Mexico: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in Mexico

The Mexican glass fibre chopped strand market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Glass Fibre Chopped Strands in Mexico

In value terms, glass fibre chopped strand production expanded significantly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 22%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Glass Fibre Chopped Strands

Exports from Mexico

In 2021, the amount of glass fibre chopped strands exported from Mexico declined remarkably to X tons, reducing by -36.3% against the year before. In general, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 1,072%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass fibre chopped strand exports rose sharply to $X in 2021. Overall, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 1,089%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for glass fibre chopped strand exports from Mexico, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +43.8%.

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

From 2012 to 2021, the average annual growth rate of value to the United States totaled +49.1%.

Export Prices by Country

The average glass fibre chopped strand export price stood at $X per ton in 2021, picking up by 66% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.9%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 +3.7% per year.

Imports of Glass Fibre Chopped Strands

Imports into Mexico

In 2021, supplies from abroad of glass fibre chopped strands was finally on the rise to reach X tons after two years of decline. In general, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.8% over the last nine years. 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 chopped strand imports skyrocketed to $X in 2021. Overall, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached 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 chopped strand supplier to Mexico, accounting for a 62% share of total imports. Moreover, glass fibre chopped strand imports from the United States exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+29.3% per year) and China (+7.3% per year).

In value terms, the United States ($X) constituted the largest supplier of glass fibre chopped strands to Mexico, comprising 58% of total imports. The second position in the ranking was held by Malaysia ($X), with a 23% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+28.9% per year) and China (+9.5% per year).

Import Prices by Country

The average glass fibre chopped strand import price stood at $X per ton in 2021, approximately mirroring the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 3.1% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States ($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 (+2.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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