Thailand: Glass Fiber Market 2024

Glass Fiber Market Size in Thailand

The Thai glass fiber market soared to $X in 2021, growing by 26% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Glass Fiber Production in Thailand

In value terms, glass fiber production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 35% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Glass Fiber Exports

Exports from Thailand

In 2021, exports of voiles, webs, mats and other articles of glass fibers from Thailand amounted to X tons, growing by 12% compared with 2020. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by 43% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass fiber exports soared to $X in 2021. In general, exports posted a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X tons), Spain (X tons) and India (X tons) were the main destinations of glass fiber exports from Thailand, with a combined 37% share of total exports. Italy, Pakistan, Poland, the United States, Lithuania, Germany, Malaysia, Australia and Japan lagged somewhat behind, together comprising a further 45%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lithuania (with a CAGR of +130.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glass fiber exported from Thailand were the UK ($X), Pakistan ($X) and the United States ($X), with a combined 30% share of total exports.

The United States, with a CAGR of +94.7%, recorded the highest growth rate of the value of exports, in terms of 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

The average glass fiber export price stood at $X per ton in 2021, increasing by 32% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 35% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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 Japan ($X per ton), while the average price for exports to Lithuania ($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 Japan (+4.9%), while the prices for the other major destinations experienced mixed trend patterns.

Glass Fiber Imports

Imports into Thailand

Glass fiber imports into Thailand soared to X tons in 2021, rising by 21% compared with 2020. Over the period under review, imports saw a slight expansion. The pace of growth was the most pronounced in 2020 with an increase of 26% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, glass fiber imports soared to $X in 2021. Overall, total imports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +64.7% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest glass fiber supplier to Thailand, with a 74% share of total imports. Moreover, glass fiber imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. Turkey (X tons) ranked third in terms of total imports with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-2.8% per year) and Turkey (+88.0% per year).

In value terms, China ($X) constituted the largest supplier of voiles, webs, mats and other articles of glass fibers to Thailand, comprising 62% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 8% share of total imports. It was followed by the United States, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+12.2% per year) and the United States (-1.2% per year).

Import Prices by Country

In 2021, the average glass fiber import price amounted to $X per ton, surging by 17% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Turkey ($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) (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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