Mexico: 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 Mexico

The Mexican market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles rose significantly to $X in 2021, increasing by 6.4% against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Consumption of peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

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

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles rose notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 17% against the previous year. Production of peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

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

Exports from Mexico

In 2021, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from Mexico surged to X tons, with an increase of 18% on the previous year. The total export volume increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 27% against the previous year. Over the period under review, the exports of attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports stood 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. The total export value increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 25% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles 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, rovings, chopped strands, and staple glass fibre articles exports from Mexico.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +8.1%.

Export Prices by Country

In 2021, the average export price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X per ton, growing by 3.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 20%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

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 +1.8% per year.

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

Imports into Mexico

In 2021, the amount of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles imported into Mexico surged to X tons, picking up by 46% compared with 2020. In general, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.7% 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, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles soared to $X in 2021. Over the period under review, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. 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 supplier of glass fibre filament, roving, and staple glass fibre article to Mexico, accounting for a 68% share of total imports. Moreover, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.1% per year) and Malaysia (+29.3% per year).

In value terms, the United States ($X) constituted the largest supplier of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Mexico, comprising 65% of total imports. The second position in the ranking was held by China ($X), with a 26% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.1% per year) and Malaysia (+28.9% per year).

Import Prices by Country

In 2021, the average import price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X per ton, standing approx. at the previous year. In general, the import price recorded a mild slump. The pace of growth appeared the most rapid in 2015 an increase of 2.2%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Malaysia ($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 (+2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :