Peru: Glass Fiber Market 2024

Glass Fiber Market Size in Peru

In 2021, the Peruvian glass fiber market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, saw a noticeable shrinkage. Glass fiber consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Glass Fiber Exports

Exports from Peru

Glass fiber exports from Peru shrank to X tons in 2021, with a decrease of -11.6% on 2020. Overall, exports, however, showed a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of 1,056% against the previous year. The exports peaked at X tons in 2020, and then reduced in the following year.

In value terms, glass fiber exports surged to $X in 2021. In general, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 1,335%. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Chile (X tons) was the main destination for glass fiber exports from Peru, accounting for a 87% share of total exports. Moreover, glass fiber exports to Chile exceeded the volume sent to the second major destination, Colombia (X tons), eightfold. Bolivia (X tons) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2021, the average annual growth rate of volume to Chile amounted to +24.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+19.9% per year) and Bolivia (+1.4% per year).

In value terms, Chile ($X) remains the key foreign market for voiles, webs, mats and other articles of glass fibers exports from Peru, comprising 98% of total exports. The second position in the ranking was held by Colombia ($X), with a 1.1% share of total exports. It was followed by Bolivia, with a 0.5% share.

From 2012 to 2021, the average annual growth rate of value to Chile stood at +52.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+14.9% per year) and Bolivia (+10.9% per year).

Export Prices by Country

In 2021, the average glass fiber export price amounted to $X per ton, rising by 33% against the previous year. Overall, the export price saw a buoyant increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 73% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Colombia ($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 Chile (+22.3%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fiber Imports

Imports into Peru

In 2021, purchases abroad of voiles, webs, mats and other articles of glass fibers increased by 18% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, saw a abrupt curtailment. The growth pace was the most rapid in 2018 with an increase of 50%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, glass fiber imports expanded to $X in 2021. Over the period under review, imports, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2014 when imports increased by 33% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of glass fiber to Peru, with a 49% share of total imports. Moreover, glass fiber imports from China exceeded the figures recorded by the second-largest supplier, Colombia (X tons), twofold. Mexico (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-5.8% per year) and Mexico (-14.8% per year).

In value terms, China ($X) constituted the largest supplier of voiles, webs, mats and other articles of glass fibers to Peru, comprising 38% of total imports. The second position in the ranking was taken by the United States ($X), with an 18% share of total imports. It was followed by Colombia, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.1% per year) and Colombia (-4.2% per year).

Import Prices by Country

In 2021, the average glass fiber import price amounted to $X per ton, with a decrease of -12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2020 when the average import price increased by 33%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+20.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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