Overview of the Global Market for Glass Fibres And Glass Wool

Market Size for Glass Fibres And Glass Wool

The global glass fibres and wool market fell modestly to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of +2.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 8.7% against the previous year. Over the period under review, the global market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Glass Fibres And Glass Wool

In value terms, glass fibres and wool production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 10%. Global production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Glass Fibres And Glass Wool

Exports

In 2022, global exports of glass fibres and glass wool fell modestly to X tons, remaining constant against 2021. The total export volume increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 21% against the previous year. Over the period under review, the global exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, glass fibres and wool exports expanded remarkably to $X in 2022. The total export value increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 22% against the previous year. Over the period under review, the global exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

China represented the key exporter of glass fibres and glass wool in the world, with the volume of exports amounting to X tons, which was approx. 26% of total exports in 2022. Egypt (X tons) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by Belgium (7.4%), Spain (6.1%), the United Arab Emirates (5.4%) and Germany (5%). Mexico (X tons), Malaysia (X tons), the United States (X tons), Saudi Arabia (X tons), India (X tons), Finland (X tons) and France (X tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to glass fibres and wool exports from China stood at +8.2%. At the same time, Egypt (+317.6%), the United Arab Emirates (+16.9%), Mexico (+13.0%), India (+6.7%), Belgium (+5.9%), France (+5.3%) and Spain (+3.0%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in the world, with a CAGR of +317.6% from 2012-2022. Germany, Malaysia and Finland experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-4.2%) and the United States (-16.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Egypt, the United Arab Emirates, Mexico and Belgium increased by +11, +10, +3.9, +2.4 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest glass fibres and wool supplying countries worldwide were China ($X), the United States ($X) and Germany ($X), with a combined 44% share of global exports. Spain, Mexico, Egypt, France, Belgium, the United Arab Emirates, Malaysia, India, Saudi Arabia and Finland lagged somewhat behind, together comprising a further 25%.

Among the main exporting countries, Egypt, with a CAGR of +267.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average glass fibres and wool export price amounted to $X per ton, picking up by 8% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2020 an increase of 16%. The global export price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+22.9%), while the other global leaders experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports

In 2022, global glass fibres and wool imports reached X tons, with an increase of 7.5% on the previous year's figure. The total import volume increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. Over the period under review, global imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, glass fibres and wool imports expanded sharply to $X in 2022. In general, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +34.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 18%. Over the period under review, global imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of glass fibres and wool imports in 2022 were the United States (X tons), France (X tons), Mexico (X tons), Germany (X tons) and India (X tons), together reaching 44% of total import. Canada (X tons), the UK (X tons), Thailand (X tons), Vietnam (X tons), Australia (X tons), Saudi Arabia (X tons), China (X tons) and South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +16.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest glass fibres and wool importing markets worldwide were China ($X), the United States ($X) and Mexico ($X), with a combined 32% share of global imports. Germany, France, India, the UK, Canada, Thailand, South Korea, Vietnam, Australia and Saudi Arabia lagged somewhat behind, together comprising a further 31%.

Among the main importing countries, Vietnam, with a CAGR of +15.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average glass fibres and wool import price amounted to $X per ton, picking up by 6.4% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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