Puerto Rico: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Puerto Rico

The Puerto Rican glass fibre and article market expanded rapidly to $X in 2021, increasing by 11% against the previous year. In general, consumption, however, continues to indicate a slight slump. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Glass Fibres and Glass Fibre Articles in Puerto Rico

In value terms, glass fibre and article production expanded sharply to $X in 2021 estimated in export price. In general, production, however, saw a pronounced decrease. The most prominent rate of growth was recorded in 2014 when the production volume increased by 18% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Puerto Rico

In 2021, approx. less than X kg of glass fibres and glass fibre articles were exported from Puerto Rico; remaining constant against 2020 figures. In general, exports showed a relatively flat trend pattern.

In value terms, glass fibre and article exports amounted to less than $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern.

Exports by Country

In 2021, China (X tons) represented the main exporter of glass fibres and glass fibre articles, constituting 29% of total exports. Belgium (X tons) took a 7.7% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (7.4%). France (X tons), Egypt (X tons), Germany (X tons), the United States (X tons), the Czech Republic (X tons), Taiwan (Chinese) (X tons), the UK (X tons), Mexico (X tons), the Netherlands (X tons) and Slovakia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to glass fibre and article exports from China stood at +3.9%. At the same time, Egypt (+34.5%), Malaysia (+6.6%), the UK (+6.1%), Taiwan (Chinese) (+5.8%), Germany (+3.9%), the Czech Republic (+3.8%), Slovakia (+3.8%), Mexico (+3.8%), the Netherlands (+3.5%), Belgium (+3.5%) and France (+3.3%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in the world, with a CAGR of +34.5% from 2012-2021. By contrast, the United States (-6.5%) illustrated a downward trend over the same period. Egypt (+3.6 p.p.) and Malaysia (+1.6 p.p.) significantly strengthened its position in terms of the global exports, while the United States saw its share reduced by -5.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest glass fibre and article supplier from Puerto Rico, comprising 21% of global exports. The second position in the ranking was taken by the United States ($X), with a 9.3% share of global exports. It was followed by Germany, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +5.4%. In the other countries, the average annual rates were as follows: the United States (+1.1% per year) and Germany (+4.8% per year).

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, approximately mirroring the previous year. Over the period under review, the export price saw a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Malaysia ($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 (+8.1%), while the other leaders experienced more modest paces of growth.

Imports of Glass Fibres and Glass Fibre Articles

Imports into Puerto Rico

In 2021, approx. less than X kg of glass fibres and glass fibre articles were imported into Puerto Rico; flattening at 2020. Overall, imports showed a relatively flat trend pattern.

In value terms, glass fibre and article imports totaled less than $X in 2021. Over the period under review, imports showed a relatively flat trend pattern.

Imports by Country

Germany (X tons) and the United States (X tons) represented roughly 19% of total imports in 2021. France (X tons) took the next position in the ranking, followed by Turkey (X tons). All these countries together held approx. 12% share of total imports. South Korea (X tons), Italy (X tons), Belgium (X tons), Mexico (X tons), China (X tons), Japan (X tons), India (X tons), the Netherlands (X tons) and Poland (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Turkey (with a CAGR of +16.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and China ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 26% of total imports. These countries were followed by France, Mexico, South Korea, Turkey, Italy, Japan, Poland, Belgium, the Netherlands and India, which together accounted for a further 34%.

In terms of the main importing countries, Turkey, with a CAGR of +14.2%, recorded the highest rates of growth with regard to 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

In 2021, the import price in Puerto Rico amounted to less than $X per ton, remaining constant against the previous year. Over the period under review, the import price saw a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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