Pakistan: Glass Fiber Market 2024

Glass Fiber Market Size in Pakistan

In 2021, the Pakistani glass fiber market increased by 29% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption saw a remarkable increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Glass Fiber Exports

Exports from Pakistan

Glass fiber exports from Pakistan shrank to X tons in 2021, which is down by -7.9% compared with the previous year's figure. Overall, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 259% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, glass fiber exports shrank sharply to $X in 2021. In general, exports recorded a drastic downturn. The growth pace was the most rapid in 2018 when exports increased by 292% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Oman (X tons) was the main destination for glass fiber exports from Pakistan, accounting for a 65% share of total exports. Moreover, glass fiber exports to Oman exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The UK (X kg) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2021, the average annual growth rate of volume to Oman stood at +31.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+26.1% per year) and the UK (-9.1% per year).

In value terms, Oman ($X) remains the key foreign market for voiles, webs, mats and other articles of glass fibers exports from Pakistan, comprising 54% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 14% share of total exports. It was followed by the UK, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Oman stood at +35.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+23.5% per year) and the UK (-32.1% per year).

Export Prices by Country

The average glass fiber export price stood at $X per ton in 2021, with a decrease of -11.4% against the previous year. Over the period under review, the export price continues to indicate a perceptible slump. The pace of growth appeared the most rapid in 2018 when the average export price increased by 9.4% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Senegal (+193.6%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fiber Imports

Imports into Pakistan

In 2021, purchases abroad of voiles, webs, mats and other articles of glass fibers increased by 52% to X tons, rising for the second year in a row after two years of decline. Overall, imports recorded buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass fiber imports soared to $X in 2021. Over the period under review, imports enjoyed a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of glass fiber to Pakistan, accounting for a 49% share of total imports. Moreover, glass fiber imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. The third position in this ranking was taken by Japan (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+10.1% per year) and Japan (+5.9% per year).

In value terms, China ($X), Thailand ($X) and Japan ($X) constituted the largest glass fiber suppliers to Pakistan, together accounting for 79% of total imports. Taiwan (Chinese), Kuwait, Saudi Arabia and the United Arab Emirates lagged somewhat behind, together accounting for a further 10%.

Among the main suppliers, the United Arab Emirates, with a CAGR of +39.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glass fiber import price stood at $X per ton in 2021, waning by -18.8% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 16%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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