Puerto Rico: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in Puerto Rico

In 2021, the Puerto Rican glass fibre chopped strand market was finally on the rise to reach $X for the first time since 2015, thus ending a five-year declining trend. Over the period under review, consumption, however, recorded a mild descent. Puerto Rico consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Production of Glass Fibre Chopped Strands in Puerto Rico

In value terms, glass fibre chopped strand production expanded remarkably to $X in 2021 estimated in export price. Overall, production, however, recorded a mild decrease. The growth pace was the most rapid in 2013 with an increase of 35% against the previous year. Puerto Rico production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Exports of Glass Fibre Chopped Strands

Exports from Puerto Rico

In 2021, the amount of glass fibre chopped strands exported from Puerto Rico amounted to less than X kg, remaining relatively unchanged against 2020 figures. Overall, exports recorded a relatively flat trend pattern.

In value terms, glass fibre chopped strand exports amounted to less than $X in 2021. In general, exports continue to indicate a relatively flat trend pattern.

Exports by Country

In 2021, Malaysia (X tons), distantly followed by China (X tons), Belgium (X tons), France (X tons), the Netherlands (X tons) and Slovakia (X tons) represented the main exporters of glass fibre chopped strands, together committing 85% of total exports. South Korea (X tons), Taiwan (Chinese) (X tons) and the United States (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by South Korea (with a CAGR of +13.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibre chopped strand supplying countries from Puerto Rico were Malaysia ($X), Belgium ($X) and China ($X), with a combined 60% share of total exports. These countries were followed by the Netherlands, France, Slovakia, the United States, South Korea and Taiwan (Chinese), which together accounted for a further 30%.

Among the main exporting countries, South Korea, with a CAGR of +13.9%, saw 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

In 2021, the export price in Puerto Rico amounted to less than $X per ton, remaining stable against the previous year. In general, the export price saw a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.0%), while the other leaders experienced more modest paces of growth.

Imports of Glass Fibre Chopped Strands

Imports into Puerto Rico

In 2021, the amount of glass fibre chopped strands imported into Puerto Rico stood at less than X kg, remaining constant against the year before. Over the period under review, imports recorded a relatively flat trend pattern.

In value terms, glass fibre chopped strand imports stood at less than $X in 2021. In general, imports continue to indicate a relatively flat trend pattern.

Imports by Country

In 2021, Germany (X tons), distantly followed by the Netherlands (X tons), Italy (X tons), South Korea (X tons), Japan (X tons), Belgium (X tons), China (X tons) and the United States (X tons) represented the major importers of glass fibre chopped strands, together creating 66% of total imports. The following importers - India (X tons), France (X tons), Switzerland (X tons), Thailand (X tons) and Poland (X tons) - together made up 14% of total imports.

From 2012 to 2021, average annual rates of growth with regard to glass fibre chopped strand imports into Germany stood at +3.4%. At the same time, India (+13.1%), Belgium (+11.8%), Japan (+11.7%), Switzerland (+10.0%), the Netherlands (+8.2%), Poland (+7.7%), Italy (+7.7%), Thailand (+7.4%), South Korea (+6.5%), France (+3.6%) and China (+1.5%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +13.1% from 2012-2021. The United States experienced a relatively flat trend pattern. Japan (+2.4 p.p.), Belgium (+2.4 p.p.), India (+1.8 p.p.) and the Netherlands (+1.7 p.p.) significantly strengthened its position in terms of the global imports, while China, the United States and Germany saw its share reduced by -2.5%, -3.3% and -4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported glass fibre chopped strands into Puerto Rico, comprising 19% of global imports. The second position in the ranking was held by the Netherlands ($X), with an 8.2% share of global imports. It was followed by China, with a 7.4% share.

In Germany, glass fibre chopped strand imports expanded at an average annual rate of +1.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the Netherlands (+6.4% per year) and China (+1.2% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, remaining constant against the previous year. Over the period under review, the import price showed a relatively flat trend pattern.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in China ($X per ton) and Switzerland ($X per ton), while Japan ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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