Mexico: Glass Fibre Filament Market 2024

Glass Fibre Filament Market Size in Mexico

In 2021, the Mexican glass fibre filament market was finally on the rise to reach $X after two years of decline. Over the period under review, the total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -24.6% against 2016 indices. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Glass Fibre Filament Production in Mexico

In value terms, glass fibre filament production expanded remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 35%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Glass Fibre Filament Exports

Exports from Mexico

In 2021, approx. X tons of glass fibre filaments were exported from Mexico; picking up by 6.8% against 2020 figures. The total export volume increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 33% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass fibre filament exports skyrocketed to $X in 2021. In general, total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 38%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for glass fibre filament exports from Mexico, with a approx. 99.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +6.2%.

In value terms, the United States ($X) also remains the key foreign market for glass fibre filaments exports from Mexico.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +10.0%.

Export Prices by Country

The average glass fibre filament export price stood at $X per ton in 2021, rising by 21% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.4%. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +3.6% per year.

Glass Fibre Filament Imports

Imports into Mexico

In 2021, glass fibre filament imports into Mexico skyrocketed to X tons, picking up by 50% compared with 2020. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre filament imports skyrocketed to $X in 2021. Overall, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest glass fibre filament supplier to Mexico, accounting for a 70% share of total imports. Moreover, glass fibre filament imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.6% per year) and Germany (+183.5% per year).

In value terms, the United States ($X) constituted the largest supplier of glass fibre filaments to Mexico, comprising 65% of total imports. The second position in the ranking was held by China ($X), with a 32% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.2% per year) and Germany (+158.0% per year).

Import Prices by Country

The average glass fibre filament import price stood at $X per ton in 2021, leveling off at the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 2.6% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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