Southern Asia: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Southern Asia

In 2022, the South Asian glass fibre and article market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of X%. The level of consumption peaked at $X in 2018; afterwards, it flattened through to 2022.

Production of Glass Fibres and Glass Fibre Articles in Southern Asia

In value terms, glass fibre and article production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Glass Fibres and Glass Fibre Articles

Exports in Southern Asia

After three years of growth, overseas shipments of glass fibres and glass fibre articles decreased by X% to X tons in 2022. In general, exports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, glass fibre and article exports declined to $X in 2022. Over the period under review, exports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2021, and then fell in the following year.

Exports by Country

The biggest shipments were from India (X tons), together amounting to X% of total export.

India was also the fastest-growing in terms of the glass fibres and glass fibre articles exports, with a CAGR of X% from 2012 to 2022. From 2012 to 2022, the share of India increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest glass fibre and article supplier in Southern Asia.

From 2012 to 2022, the average annual growth rate of value in India stood at X%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, 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 India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to X% per year.

Imports of Glass Fibres and Glass Fibre Articles

Imports in Southern Asia

In 2022, purchases abroad of glass fibres and glass fibre articles increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports recorded a strong increase. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, glass fibre and article imports expanded notably to $X in 2022. Overall, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

India dominates imports structure, accounting for X tons, which was near X% of total imports in 2022. The following importers - Pakistan (X tons) and Bangladesh (X tons) - each accounted for a X% share of total imports.

Imports into India increased at an average annual rate of X% from 2012 to 2022. At the same time, Bangladesh (X%) and Pakistan (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. While the share of India (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Pakistan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported glass fibres and glass fibre articles in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Pakistan ($X), with a X% share of total imports.

In India, glass fibre and article imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (X% per year) and Bangladesh (X% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, 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 Bangladesh ($X per ton), while India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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