Thailand: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Thailand

The Thai glass fibres and wool market totaled $X in 2022, increasing by 4.4% against the previous year. The market value increased at an average annual rate of +4.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Production of Glass Fibres And Glass Wool in Thailand

In value terms, glass fibres and wool production shrank to $X in 2022 estimated in export price. Overall, the total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -22.4% against 2019 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 49% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Glass Fibres And Glass Wool

Exports from Thailand

In 2022, glass fibres and wool exports from Thailand soared to X tons, picking up by 76% against 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, glass fibres and wool exports surged to $X in 2022. Overall, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 56%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Lithuania (X tons), Malaysia (X tons) and India (X tons) were the main destinations of glass fibres and wool exports from Thailand, together comprising 38% of total exports. China, the United States, the Philippines, Mexico, Indonesia, Japan, Germany, Poland, the Netherlands and Cambodia lagged somewhat behind, together comprising a further 49%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +117.8%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for glass fibres and glass wool exports from Thailand, comprising 30% of total exports. The second position in the ranking was taken by the United States ($X), with a 9.5% share of total exports. It was followed by Germany, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value to China stood at +38.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+96.3% per year) and Germany (+14.8% per year).

Export Prices by Country

The average glass fibres and wool export price stood at $X per ton in 2022, dropping by -14% against the previous year. In general, the export price, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2013 an increase of 220%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Thailand

For the fifth year in a row, Thailand recorded growth in purchases abroad of glass fibres and glass wool, which increased by 177% to X tons in 2022. In general, imports recorded prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, glass fibres and wool imports skyrocketed to $X in 2022. Overall, imports saw a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibres and wool supplier to Thailand, accounting for a 72% share of total imports. Moreover, glass fibres and wool imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), tenfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.9% per year) and Taiwan (Chinese) (+7.7% per year).

In value terms, China ($X) constituted the largest supplier of glass fibres and glass wool to Thailand, comprising 58% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 7.1% share of total imports. It was followed by the United States, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+14.1% per year) and the United States (+2.0% per year).

Import Prices by Country

The average glass fibres and wool import price stood at $X per ton in 2022, with a decrease of -13.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2013 an increase of 39%. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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