U.S.: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in the U.S.

After two years of growth, the U.S. glass fibre chopped strand market decreased by -1.1% to $X in 2021. Overall, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Production of Glass Fibre Chopped Strands in the U.S.

In value terms, glass fibre chopped strand production contracted modestly to $X in 2021. Over the period under review, the total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +13.7% against 2018 indices. The pace of growth appeared the most rapid in 2015 with an increase of 39% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Exports of Glass Fibre Chopped Strands

Exports from the U.S.

In 2021, overseas shipments of glass fibre chopped strands increased by 21% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +3.1% 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 2017 with an increase of 39% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass fibre chopped strand exports surged to $X in 2021. The total export value increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 47%. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Mexico (X tons) was the main destination for glass fibre chopped strand exports from the United States, with a 50% share of total exports. Moreover, glass fibre chopped strand exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico amounted to +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-0.7% per year) and China (+18.0% per year).

In value terms, Mexico ($X) remains the key foreign market for glass fibre chopped strands exports from the United States, comprising 38% of total exports. The second position in the ranking was taken by China ($X), with a 13% share of total exports. It was followed by Canada, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Mexico stood at +5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+18.1% per year) and Canada (-1.5% per year).

Export Prices by Country

In 2021, the average glass fibre chopped strand export price amounted to $X per ton, growing by 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2014 when the average export price increased by 30% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Venezuela ($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 Belgium (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibre Chopped Strands

Imports into the U.S.

In 2021, supplies from abroad of glass fibre chopped strands increased by 4.2% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 27%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, glass fibre chopped strand imports reached $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 34%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of glass fibre chopped strand to the United States, accounting for a 59% 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. Mexico (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia stood at +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.6% per year) and Mexico (+40.4% per year).

In value terms, Malaysia ($X) constituted the largest supplier of glass fibre chopped strands to the United States, comprising 41% of total imports. The second position in the ranking was held by China ($X), with a 20% share of total imports. It was followed by Mexico, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Malaysia stood at -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.7% per year) and Mexico (+41.7% per year).

Import Prices by Country

In 2021, the average glass fibre chopped strand import price amounted to $X per ton, rising by 3.3% against the previous year. Over the period under review, the import price, however, saw a mild curtailment. The most prominent rate of growth was recorded in 2014 an increase of 5.5%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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 Canada (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :