South-Eastern Asia: Glass Fibre Filament Market 2024

Glass Fibre Filament Market Size in South-Eastern Asia

The Southeast Asian glass fibre filament market dropped to $X in 2021, waning by -5.1% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Glass Fibre Filament Production in South-Eastern Asia

In value terms, glass fibre filament production shrank modestly to $X in 2021 estimated in export price. Overall, production, however, recorded a noticeable decrease. The growth pace was the most rapid in 2016 when the production volume increased by 43% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Glass Fibre Filament Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of glass fibre filaments were finally on the rise to reach X tons after two years of decline. Overall, exports saw a resilient expansion. The growth pace was the most rapid in 2015 with an increase of 71%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, glass fibre filament exports soared to $X in 2021. In general, exports, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2017 when exports increased by 50% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of glass fibre filaments, namely Malaysia, represented more than two-thirds of total export.

Malaysia was also the fastest-growing in terms of the glass fibre filaments exports, with a CAGR of +29.5% from 2012 to 2021. Malaysia (+82 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) also remains the largest glass fibre filament supplier in South-Eastern Asia.

In Malaysia, glass fibre filament exports increased at an average annual rate of +24.0% over the period from 2012-2021.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, growing by 24% against the previous year. Overall, the export price, however, continues to indicate a deep contraction. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Malaysia.

From 2012 to 2021, the rate of growth in terms of prices for Malaysia amounted to -4.3% per year.

Glass Fibre Filament Imports

Imports in South-Eastern Asia

In 2021, purchases abroad of glass fibre filaments decreased by -8.8% to X tons, falling for the second consecutive year after four years of growth. Total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -14.0% against 2019 indices. The pace of growth was the most pronounced in 2018 when imports increased by 17% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, glass fibre filament imports soared to $X in 2021. The total import value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Thailand (X tons) represented the largest importer of glass fibre filaments, making up 52% of total imports. Malaysia (X tons) ranks second in terms of the total imports with a 21% share, followed by Indonesia (12%) and Vietnam (12%).

Imports into Thailand increased at an average annual rate of +14.8% from 2012 to 2021. At the same time, Vietnam (+21.5%) and Indonesia (+2.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +21.5% from 2012-2021. By contrast, Malaysia (-4.7%) illustrated a downward trend over the same period. Thailand (+29 p.p.) and Vietnam (+8.7 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia and Malaysia saw its share reduced by -2.7% and -29.5% from 2012 to 2021, respectively.

In value terms, Thailand ($X) constitutes the largest market for imported glass fibre filaments in South-Eastern Asia, comprising 55% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 19% share of total imports. It was followed by Vietnam, with a 12% share.

In Thailand, glass fibre filament imports increased at an average annual rate of +11.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (-8.5% per year) and Vietnam (+18.0% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, picking up by 37% against the previous year. Overall, the import price, however, showed a noticeable setback. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Thailand ($X per ton) and Vietnam ($X per ton), while Malaysia ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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