Glass Fibre and Article Market

Driven by increasing demand worldwide, the global glass fibre and article market is projected to see steady growth from 2022 to 2030, with China leading in both consumption and production. The market value is expected to reach $64.4B by 2030, with consumption peaking in 2022 at 17M tons. Product types with highest consumption include glass fibre filaments, rovings, chopped strands, and staple glass fibre articles, voiles, webs, mats, and other articles of glass fibers, and glass fibre fabrics. The United States and Germany are major importers, while China dominates exports. Import and export prices have seen fluctuations over the years, with the United States having the highest export price in 2022.

Market Forecast

Driven by increasing demand for glass fibres and glass fibre articles worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.5% for the period from 2022 to 2030, which is projected to bring the market volume to 18M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +0.9% for the period from 2022 to 2030, which is projected to bring the market value to $64.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Glass Fibres and Glass Fibre Articles

Global glass fibre and article consumption rose modestly to 17M tons in 2022, increasing by 1.9% compared with 2021. In general, consumption saw a relatively flat trend pattern. Global consumption peaked at 18M tons in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

The global glass fibre and article market size expanded rapidly to $59.7B in 2022, increasing by 6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 8.1%. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

China (4.4M tons) constituted the country with the largest volume of glass fibre and article consumption, comprising approx. 25% of total volume. Moreover, glass fibre and article consumption in China exceeded the figures recorded by the second-largest consumer, the United States (2M tons), twofold. India (1.8M tons) ranked third in terms of total consumption with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +1.4%. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (+1.8% per year) and India (+1.6% per year).

In value terms, the United States ($10.4B), Japan ($9B) and China ($7.7B) appeared to be the countries with the highest levels of market value in 2022, together accounting for 45% of the global market. India, Mexico, Egypt, France, Germany, South Korea, Russia, the UK, Brazil and Turkey lagged somewhat behind, together accounting for a further 21%.

Egypt, with a CAGR of +4.0%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of glass fibre and article per capita consumption in 2022 were France (11 kg per person), the UK (7.5 kg per person) and the United States (6.1 kg per person).

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +3.7%), while consumption for the other global leaders experienced more modest paces of growth.

Consumption By Type

The products with the highest volumes of consumption in 2022 were glass fibre filaments, rovings, chopped strands, and staple glass fibre articles (8.9M tons), voiles, webs, mats and other articles of glass fibers (5.5M tons) and glass fibre fabrics (3M tons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consumed products, was attained by glass fibre fabrics (with a CAGR of +3.1%), while consumption for the other products experienced mixed trends in the consumption figures.

In value terms, the largest types of glass fibres and glass fibre articles in terms of market size were glass fibre fabrics ($19.9B), voiles, webs, mats and other articles of glass fibers ($16.9B) and glass fibre filaments, rovings, chopped strands, and staple glass fibre articles ($14.8B).

Glass fibre fabrics, with a CAGR of +4.2%, saw the highest growth rate of market size in terms of the main consumed products over the period under review, while market for the other products experienced mixed trends in the market figures.

Production

World Production of Glass Fibres and Glass Fibre Articles

In 2022, global production of glass fibres and glass fibre articles shrank to 17M tons, waning by -2.1% compared with 2021. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 11% against the previous year. Global production peaked at 18M tons in 2016; however, from 2017 to 2022, production failed to regain momentum.

In value terms, glass fibre and article production stood at $48.3B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 7.4%. Over the period under review, global production hit record highs at $49.1B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

China (5.6M tons) constituted the country with the largest volume of glass fibre and article production, comprising approx. 34% of total volume. Moreover, glass fibre and article production in China exceeded the figures recorded by the second-largest producer, India (1.6M tons), threefold. The third position in this ranking was taken by the United States (1.6M tons), with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +1.5%. In the other countries, the average annual rates were as follows: India (+0.9% per year) and the United States (-0.3% per year).

Production By Type

The products with the highest volumes of production in 2022 were glass fibre filaments, rovings, chopped strands, and staple glass fibre articles (8.8M tons), voiles, webs, mats and other articles of glass fibers (5.1M tons) and glass fibre fabrics (2.9M tons).

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main produced products, was attained by glass fibre fabrics (with a CAGR of +2.9%), while production for the other products experienced mixed trends in the production figures.

