Thailand: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in Thailand

The Thai glass fibre chopped strand market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Glass Fibre Chopped Strands in Thailand

In value terms, glass fibre chopped strand production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 17%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Glass Fibre Chopped Strands

Exports from Thailand

In 2021, overseas shipments of glass fibre chopped strands were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre chopped strand exports surged to $X in 2021. Overall, exports continue to indicate a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for glass fibre chopped strand exports from Thailand, accounting for a 79% share of total exports. Moreover, glass fibre chopped strand exports to Germany exceeded the volume sent to the second major destination, China (X tons), sixfold. The third position in this ranking was held by Indonesia (X tons), with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany amounted to +6,573.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+47.3% per year) and Indonesia (0.0% per year).

It was followed by Indonesia, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany stood at +2,496.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+43.6% per year) and Indonesia (0.0% per year).

Export Prices by Country

In 2021, the average glass fibre chopped strand export price amounted to $X per ton, shrinking by -57.2% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by 190%. As a result, the export price reached the peak level of $X per ton, and then shrank dramatically in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Germany ($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 Israel (+44.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Glass Fibre Chopped Strands

Imports into Thailand

After two years of decline, supplies from abroad of glass fibre chopped strands increased by 61% to X tons in 2021. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre chopped strand imports skyrocketed to $X in 2021. Overall, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest glass fibre chopped strand supplier to Thailand, with a 71% share of total imports. Moreover, glass fibre chopped strand imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by Japan (X tons), with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia stood at +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.0% per year) and Japan (+0.6% per year).

In value terms, Malaysia ($X) constituted the largest supplier of glass fibre chopped strands to Thailand, comprising 66% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports. It was followed by Japan, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia stood at +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.3% per year) and Japan (-0.4% per year).

Import Prices by Country

In 2021, the average glass fibre chopped strand import price amounted to $X per ton, growing by 6% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices attained the maximum 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 supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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