South-Eastern Asia: Market for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles 2024

Market Size for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in South-Eastern Asia

In 2021, the Southeast Asian market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles was finally on the rise to reach $X after three years of decline. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in South-Eastern Asia

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles dropped to $X in 2021 estimated in export price. The total production indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by +0.1% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of 26% against the previous year. Over the period under review, production of hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Exports in South-Eastern Asia

In 2021, shipments abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased by 30% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +36.9% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 31% against the previous year. Over the period under review, the exports of attained the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles skyrocketed to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.7% 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 reached 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 filaments, rovings, chopped strands, and staple glass fibre articles, namely Malaysia, represented more than two-thirds of total export.

Malaysia was also the fastest-growing in terms of the glass fibre filaments, rovings, chopped strands, and staple glass fibre articles exports, with a CAGR of +6.8% from 2012 to 2021. From 2012 to 2021, the share of Malaysia increased by +1.8 percentage points, 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, roving, and staple glass fibre article supplier in South-Eastern Asia.

From 2012 to 2021, the average annual growth rate of value in Malaysia stood at +6.3%.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, surging by 13% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a 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 -0.5% per year.

Imports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Imports in South-Eastern Asia

In 2021, purchases abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +4.0% 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.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles surged to $X in 2021. The total import value increased at an average annual rate of +2.3% 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 attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Thailand (X tons) was the main importer of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles, creating 51% of total imports. Malaysia (X tons) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (12%) and Indonesia (9.9%). The following importers - Singapore (X tons) and Myanmar (X tons) - together made up 5% of total imports.

Imports into Thailand increased at an average annual rate of +8.3% from 2012 to 2021. At the same time, Myanmar (+30.7%) and Vietnam (+9.9%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +30.7% from 2012-2021. Indonesia experienced a relatively flat trend pattern. By contrast, Malaysia (-2.0%) and Singapore (-4.0%) illustrated a downward trend over the same period. While the share of Thailand (+16 p.p.), Vietnam (+4.7 p.p.) and Myanmar (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Singapore (-3.2 p.p.), Indonesia (-3.4 p.p.) and Malaysia (-14.5 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) constitutes the largest market for imported glass fibre filaments, rovings, chopped strands, and staple glass fibre articles in South-Eastern Asia, comprising 50% of total imports. The second position in the ranking was held by Malaysia ($X), with a 17% share of total imports. It was followed by Vietnam, with a 14% share.

In Thailand, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles expanded at an average annual rate of +6.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (-4.2% per year) and Vietnam (+8.6% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, jumping by 21% against the previous year. In general, the import price, however, recorded a mild curtailment. Over the period under review, import prices hit record highs 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 Vietnam ($X per ton) and Singapore ($X per ton), while Malaysia ($X per ton) and Myanmar ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (-1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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