South-Eastern Asia: Glass Fiber Market 2024

Glass Fiber Market Size in South-Eastern Asia

The Southeast Asian glass fiber market amounted to $X in 2021, increasing by 11% against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Glass Fiber Production in South-Eastern Asia

In value terms, glass fiber production expanded notably to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 28%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Glass Fiber Exports

Exports in South-Eastern Asia

Glass fiber exports was estimated at X tons in 2021, picking up by 13% compared with the year before. Total exports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when exports increased by 25%. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, glass fiber exports rose remarkably to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 50% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons) and Thailand (X tons) dominates exports structure, together comprising 81% of total exports. It was distantly followed by Singapore (X tons), Myanmar (X tons) and Vietnam (X tons), together mixing up a 15% share of total exports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +222.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fiber supplying countries in South-Eastern Asia were Malaysia ($X), Thailand ($X) and Vietnam ($X), together accounting for 78% of total exports. These countries were followed by Singapore, the Philippines and Myanmar, which together accounted for a further 20%.

Myanmar, with a CAGR of +196.4%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, dropping by -3.7% against the previous year. In general, the export price saw a slight contraction. The growth pace was the most rapid in 2014 when the export price increased by 25% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+10.7%), while the other leaders experienced more modest paces of growth.

Glass Fiber Imports

Imports in South-Eastern Asia

In 2021, approx. X tons of voiles, webs, mats and other articles of glass fibers were imported in South-Eastern Asia; increasing by 11% on the year before. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 20% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, glass fiber imports soared to $X in 2021. Total imports indicated resilient growth 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. Based on 2021 figures, imports increased by +63.3% against 2016 indices. The pace of growth was the most pronounced in 2014 when imports increased by 21%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Vietnam (X tons), distantly followed by Indonesia (X tons), Thailand (X tons), Malaysia (X tons), the Philippines (X tons) and Singapore (X tons) were the major importers of voiles, webs, mats and other articles of glass fibers, together creating 96% of total imports. Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +26.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fiber importing markets in South-Eastern Asia were Vietnam ($X), Thailand ($X) and Indonesia ($X), together accounting for 66% of total imports. Singapore, Malaysia, the Philippines and Myanmar lagged somewhat behind, together comprising a further 32%.

Myanmar, with a CAGR of +20.3%, saw 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

In 2021, the import price in South-Eastern Asia amounted to $X per ton, with an increase of 7.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2018 when the import price increased by 13% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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