South Africa: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in South Africa

The South African glass fibres and wool market declined slightly to $X in 2022, falling by -4.5% against the previous year. Over the period under review, consumption showed a perceptible contraction. Glass fibres and wool consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Glass Fibres And Glass Wool in South Africa

In value terms, glass fibres and wool production shrank to $X in 2022 estimated in export price. In general, production recorded a perceptible decrease. The growth pace was the most rapid in 2014 when the production volume increased by 22%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Glass Fibres And Glass Wool

Exports from South Africa

In 2022, shipments abroad of glass fibres and glass wool increased by 59% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, saw a noticeable downturn. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, glass fibres and wool exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a noticeable curtailment. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Poland (X tons), Zimbabwe (X tons) and Zambia (X tons) were the main destinations of glass fibres and wool exports from South Africa, together comprising 35% of total exports. Namibia, Botswana, Australia, Mozambique, Madagascar, Democratic Republic of the Congo, Croatia, Seychelles, the United States and Denmark lagged somewhat behind, together accounting for a further 51%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Seychelles (with a CAGR of +118.2%), while the other leaders experienced more modest paces of growth.

In value terms, Madagascar ($X), Zambia ($X) and Namibia ($X) appeared to be the largest markets for glass fibres and wool exported from South Africa worldwide, with a combined 33% share of total exports. Democratic Republic of the Congo, Australia, Poland, Zimbabwe, Mozambique, the United States, Botswana, Croatia, Seychelles and Denmark lagged somewhat behind, together accounting for a further 50%.

Seychelles, with a CAGR of +112.2%, recorded the highest growth rate of the value of exports, in terms of 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 fibres and wool export price stood at $X per ton in 2022, picking up by 27% against the previous year. Overall, the export price, however, continues to indicate a mild reduction. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Madagascar ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into South Africa

Glass fibres and wool imports into South Africa fell to X tons in 2022, reducing by -4.3% compared with the year before. The total import volume increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 63% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, glass fibres and wool imports skyrocketed to $X in 2022. In general, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +9.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +91.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 57%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of glass fibres and wool to South Africa, with a 56% share of total imports. Moreover, glass fibres and wool imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by the UK (X tons), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.4% per year) and the UK (+11.1% per year).

In value terms, the largest glass fibres and wool suppliers to South Africa were China ($X), Germany ($X) and Costa Rica ($X), together comprising 60% of total imports.

In terms of the main suppliers, Costa Rica, with a CAGR of +79.8%, 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

The average glass fibres and wool import price stood at $X per ton in 2022, picking up by 28% against the previous year. Overall, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass fibres and wool import price increased by +82.0% against 2019 indices. The growth pace was the most rapid in 2017 when the average import price increased by 35% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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