Spain: Glass Fiber Market 2024

Glass Fiber Market Size in Spain

In 2021, the Spanish glass fiber market increased by 37% to $X for the first time since 2016, thus ending a four-year declining trend. Overall, consumption, however, showed a noticeable shrinkage. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Glass Fiber Production in Spain

In value terms, glass fiber production stood at $X in 2021 estimated in export price. Overall, production, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by 11% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Glass Fiber Exports

Exports from Spain

In 2021, approx. X tons of voiles, webs, mats and other articles of glass fibers were exported from Spain; increasing by 14% on 2020. Overall, total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +37.7% against 2017 indices. The pace of growth was the most pronounced in 2015 when exports increased by 20%. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, glass fiber exports surged to $X in 2021. In general, total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +104.2% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons) was the main destination for glass fiber exports from Spain, accounting for a 52% share of total exports. Moreover, glass fiber exports to France exceeded the volume sent to the second major destination, Germany (X tons), fivefold. Portugal (X tons) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to France stood at +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+19.8% per year) and Portugal (+9.7% per year).

In value terms, the largest markets for glass fiber exported from Spain were France ($X), Germany ($X) and the United States ($X), together accounting for 58% of total exports. These countries were followed by Portugal, Brazil, India, Italy, Belgium, Morocco and the UK, which together accounted for a further 23%.

In terms of the main countries of destination, India, with a CAGR of +50.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average glass fiber export price amounted to $X per ton, increasing by 16% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 45% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fiber Imports

Imports into Spain

In 2021, glass fiber imports into Spain soared to X tons, picking up by 25% against the previous year's figure. Overall, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +134.0% against 2013 indices. The pace of growth was the most pronounced in 2014 when imports increased by 46%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, glass fiber imports soared to $X in 2021. In general, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +45.9% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), China (X tons) and Morocco (X tons) were the main suppliers of glass fiber imports to Spain, together accounting for 49% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Morocco (with a CAGR of +130.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), France ($X) and Germany ($X) constituted the largest glass fiber suppliers to Spain, with a combined 43% share of total imports. Morocco, India, Turkey, Portugal, Belgium and Egypt lagged somewhat behind, together accounting for a further 33%.

Morocco, with a CAGR of +108.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glass fiber import price stood at $X per ton in 2021, growing by 13% against the previous year. In general, the import price, however, showed a perceptible decrease. The growth pace was the most rapid in 2015 an increase of 18%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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