South-Eastern Asia: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in South-Eastern Asia

The Southeast Asian glass fibre chopped strand market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Glass Fibre Chopped Strands in South-Eastern Asia

In value terms, glass fibre chopped strand production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 23% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Glass Fibre Chopped Strands

Exports in South-Eastern Asia

In 2021, overseas shipments of glass fibre chopped strands increased by 30% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +37.6% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of 31%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, glass fibre chopped strand exports skyrocketed to $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

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

Malaysia was also the fastest-growing in terms of the glass fibre chopped strands exports, with a CAGR of +6.6% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

In Malaysia, glass fibre chopped strand exports expanded at an average annual rate of +6.1% over the period from 2012-2021.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, picking up by 13% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. 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 failed to regain momentum.

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 -0.5% per year.

Imports of Glass Fibre Chopped Strands

Imports in South-Eastern Asia

In 2021, overseas purchases of glass fibre chopped strands were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre chopped strand imports soared to $X in 2021. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand represented the largest importer of glass fibre chopped strands in South-Eastern Asia, with the volume of imports finishing at X tons, which was near 53% of total imports in 2021. Malaysia (X tons) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (8.5%), Indonesia (8%) and Singapore (6.7%). Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to glass fibre chopped strand imports into Thailand stood at +7.4%. At the same time, Myanmar (+27.6%), Vietnam (+4.2%), Singapore (+4.2%), Indonesia (+2.6%) and Malaysia (+1.1%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +27.6% from 2012-2021. While the share of Thailand (+9.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Indonesia (-1.9 p.p.) and Malaysia (-8.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported glass fibre chopped strands in South-Eastern Asia, comprising 51% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 21% share of total imports. It was followed by Vietnam, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand totaled +6.4%. In the other countries, the average annual rates were as follows: Malaysia (+1.4% per year) and Vietnam (+3.0% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, with an increase of 6% against the previous year. Over the period under review, the import price, however, saw a slight decrease. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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