Thailand: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in Thailand

The Thai glass fibre fabrics market skyrocketed to $X in 2022, rising by 18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a resilient increase. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Glass Fibre Fabrics Exports

Exports from Thailand

In 2021, shipments abroad of glass fibre fabrics increased by 75% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports posted perceptible growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre fabrics exports skyrocketed to $X in 2021. In general, total exports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.6% 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 +78.9% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Philippines (X tons) was the main destination for glass fibre fabrics exports from Thailand, accounting for a 32% share of total exports. Moreover, glass fibre fabrics exports to the Philippines exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. The United States (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Philippines totaled +5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+4.8% per year) and the United States (+12.7% per year).

In value terms, the largest markets for glass fibre fabrics exported from Thailand were the Philippines ($X), Japan ($X) and Indonesia ($X), together accounting for 57% of total exports. The United States, Spain, Taiwan (Chinese), Sweden, South Korea, Italy, Germany, Poland and Slovenia lagged somewhat behind, together comprising a further 30%.

Italy, with a CAGR of +593.8%, 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

In 2021, the average glass fibre fabrics export price amounted to $X per ton, declining by -3.4% against the previous year. Overall, the export price saw a slight decrease. The most prominent rate of growth was recorded in 2017 an increase of 32% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Poland ($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 Indonesia (+2.4%), while the prices for the other major destinations experienced a decline.

Glass Fibre Fabrics Imports

Imports into Thailand

For the third consecutive year, Thailand recorded growth in overseas purchases of glass fibre fabrics, which increased by 0.7% to X tons in 2022. Overall, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 63% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, glass fibre fabrics imports amounted to $X in 2022. In general, imports posted a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 44%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Taiwan (Chinese) (X tons), China (X tons) and South Korea (X tons) were the main suppliers of glass fibre fabrics imports to Thailand, with a combined 98% share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +34.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of glass fibre fabrics to Thailand, comprising 52% of total imports. The second position in the ranking was taken by South Korea ($X), with a 21% share of total imports. It was followed by China, with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Taiwan (Chinese) stood at +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+25.2% per year) and China (+4.1% per year).

Import Prices by Country

The average glass fibre fabrics import price stood at $X per ton in 2022, growing by 2.9% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 32%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($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) (+2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :