Venezuela: Flat Glass Market 2024

Flat Glass Market Size in Venezuela

The Venezuelan flat glass market stood at $X in 2021, increasing by 3.6% against the previous year. The market value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Flat Glass Production in Venezuela

In value terms, flat glass production stood at $X in 2021 estimated in export price. In general, the total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -15.3% against 2016 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 55% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Flat Glass Exports

Exports from Venezuela

In 2021, overseas shipments of flat glass increased by 50% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, exports, however, saw a significant contraction. The pace of growth was the most pronounced in 2015 with an increase of 181%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, flat glass exports surged to $X in 2021. Overall, exports, however, continue to indicate a precipitous decline. The most prominent rate of growth was recorded in 2015 with an increase of 169%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for flat glass exports from Venezuela, with a 81% share of total exports. Moreover, flat glass exports to the United States exceeded the volume sent to the second major destination, Costa Rica (X tons), sevenfold. The third position in this ranking was taken by Colombia (X tons), with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +124.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-35.2% per year) and Colombia (-37.8% per year).

In value terms, the United States ($X) remains the key foreign market for flat glass exports from Venezuela, comprising 37% of total exports. The second position in the ranking was held by Spain ($X), with a 12% share of total exports. It was followed by Costa Rica, with a 2.9% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +75.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-12.8% per year) and Costa Rica (-49.6% per year).

Export Prices by Country

The average flat glass export price stood at $X per ton in 2021, dropping by -18.4% against the previous year. Over the period under review, the export price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2017 when the average export price increased by 20% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Spain ($X per ton), while the average price for exports to Costa Rica ($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 Spain (+2.5%), while the prices for the other major destinations experienced mixed trend patterns.

Flat Glass Imports

Imports into Venezuela

Flat glass imports into Venezuela skyrocketed to X tons in 2021, picking up by 61% compared with the previous year's figure. Overall, imports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 283% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, flat glass imports soared to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Brazil (X tons), Turkey (X tons) and the United Arab Emirates (X tons) were the main suppliers of flat glass imports to Venezuela, together comprising 65% of total imports. China, Italy, Colombia, Malaysia, the United States, Mexico and Spain lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +63.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of flat glass to Venezuela, comprising 34% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 17% share of total imports. It was followed by Turkey, with a 17% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-5.1% per year) and Turkey (+23.2% per year).

Import Prices by Country

The average flat glass import price stood at $X per ton in 2021, increasing by 34% against the previous year. In general, the import price saw a temperate increase. The pace of growth appeared the most rapid in 2014 when the average import price increased by 57%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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