Overview of the Global Market for Glass Fibre Chopped Strands

Market Size for Glass Fibre Chopped Strands

The global glass fibre chopped strand market contracted slightly to $X in 2021, approximately mirroring the previous year. Over the period under review, consumption showed a mild increase. The pace of growth appeared the most rapid in 2016 with an increase of 8.8% against the previous year. Global consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Glass Fibre Chopped Strands

In value terms, glass fibre chopped strand production contracted markedly to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 20% against the previous year. As a result, production reached the peak level of $X, and then reduced notably in the following year.

Exports of Glass Fibre Chopped Strands

Exports

In 2021, shipments abroad of glass fibre chopped strands was finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +5.4% over the period from 2012 to 2021; 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.

In value terms, glass fibre chopped strand exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Malaysia (X tons), distantly followed by China (X tons), Belgium (X tons), France (X tons), the Netherlands (X tons) and Slovakia (X tons) represented the key exporters of glass fibre chopped strands, together achieving 85% of total exports. South Korea (X tons), Taiwan (Chinese) (X tons) and the United States (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +13.8%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest glass fibre chopped strand supplying countries worldwide were Malaysia ($X), Belgium ($X) and China ($X), together comprising 60% of global exports. These countries were followed by the Netherlands, France, Slovakia, the United States, South Korea and Taiwan (Chinese), which together accounted for a further 30%.

South Korea, with a CAGR of +13.9%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average glass fibre chopped strand export price stood at $X per ton in 2021, with an increase of 11% against the previous year. Overall, the export price, however, recorded a mild downturn. Over the period under review, the average export prices attained the maximum 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 origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.0%), while the other global leaders experienced more modest paces of growth.

Imports of Glass Fibre Chopped Strands

Imports

In 2021, overseas purchases of glass fibre chopped strands were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre chopped strand imports surged to $X in 2021. The total import 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 in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons), distantly followed by the Netherlands (X tons), Italy (X tons), South Korea (X tons), Japan (X tons), Belgium (X tons), China (X tons) and the United States (X tons) were the main importers of glass fibre chopped strands, together comprising 66% of total imports. The following importers - India (X tons), France (X tons), Switzerland (X tons), Thailand (X tons) and Poland (X tons) - together made up 14% of total imports.

From 2012 to 2021, average annual rates of growth with regard to glass fibre chopped strand imports into Germany stood at +3.4%. At the same time, India (+13.1%), Belgium (+11.8%), Japan (+11.7%), Switzerland (+10.0%), the Netherlands (+8.2%), Poland (+7.7%), Italy (+7.7%), Thailand (+7.4%), South Korea (+6.5%), France (+3.6%) and China (+1.5%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +13.1% from 2012-2021. The United States experienced a relatively flat trend pattern. Japan (+2.4 p.p.), Belgium (+2.4 p.p.), India (+1.8 p.p.) and the Netherlands (+1.7 p.p.) significantly strengthened its position in terms of the global imports, while China, the United States and Germany saw its share reduced by -2.5%, -3.3% and -4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported glass fibre chopped strands worldwide, comprising 19% of global imports. The second position in the ranking was held by the Netherlands ($X), with an 8.2% share of global imports. It was followed by China, with a 7.4% share.

In Germany, glass fibre chopped strand imports expanded at an average annual rate of +1.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the Netherlands (+6.4% per year) and China (+1.2% per year).

Import Prices by Country

In 2021, the average glass fibre chopped strand import price amounted to $X per ton, rising by 11% against the previous year. In general, the import price, however, continues to indicate a mild downturn. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in China ($X per ton) and Switzerland ($X per ton), while Japan ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-0.1%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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