Asia-Pacific: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in Asia-Pacific

The Asia-Pacific glass fibre mat market rose to $X in 2022, with an increase of 3.6% against the previous year. The total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 -1.5% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Glass Fibre Mat Production in Asia-Pacific

In value terms, glass fibre mat production expanded to $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 -1.6% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 32% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

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Glass Fibre Mat Exports

Exports in Asia-Pacific

Glass fibre mat exports declined dramatically to X tons in 2022, falling by -19.3% against the previous year's figure. Over the period under review, exports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 38%. Over the period under review, the exports attained the maximum at X tons in 2021, and then dropped rapidly in the following year.

In value terms, glass fibre mat exports declined significantly to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 36%. As a result, the exports attained the peak of $X, and then shrank dramatically in the following year.

Exports by Country

China prevails in exports structure, accounting for X tons, which was near 82% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), committing an 8.7% share of total exports. The following exporters - South Korea (X tons) and India (X tons) - together made up 5.7% 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 ($X) remains the largest glass fibre mat supplier in Asia-Pacific, comprising 77% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 7.8% share of total exports. It was followed by South Korea, with a 5.2% share.

In China, glass fibre mat exports increased at an average annual rate of +12.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+2.6% per year) and South Korea (-5.5% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, which is down by -5.1% against the previous year. Overall, the export price showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 when the export price increased by 15%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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-Pacific

In 2022, imports of glass fibre mats in Asia-Pacific amounted to X tons, remaining constant against the year before. The total import volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 29%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, glass fibre mat imports rose sharply to $X in 2022. The total import value increased at an average annual rate of +4.6% 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 2013 with an increase of 18% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

The purchases of the four major importers of glass fibre mats, namely India, Japan, South Korea and Indonesia, represented more than half of total import. Vietnam (X tons) ranks next in terms of the total imports with a 7% share, followed by Thailand (5.8%), Malaysia (5.7%) and Pakistan (5.2%).

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +21.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), South Korea ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2022, with a combined 49% share of total imports. Indonesia, Pakistan, Vietnam, Thailand and Malaysia lagged somewhat behind, together accounting for a further 41%.

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

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, growing by 5% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2021 an increase of 15% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in years to come.

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