South-Eastern Asia: Worked Flat Glass Market 2024

Worked Flat Glass Market Size in South-Eastern Asia

In 2021, after two years of decline, there was significant growth in the Southeast Asian worked flat glass market, when its value increased by 34% to $X. The market value increased at an average annual rate of +5.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Worked Flat Glass Production in South-Eastern Asia

In value terms, worked flat glass production rose markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2018 with an increase of 15% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Worked Flat Glass Exports

Exports in South-Eastern Asia

In 2021, shipments abroad of worked flat glass increased by 38% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports posted a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of 159% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, worked flat glass exports soared to $X in 2021. Overall, exports recorded a buoyant expansion. The pace of growth was the most pronounced in 2015 with an increase of 94% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Singapore dominates exports structure, accounting for X tons, which was approx. 93% of total exports in 2021. It was distantly followed by Malaysia (X tons), comprising a 5.6% share of total exports.

Singapore was also the fastest-growing in terms of the worked flat glass exports, with a CAGR of +16.1% from 2012 to 2021. At the same time, Malaysia (+1.8%) displayed positive paces of growth. Singapore (+16 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -9.6% from 2012 to 2021, respectively.

In value terms, Singapore ($X) remains the largest worked flat glass supplier in South-Eastern Asia, comprising 70% of total exports. The second position in the ranking was held by Malaysia ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Singapore stood at +15.1%.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, reducing by -3.8% against the previous year. Overall, the export price showed a abrupt decline. The most prominent rate of growth was recorded in 2017 an increase of 30%. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Singapore amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-0.9%).

Worked Flat Glass Imports

Imports in South-Eastern Asia

In 2021, supplies from abroad of worked flat glass increased by 136% to X tons, rising for the second year in a row after two years of decline. In general, imports posted a strong expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 167% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, worked flat glass imports surged to $X in 2021. Over the period under review, imports recorded a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Singapore represented the major importing country with an import of about X tons, which resulted at 78% of total imports. Vietnam (X tons) ranks second in terms of the total imports with a 15% share, followed by Malaysia (5.2%).

From 2012 to 2021, average annual rates of growth with regard to worked flat glass imports into Singapore stood at +6.7%. At the same time, Vietnam (+55.4%) and Malaysia (+10.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +55.4% from 2012-2021. While the share of Vietnam (+15 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Singapore (-14 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported worked flat glass in South-Eastern Asia, comprising 69% of total imports. The second position in the ranking was held by Vietnam ($X), with a 14% share of total imports.

In Singapore, worked flat glass imports expanded at an average annual rate of +5.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Vietnam (+42.9% per year) and Malaysia (+7.7% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, waning by -10.6% against the previous year. Over the period under review, the import price showed a pronounced decline. The most prominent rate of growth was recorded in 2018 an increase of 84%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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