Serbia: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in Serbia

The Serbian glass fibre fabrics market rose remarkably to $X in 2022, with an increase of 6.2% 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, the total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.7% against 2020 indices. Glass fibre fabrics consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Glass Fibre Fabrics Exports

Exports from Serbia

In 2022, shipments abroad of glass fibre fabrics decreased by -9.5% to X tons for the first time since 2014, thus ending a seven-year rising trend. Overall, exports, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2019 when exports increased by 106%. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, glass fibre fabrics exports shrank to $X in 2022. In general, exports, however, continue to indicate prominent growth. The growth pace was the most rapid in 2019 with an increase of 90%. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Hungary (X tons), Poland (X tons) and Slovakia (X tons) were the main destinations of glass fibre fabrics exports from Serbia, with a combined 66% share of total exports. Bosnia and Herzegovina, Montenegro, Romania, Slovenia, North Macedonia and Albania lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovenia (with a CAGR of +83.2%), while the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Poland ($X) and Slovakia ($X) constituted the largest markets for glass fibre fabrics exported from Serbia worldwide, with a combined 66% share of total exports. Bosnia and Herzegovina, Montenegro, Romania, Slovenia, North Macedonia and Albania lagged somewhat behind, together comprising a further 30%.

Slovenia, with a CAGR of +63.7%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average glass fibre fabrics export price stood at $X per ton in 2022, declining by -4.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2013 when the average export price increased by 14%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Albania ($X per ton) and Romania ($X per ton), while the average price for exports to North Macedonia ($X per ton) and Slovenia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Fabrics Imports

Imports into Serbia

Glass fibre fabrics imports into Serbia expanded notably to X tons in 2022, growing by 8.6% compared with the previous year. In general, total imports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -5.9% against 2020 indices. The growth pace was the most rapid in 2015 when imports increased by 35%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, glass fibre fabrics imports fell slightly to $X in 2022. Overall, imports enjoyed a tangible increase. The pace of growth was the most pronounced in 2015 with an increase of 33% against the previous year. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of glass fibre fabrics to Serbia, accounting for a 45% share of total imports. Moreover, glass fibre fabrics imports from China exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), threefold. The third position in this ranking was held by Slovakia (X tons), with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+17.9% per year) and Slovakia (+20.1% per year).

In value terms, China ($X) constituted the largest supplier of glass fibre fabrics to Serbia, comprising 33% of total imports. The second position in the ranking was held by the Czech Republic ($X), with an 11% share of total imports. It was followed by Germany, with a 7% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+18.8% per year) and Germany (+9.0% per year).

Import Prices by Country

The average glass fibre fabrics import price stood at $X per ton in 2022, waning by -12% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 26% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

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 Italy ($X per ton), while the price for Croatia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform