Southern 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 Southern Asia

The South Asian market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles stood at $X in 2021, picking up by 2% against the previous year. The total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +72.6% against 2013 indices. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in the immediate term.

Production of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Southern Asia

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles stood at $X in 2021 estimated in export price. The total production indicated a resilient expansion 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, production decreased by -0.3% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 19%. As a result, production reached the peak level of $X; afterwards, it flattened through to 2021.

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

Exports in Southern Asia

Exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles reduced rapidly to X tons in 2021, shrinking by -41% compared with the previous year. Over the period under review, exports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2019 when exports increased by 607%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles fell rapidly to $X in 2021. Overall, exports, however, enjoyed perceptible growth. The most prominent rate of growth was recorded in 2019 when exports increased by 253% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

India prevails in articles structure, amounting to X tons, which was near 98% of total exports in 2021. Sri Lanka (X tons) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to glass fibre filament, roving, and staple glass fibre article exports from India stood at +5.0%. At the same time, Sri Lanka (+29.1%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +29.1% from 2012-2021. While the share of Sri Lanka (+1.6 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest glass fibre filament, roving, and staple glass fibre article supplier in Southern Asia, comprising 96% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a 4.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in India totaled +4.4%.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, jumping by 42% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while India totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+6.3%).

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

Imports in Southern Asia

In 2021, supplies from abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports showed strong growth. The pace of growth was the most pronounced in 2015 with an increase of 51% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles surged to $X in 2021. In general, imports enjoyed a resilient increase. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

India prevails in articles structure, recording X tons, which was approx. 97% of total imports in 2021. Pakistan (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to glass fibre filament, roving, and staple glass fibre article imports into India stood at +11.0%. At the same time, Pakistan (+16.7%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +16.7% from 2012-2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported glass fibre filaments, rovings, chopped strands, and staple glass fibre articles in Southern Asia, comprising 93% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 3.1% share of total imports.

In India, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles expanded at an average annual rate of +10.7% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, rising by 30% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Pakistan ($X per ton), while India amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-0.3%).

Source: IndexBox Platform

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