Venezuela: Market for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles 2024

Market Size for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Venezuela

In 2021, after three years of decline, there was significant growth in the Venezuelan market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles, when its value increased by 96% to $X. Overall, consumption, however, showed a precipitous contraction. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Exports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Exports from Venezuela

For the ninth consecutive year, Venezuela recorded decline in shipments abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles, which decreased by -17.1% to X kg in 2021. Over the period under review, exports faced a significant decline. The smallest decline of -1.4% was in 2015. Over the period under review, the exports of reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles reduced markedly to $X in 2021. Overall, exports recorded a precipitous decline. The pace of growth was the most pronounced in 2015 with an increase of 161% against the previous year. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Dominican Republic (X kg) was the main destination for exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from Venezuela, with a 79% share of total exports. Moreover, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to the Dominican Republic exceeded the volume sent to the second major destination, Aruba (X kg), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Dominican Republic totaled -2.5%.

In value terms, the Dominican Republic ($X) remains the key foreign market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles exports from Venezuela, comprising 80% of total exports. The second position in the ranking was held by Aruba ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the Dominican Republic totaled -16.1%.

Export Prices by Country

In 2021, the average export price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X per ton, reducing by -4.8% against the previous year. In general, the export price showed a drastic downturn. The pace of growth appeared the most rapid in 2015 when the average export price increased by 165% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Aruba amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Aruba (-5.6%).

Imports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Imports into Venezuela

In 2021, supplies from abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, continue to indicate a deep contraction. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles soared to $X in 2021. Overall, imports, however, continue to indicate a dramatic shrinkage. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of glass fibre filament, roving, and staple glass fibre article to Venezuela, accounting for a 82% share of total imports. Moreover, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from the United States exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sixfold. The third position in this ranking was held by China (X tons), with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at -18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+11.8% per year) and China (-23.5% per year).

In value terms, the United States ($X) constituted the largest supplier of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Venezuela, comprising 80% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 12% share of total imports. It was followed by China, with a 2.6% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled -20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-10.7% per year) and China (-26.0% per year).

Import Prices by Country

In 2021, the average import price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X per ton, growing by 19% against the previous year. In general, the import price, however, showed a pronounced shrinkage. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+32.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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