Myanmar: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in Myanmar

The Myanmar's glass fibre fabrics market dropped slightly to $X in 2022, remaining relatively unchanged against the previous year. In general, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.8% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Glass Fibre Fabrics Production in Myanmar

In value terms, glass fibre fabrics production dropped to $X in 2022 estimated in export price. Overall, the total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.6% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 93%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Glass Fibre Fabrics Exports

Exports from Myanmar

In 2021, the amount of glass fibre fabrics exported from Myanmar skyrocketed to X tons, increasing by 1,885% compared with the previous year. In general, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre fabrics exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons), Spain (X tons) and Taiwan (Chinese) (X tons) were the main destinations of glass fibre fabrics exports from Myanmar, together accounting for 18% of total exports.

From 2020 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +5,140.0%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Spain ($X) and Italy ($X) constituted the largest markets for glass fibre fabrics exported from Myanmar worldwide, together accounting for 20% of total exports.

Spain, with a CAGR of +11,853.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average glass fibre fabrics export price amounted to $X per ton, rising by 87% against the previous year. In general, the export price recorded significant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2020 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+128.1%).

Glass Fibre Fabrics Imports

Imports into Myanmar

In 2022, approx. X tons of glass fibre fabrics were imported into Myanmar; growing by 16% compared with 2021. Overall, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 709%. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, glass fibre fabrics imports surged to $X in 2022. In general, imports posted a significant increase. The growth pace was the most rapid in 2020 when imports increased by 282% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibre fabrics supplier to Myanmar, accounting for a 90% share of total imports. Moreover, glass fibre fabrics imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold. The third position in this ranking was taken by Malaysia (X tons), with a 2.1% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +32.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+33.2% per year) and Malaysia (+23.5% per year).

In value terms, China ($X) constituted the largest supplier of glass fibre fabrics to Myanmar, comprising 94% of total imports. The second position in the ranking was held by Thailand ($X), with a 3.5% share of total imports. It was followed by Singapore, with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +31.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+32.8% per year) and Singapore (+39.4% per year).

Import Prices by Country

The average glass fibre fabrics import price stood at $X per ton in 2022, with an increase of 5.7% against the previous year. Over the period under review, the import price, however, recorded a slight contraction. The pace of growth appeared the most rapid in 2013 an increase of 112% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

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 ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+64.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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