Report Update Nov 1, 2024

Vietnam - Glass Fibre Chopped Strands - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in Vietnam

In 2021, the Vietnamese glass fibre chopped strand market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption enjoyed a perceptible expansion. Glass fibre chopped strand consumption peaked in 2021 and is likely to continue growth in the near future.

Exports of Glass Fibre Chopped Strands

Exports from Vietnam

In 2021, overseas shipments of glass fibre chopped strands decreased by -20.6% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 32% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, glass fibre chopped strand exports dropped markedly to $X in 2021. In general, exports, however, recorded strong growth. The pace of growth was the most pronounced in 2019 with an increase of 49%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for glass fibre chopped strand exports from Vietnam, accounting for a 95% share of total exports. It was followed by Germany (X kg), with a 2.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to China was relatively modest.

In value terms, China ($X) and Germany ($X) constituted the largest markets for glass fibre chopped strand exported from Vietnam worldwide.

In terms of the main countries of destination, China, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average glass fibre chopped strand export price stood at $X per ton in 2021, reducing by -6.8% against the previous year. Overall, the export price continues to indicate a precipitous decline. The pace of growth appeared the most rapid in 2019 when the average export price increased by 13% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+8.9%).

Imports of Glass Fibre Chopped Strands

Imports into Vietnam

Glass fibre chopped strand imports into Vietnam soared to X tons in 2021, growing by 18% compared with the previous year's figure. In general, imports continue to indicate a perceptible increase. The pace of growth was the most pronounced in 2014 when imports increased by 136%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, glass fibre chopped strand imports skyrocketed to $X in 2021. Overall, imports continue to indicate a notable expansion. The pace of growth was the most pronounced in 2014 with an increase of 129%. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the near future.

Imports by Country

China (X tons), South Korea (X tons) and Malaysia (X tons) were the main suppliers of glass fibre chopped strand imports to Vietnam, with a combined 83% share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +22.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X), South Korea ($X) and Malaysia ($X) were the largest glass fibre chopped strand suppliers to Vietnam, with a combined 83% share of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +22.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average glass fibre chopped strand import price amounted to $X per ton, surging by 19% against the previous year. In general, the import price, however, continues to indicate a mild slump. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for the United States ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for glass fibre chopped strands in the world?

The country with the largest volume of glass fibre chopped strand consumption was China, accounting for 25% of total volume. Moreover, glass fibre chopped strand consumption in China exceeded the figures recorded by the second-largest consumer, Japan, twofold. The United States ranked third in terms of total consumption with a 9.8% share.

What are the largest producers of glass fibre chopped strands in the world?

China remains the largest glass fibre chopped strand producing country worldwide, accounting for 25% of total volume. Moreover, glass fibre chopped strand production in China exceeded the figures recorded by the second-largest producer, Japan, twofold. The United States ranked third in terms of total production with a 9.3% share.

What are the leading suppliers of glass fibre chopped strands to Vietnam?

In value terms, China, Malaysia and South Korea constituted the largest glass fibre chopped strand suppliers to Vietnam, together comprising 89% of total imports.

What is the average export price for glass fibre chopped strands in Vietnam?

The average glass fibre chopped strand export price stood at $423 per ton in 2021, shrinking by -69% against the previous year.

What is the average import price for glass fibre chopped strands in Vietnam?

In 2021, the average glass fibre chopped strand import price amounted to $1,171 per ton, growing by 7% against the previous year.

This report provides an in-depth analysis of the market for glass fibre chopped strand in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 23141110 - Glass fibre threads cut into lengths of at least 3 mm but . .50 mm (chopped strands)

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023