South Africa: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in South Africa

In 2021, the South African glass fibre chopped strand market was finally on the rise to reach $X after two years of decline. In general, consumption posted buoyant growth. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Exports of Glass Fibre Chopped Strands

Exports from South Africa

Glass fibre chopped strand exports from South Africa surged to X tons in 2021, growing by 409% compared with 2020. Over the period under review, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre chopped strand exports skyrocketed to $X in 2021. In general, exports posted a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of 98% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

Exports by Country

Israel (X tons) was the main destination for glass fibre chopped strand exports from South Africa, with a 70% share of total exports. Moreover, glass fibre chopped strand exports to Israel exceeded the volume sent to the second major destination, Zimbabwe (X tons), fourfold. Namibia (X tons) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Israel was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Zimbabwe (+43.8% per year) and Namibia (+64.4% per year).

In value terms, the largest markets for glass fibre chopped strand exported from South Africa were Zimbabwe ($X), Malaysia ($X) and Namibia ($X), with a combined 87% share of total exports.

Among the main countries of destination, Namibia, with a CAGR of +52.8%, saw the highest rates of growth with regard to 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 average glass fibre chopped strand export price amounted to $X per ton, dropping by -68% against the previous year. Over the period under review, the export price showed a deep setback. The growth pace was the most rapid in 2016 an increase of 88% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Israel ($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 Madagascar (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibre Chopped Strands

Imports into South Africa

In 2021, purchases abroad of glass fibre chopped strands increased by 54% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports saw a resilient increase. The growth pace was the most rapid in 2018 with an increase of 91% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, glass fibre chopped strand imports skyrocketed to $X in 2021. In general, imports continue to indicate a strong expansion. As a result, imports reached 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 fibre chopped strand to South Africa, accounting for a 83% share of total imports. Moreover, glass fibre chopped strand imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), tenfold. The third position in this ranking was taken by Australia (X tons), with a 4% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+51.0% per year) and Australia (+34.4% per year).

In value terms, China ($X) constituted the largest supplier of glass fibre chopped strands to South Africa, comprising 79% of total imports. The second position in the ranking was held by South Korea ($X), with a 9.7% share of total imports. It was followed by Australia, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+53.6% per year) and Australia (+25.0% per year).

Import Prices by Country

The average glass fibre chopped strand import price stood at $X per ton in 2021, surging by 24% against the previous year. Over the period under review, the import price saw a slight expansion. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 Belgium ($X per ton), while the price for France ($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 Netherlands (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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