Myanmar: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Myanmar

In 2022, the Myanmar's glass fibre and article market was finally on the rise to reach $X after eight years of decline. In general, consumption, however, recorded a perceptible setback. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Glass Fibres and Glass Fibre Articles in Myanmar

In value terms, glass fibre and article production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible downturn. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Myanmar

After two years of growth, shipments abroad of glass fibres and glass fibre articles decreased by X% to X tons in 2022. Over the period under review, exports, however, posted significant growth. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The exports peaked at X tons in 2021, and then fell rapidly in the following year.

In value terms, glass fibre and article exports shrank significantly to $X in 2022. In general, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then contracted markedly in the following year.

Exports by Country

India (X tons) was the main destination for glass fibre and article exports from Myanmar, accounting for a X% share of total exports. Moreover, glass fibre and article exports to India exceeded the volume sent to the second major destination, the UK (X tons), twofold. The third position in this ranking was taken by Spain (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Spain (X% per year).

In value terms, the largest markets for glass fibre and article exported from Myanmar were India ($X), the UK ($X) and Spain ($X), together comprising X% of total exports.

Among the main countries of destination, the UK, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average glass fibre and article export price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the export price showed a abrupt downturn. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (X%), while the prices for the other major destinations experienced a decline.

Imports of Glass Fibres and Glass Fibre Articles

Imports into Myanmar

In 2022, the amount of glass fibres and glass fibre articles imported into Myanmar was estimated at X tons, increasing by X% on the previous year's figure. Overall, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, glass fibre and article imports contracted slightly to $X in 2022. Over the period under review, imports recorded a significant expansion. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main supplier of glass fibre and article to Myanmar, with a X% share of total imports. Moreover, glass fibre and article imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Malaysia (X% per year).

In value terms, China ($X) constituted the largest supplier of glass fibres and glass fibre articles to Myanmar, comprising X% of total imports. The second position in the ranking was held by Thailand ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the average glass fibre and article import price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the import price recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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