South-Eastern Asia: Safety Glass Market 2024

Safety Glass Market Size in South-Eastern Asia

The Southeast Asian safety glass market expanded modestly to $X in 2022, increasing by 2.8% against the previous year. The total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +3.2% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Safety Glass Production in South-Eastern Asia

In value terms, safety glass production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 28% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Safety Glass Exports

Exports in South-Eastern Asia

After three years of growth, overseas shipments of safety glass decreased by -0.7% to X square meters in 2022. Overall, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 162%. Over the period under review, the exports reached the maximum at X square meters in 2021, and then declined modestly in the following year.

In value terms, safety glass exports contracted markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2017 when exports increased by 102% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped significantly in the following year.

Exports by Country

Malaysia was the main exporting country with an export of around X square meters, which resulted at 62% of total exports. Vietnam (X square meters) ranks second in terms of the total exports with a 29% share, followed by Thailand (7.5%). Indonesia (X square meters) took a minor share of total exports.

Exports from Malaysia increased at an average annual rate of +30.8% from 2012 to 2022. At the same time, Vietnam (+51.9%) and Thailand (+1.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +51.9% from 2012-2022. By contrast, Indonesia (-6.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia and Vietnam increased by +36 and +26 percentage points, respectively.

In value terms, Malaysia ($X) remains the largest safety glass supplier in South-Eastern Asia, comprising 55% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 26% share of total exports. It was followed by Thailand, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Malaysia totaled +25.0%. In the other countries, the average annual rates were as follows: Vietnam (+44.3% per year) and Thailand (-1.8% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per square meter in 2022, shrinking by -17.2% against the previous year. Overall, the export price saw a abrupt descent. The pace of growth was the most pronounced in 2014 an increase of 15%. As a result, the export price attained the peak level of $X per square meter. From 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per square meter), while Malaysia ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.9%), while the other leaders experienced a decline in the export price figures.

Safety Glass Imports

Imports in South-Eastern Asia

In 2022, safety glass imports in South-Eastern Asia soared to X square meters, rising by 27% against the year before. In general, imports posted significant growth. The growth pace was the most rapid in 2016 when imports increased by 80%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, safety glass imports fell significantly to $X in 2022. Overall, imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of 50% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

Vietnam represented the key importing country with an import of around X square meters, which resulted at 55% of total imports. Thailand (X square meters) took the second position in the ranking, distantly followed by Malaysia (X square meters). All these countries together held near 36% share of total imports. Singapore (X square meters), Indonesia (X square meters), Cambodia (X square meters) and the Philippines (X square meters) held a minor share of total imports.

Vietnam was also the fastest-growing in terms of the safety glass imports, with a CAGR of +59.0% from 2012 to 2022. At the same time, Cambodia (+43.8%), Thailand (+32.0%), Malaysia (+13.2%) and Indonesia (+12.3%) displayed positive paces of growth. The Philippines experienced a relatively flat trend pattern. By contrast, Singapore (-3.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Thailand increased by +51 and +13 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest safety glass importing markets in South-Eastern Asia were Vietnam ($X), Thailand ($X) and Malaysia ($X), together accounting for 82% of total imports. Singapore, Indonesia, the Philippines and Cambodia lagged somewhat behind, together accounting for a further 17%.

Cambodia, with a CAGR of +41.6%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per square meter in 2022, waning by -39.2% against the previous year. In general, the import price showed a abrupt downturn. The pace of growth was the most pronounced in 2021 when the import price increased by 11% against the previous year. Over the period under review, import prices reached the peak figure at $X per square meter in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per square meter), while Vietnam ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+5.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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