Southern Asia: Glass Fiber Market 2024

Glass Fiber Market Size in Southern Asia

In 2021, the South Asian glass fiber market decreased by -2.7% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2020, and then contracted in the following year.

Glass Fiber Production in Southern Asia

In value terms, glass fiber production declined to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 27%. The level of production peaked at $X in 2020, and then declined modestly in the following year.

Glass Fiber Exports

Exports in Southern Asia

In 2021, overseas shipments of voiles, webs, mats and other articles of glass fibers increased by 48% to X tons, rising for the fifth year in a row after two years of decline. In general, exports saw a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass fiber exports skyrocketed to $X in 2021. Over the period under review, exports posted a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from India (X tons), together reaching 98% of total export.

India was also the fastest-growing in terms of the voiles, webs, mats and other articles of glass fibers exports, with a CAGR of +11.6% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

In India, glass fiber exports increased at an average annual rate of +15.5% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, picking up by 7.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2014 when the export price increased by 38%. The level of export peaked in 2021 and is likely to see steady growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +3.5% per year.

Glass Fiber Imports

Imports in Southern Asia

In 2021, approx. X tons of voiles, webs, mats and other articles of glass fibers were imported in Southern Asia; jumping by 20% against 2020 figures. Over the period under review, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 29% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, glass fiber imports surged to $X in 2021. In general, imports showed buoyant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 27% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

Imports by Country

India was the key importing country with an import of about X tons, which reached 71% of total imports. Pakistan (X tons) ranks second in terms of the total imports with a 16% share, followed by Bangladesh (7.4%). Sri Lanka (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to glass fiber imports into India stood at +8.7%. At the same time, Bangladesh (+16.7%), Pakistan (+11.1%) and Sri Lanka (+4.9%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +16.7% from 2012-2021. Bangladesh (+3.3 p.p.) and Pakistan (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by -3.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported voiles, webs, mats and other articles of glass fibers in Southern Asia, comprising 69% of total imports. The second position in the ranking was held by Pakistan ($X), with a 17% share of total imports. It was followed by Bangladesh, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value in India amounted to +7.9%. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+11.8% per year) and Bangladesh (+23.4% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, increasing by 3.2% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 4.9%. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Bangladesh ($X per ton) and Pakistan ($X per ton), while Sri Lanka ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :