U.S.: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in the U.S.

The U.S. glass fibres and wool market totaled $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Glass fibres and wool consumption peaked at $X in 2018; afterwards, it flattened through to 2022.

Production of Glass Fibres And Glass Wool in the U.S.

In value terms, glass fibres and wool production totaled $X in 2022. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 6.3%. Glass fibres and wool production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Glass Fibres And Glass Wool

Exports from the U.S.

In 2022, shipments abroad of glass fibres and glass wool increased by 9.2% to X tons, rising for the second year in a row after eight years of decline. In general, exports, however, recorded a deep reduction. The exports peaked 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. The total export value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons) was the main destination for glass fibres and wool exports from the United States, accounting for a 66% share of total exports. Moreover, glass fibres and wool exports to Mexico exceeded the volume sent to the second major destination, China (X tons), more than tenfold. The third position in this ranking was held by Canada (X tons), with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mexico stood at +4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-18.4% per year) and Canada (-27.6% per year).

In value terms, Mexico ($X) remains the key foreign market for glass fibres and glass wool exports from the United States, comprising 44% of total exports. The second position in the ranking was taken by Canada ($X), with a 20% share of total exports. It was followed by China, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value to Mexico totaled +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+8.0% per year) and China (+8.0% per year).

Export Prices by Country

The average glass fibres and wool export price stood at $X per ton in 2022, surging by 12% against the previous year. Overall, the export price posted a significant expansion. The most prominent rate of growth was recorded in 2020 an increase of 53% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to South Korea ($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 Italy (+51.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into the U.S.

In 2022, imports of glass fibres and glass wool into the United States contracted to X tons, with a decrease of -4.8% on 2021 figures. Over the period under review, imports, however, showed resilient growth. The growth pace was the most rapid in 2014 when imports increased by 26%. Over the period under review, imports reached the maximum at X tons in 2021, and then shrank modestly in the following year.

In value terms, glass fibres and wool imports soared to $X in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +63.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 32%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

China (X tons), Canada (X tons) and Mexico (X tons) were the main suppliers of glass fibres and wool imports to the United States, with a combined 69% share of total imports. India, the United Arab Emirates, Taiwan (Chinese) and Germany lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +125.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Mexico ($X) and Canada ($X) constituted the largest glass fibres and wool suppliers to the United States, with a combined 61% share of total imports. India, Germany, the United Arab Emirates and Taiwan (Chinese) lagged somewhat behind, together comprising a further 23%.

The United Arab Emirates, with a CAGR of +114.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glass fibres and wool import price stood at $X per ton in 2022, increasing by 30% against the previous year. In general, the import price, however, showed a mild setback. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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