Thailand: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in Thailand

The Thai glass fibre mat market skyrocketed to $X in 2022, increasing by 58% against the previous year. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +60.4% against 2020 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Glass Fibre Mat Production in Thailand

In value terms, glass fibre mat production fell to $X in 2022 estimated in export price. In general, production recorded a resilient increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 58% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Glass Fibre Mat Exports

Exports from Thailand

In 2021, the amount of glass fibre mats exported from Thailand contracted to X tons, which is down by -6.7% compared with the year before. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 1,130% against the previous year. The exports peaked at X tons in 2020, and then dropped in the following year.

In value terms, glass fibre mat exports soared to $X in 2021. Overall, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 997%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The UK (X tons), Spain (X tons) and India (X tons) were the main destinations of glass fibre mat exports from Thailand, together accounting for 56% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +108.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glass fibre mat exported from Thailand were the UK ($X), Spain ($X) and India ($X), with a combined 56% share of total exports.

The UK, with a CAGR of +115.2%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination 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 fibre mat export price amounted to $X per ton, growing by 48% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were the UK ($X per ton) and Poland ($X per ton), while the average price for exports to India ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Mat Imports

Imports into Thailand

In 2022, supplies from abroad of glass fibre mats increased by 0.6% to X tons, rising for the third year in a row after two years of decline. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 25%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, glass fibre mat imports rose slightly to $X in 2022. In general, imports recorded modest growth. The pace of growth was the most pronounced in 2021 when imports increased by 44% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of glass fibre mat to Thailand, accounting for a 77% share of total imports. Moreover, glass fibre mat imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest.

In value terms, China ($X) constituted the largest supplier of glass fibre mats to Thailand, comprising 74% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +1.6%.

Import Prices by Country

In 2022, the average glass fibre mat import price amounted to $X per ton, surging by 1.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2021 when the average import price increased by 42%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :