Pakistan: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in Pakistan

The Pakistani glass fibre mat market surged to $X in 2022, with an increase of 21% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed resilient growth. Glass fibre mat consumption peaked in 2022 and is likely to continue growth in the immediate term.

Glass Fibre Mat Exports

Exports from Pakistan

In 2022, after two years of growth, there was significant decline in overseas shipments of glass fibre mats, when their volume decreased by -30.6% to X tons. In general, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 353% against the previous year. The exports peaked at X tons in 2021, and then dropped sharply in the following year.

In value terms, glass fibre mat exports reduced to $X in 2022. Over the period under review, exports, however, saw a prominent increase. The growth pace was the most rapid in 2017 when exports increased by 500%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X tons) was the main destination for glass fibre mat exports from Pakistan, with a 85% share of total exports. Moreover, glass fibre mat exports to the UK exceeded the volume sent to the second major destination, Gambia (X kg), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK stood at +17.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Gambia (+25.9% per year) and Qatar (-13.9% per year).

In value terms, the UK ($X) emerged as the key foreign market for glass fibre mats exports from Pakistan, comprising 94% of total exports. The second position in the ranking was taken by Qatar ($X), with a 4.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK totaled +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+4.8% per year) and Gambia (+15.7% per year).

Export Prices by Country

In 2022, the average glass fibre mat export price amounted to $X per ton, picking up by 33% against the previous year. In general, the export price recorded a measured increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 63%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Gambia ($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 Australia (+79.1%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Mat Imports

Imports into Pakistan

After four years of growth, overseas purchases of glass fibre mats decreased by -13.4% to X tons in 2022. Over the period under review, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 97% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, glass fibre mat imports skyrocketed to $X in 2022. Overall, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 67% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of glass fibre mat to Pakistan, with a 77% share of total imports. Moreover, glass fibre mat imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+75.2% per year) and Taiwan (Chinese) (-19.6% per year).

In value terms, China ($X) constituted the largest supplier of glass fibre mats to Pakistan, comprising 63% of total imports. The second position in the ranking was held by Thailand ($X), with a 31% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+98.5% per year) and Taiwan (Chinese) (-8.2% per year).

Import Prices by Country

In 2022, the average glass fibre mat import price amounted to $X per ton, growing by 58% against the previous year. Overall, the import price showed a buoyant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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