) - together made up 5.3% of total exports.

Colombia experienced a relatively flat trend pattern with regard to volume of exports of glass fibres and glass wool. At the same time, Peru (+10.3%) and Ecuador (+2.1%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +10.3% from 2012-2022. By contrast, Argentina (-1.4%), Brazil (-4.7%), Chile (-8.8%) and Uruguay (-12.6%) illustrated a downward trend over the same period. While the share of Colombia (+18 p.p.), Peru (+7.9 p.p.) and Ecuador (+3.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Brazil (-1.6 p.p.), Chile (-1.7 p.p.) and Uruguay (-24.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest glass fibres and wool supplying countries in MERCOSUR were Peru ($X), Colombia ($X) and Argentina ($X), together comprising 67% of total exports.

Peru, with a CAGR of +29.8%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, rising by 5% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2016 an increase of 34%. The level of export 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 exporting countries. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+17.7%), while the other leaders experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports in MERCOSUR

In 2022, overseas purchases of glass fibres and glass wool increased by 0.4% to X tons, rising for the second year in a row after two years of decline. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 55% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, glass fibres and wool imports rose modestly to $X in 2022. Total imports indicated a tangible 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. Based on 2022 figures, imports increased by +62.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 60% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Brazil (X tons) and Chile (X tons) prevails in imports structure, together committing 73% of total imports. Peru (X tons) ranks next in terms of the total imports with a 7.2% share, followed by Ecuador (6.9%). Argentina (X tons), Colombia (X tons) and Uruguay (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +12.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constitutes the largest market for imported glass fibres and glass wool in MERCOSUR, comprising 55% of total imports. The second position in the ranking was held by Chile ($X), with an 18% share of total imports. It was followed by Argentina, with an 8.8% share.

In Brazil, glass fibres and wool imports increased at an average annual rate of +4.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Chile (+5.4% per year) and Argentina (+7.3% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, leveling off at the previous year. In general, the import price, however, continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2021 when the import price increased by 3% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+6.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform