Asia: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in Asia

The Asian glass fibre mat market rose to $X in 2022, increasing by 3.2% against the previous year. The total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.3% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Glass Fibre Mat Production in Asia

In value terms, glass fibre mat production totaled $X in 2022 estimated in export price. The total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.4% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 34% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

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Glass Fibre Mat Exports

Exports in Asia

In 2022, the amount of glass fibre mats exported in Asia dropped significantly to X tons, waning by -18.9% compared with 2021. In general, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 36% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped remarkably in the following year.

In value terms, glass fibre mat exports shrank significantly to $X in 2022. Total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +4.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 35%. As a result, the exports reached the peak of $X, and then contracted rapidly in the following year.

Exports by Country

China prevails in exports structure, reaching X tons, which was near 80% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), making up an 8.4% share of total exports. South Korea (X tons) and India (X tons) took a minor share of total exports.

China was also the fastest-growing in terms of the glass fibre mats exports, with a CAGR of +13.5% from 2012 to 2022. At the same time, Taiwan (Chinese) (+4.0%) displayed positive paces of growth. By contrast, South Korea (-4.9%) and India (-6.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +32 percentage points.

In value terms, China ($X) remains the largest glass fibre mat supplier in Asia, comprising 75% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 7.6% share of total exports. It was followed by South Korea, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +12.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+2.6% per year) and South Korea (-5.5% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, which is down by -4.9% against the previous year. Overall, the export price showed a pronounced setback. The pace of growth was the most pronounced in 2021 when the export price increased by 14% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.5%), while the other leaders experienced a decline in the export price figures.

Glass Fibre Mat Imports

Imports in Asia

In 2022, supplies from abroad of glass fibre mats was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +4.8% 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 2014 when imports increased by 18% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, glass fibre mat imports rose modestly to $X in 2022. The total import value increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 14% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

In 2022, India (X tons), Japan (X tons), South Korea (X tons), Indonesia (X tons), Turkey (X tons), Vietnam (X tons), Thailand (X tons), Malaysia (X tons), Pakistan (X tons), Saudi Arabia (X tons), Kazakhstan (X tons) and the United Arab Emirates (X tons) was the major importer of glass fibre mats in Asia, generating 89% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by India (with a CAGR of +21.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), South Korea ($X) and Japan ($X) were the countries with the highest levels of imports in 2022, together accounting for 41% of total imports. Indonesia, Pakistan, Turkey, Vietnam, Thailand, Malaysia, Saudi Arabia, the United Arab Emirates and Kazakhstan lagged somewhat behind, together comprising a further 48%.

In terms of the main importing countries, Pakistan, with a CAGR of +20.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, growing by 2.2% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 17%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Pakistan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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