In value terms, glass fibre fabrics ($19.9B), voiles, webs, mats and other articles of glass fibers ($15.2B) and glass fibre filaments, rovings, chopped strands, and staple glass fibre articles ($13.2B) were the products with the highest levels of production in 2022.

Glass fibre fabrics, with a CAGR of +4.7%, saw the highest growth rate of market size among the main produced products over the period under review, while production for the other products experienced mixed trends in the production figures.

Imports

World Imports of Glass Fibres and Glass Fibre Articles

In 2022, the amount of glass fibres and glass fibre articles imported worldwide shrank slightly to 5.8M tons, with a decrease of -2.7% compared with the previous year's figure. The total import volume increased at an average annual rate of +3.3% 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 17% against the previous year. As a result, imports attained the peak of 6M tons, and then contracted in the following year.

In value terms, glass fibre and article imports amounted to $14.6B in 2022. The total import value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 26%. Global imports peaked in 2022 and are likely to see steady growth in the near future.

Imports By Country

The United States (646K tons) and Germany (538K tons) were the major importers of glass fibres and glass fibre articles in 2022, finishing at approx. 11% and 9.3% of total imports, respectively. It was followed by France (338K tons), achieving a 5.8% share of total imports. The following importers - Italy (244K tons), Canada (231K tons), India (227K tons), Turkey (215K tons), South Korea (215K tons), Mexico (201K tons), Belgium (201K tons), the Netherlands (192K tons), Poland (172K tons) and Spain (171K tons) - together made up 36% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +12.0%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest glass fibre and article importing markets worldwide were the United States ($1.6B), Germany ($1.3B) and France ($799M), together accounting for 25% of global imports. Mexico, Italy, Canada, South Korea, Turkey, Poland, Spain, the Netherlands, India and Belgium lagged somewhat behind, together accounting for a further 32%.

India, with a CAGR of +10.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

Glass fibre filaments, rovings, chopped strands, and staple glass fibre articles (3M tons) and voiles, webs, mats and other articles of glass fibers (2.2M tons) dominates imports structure, together comprising 91% of total imports. It was distantly followed by glass fibre fabrics (533K tons), constituting a 9.2% share of total imports.

From 2012 to 2022, the biggest increases were recorded for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles (with a CAGR of +4.1%), while purchases for the other products experienced more modest paces of growth.

In value terms, the largest types of imported glass fibres and glass fibre articles were voiles, webs, mats and other articles of glass fibers ($7.3B), glass fibre filaments, rovings, chopped strands, and staple glass fibre articles ($4.9B) and glass fibre fabrics ($2.5B).

Glass fibre filaments, rovings, chopped strands, and staple glass fibre articles, with a CAGR of +4.1%, recorded the highest growth rate of the value of imports, in terms of the main imported products over the period under review, while purchases for the other products experienced more modest paces of growth.

Import Prices By Type

The average glass fibre and article import price stood at $2,523 per ton in 2022, growing by 4% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 7.5%. Over the period under review, average import prices attained the maximum at $2,588 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was glass fibre fabrics ($4,665 per ton), while the price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles ($1,599 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by glass fiber (+0.4%), while the other products experienced mixed trends in the import price figures.

Import Prices By Country

In 2022, the average glass fibre and article import price amounted to $2,523 per ton, surging by 4% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 7.5% against the previous year. Global import price peaked at $2,588 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Mexico ($3,400 per ton), while India ($1,687 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Glass Fibres and Glass Fibre Articles

In 2022, global exports of glass fibres and glass fibre articles reduced to 5.1M tons, with a decrease of -14.1% against the previous year. The total export volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 19%. As a result, the exports reached the peak of 5.9M tons, and then dropped in the following year.

In value terms, glass fibre and article exports reduced to $13.4B in 2022. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 27%. As a result, the exports attained the peak of $14.5B, and then declined in the following year.

Exports By Country

China was the largest exporter of glass fibres and glass fibre articles in the world, with the volume of exports resulting at 1.4M tons, which was near 27% of total exports in 2022. Belgium (449K tons) ranks second in terms of the total exports with an 8.8% share, followed by Malaysia (7%). France (214K tons), the United States (207K tons), Germany (194K tons), Taiwan (Chinese) (173K tons), the Czech Republic (173K tons), Mexico (155K tons), the UK (153K tons), the Netherlands (145K tons), Bahrain (113K tons) and Slovakia (107K tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to glass fibre and article exports from China stood at +1.3%. At the same time, Bahrain (+13.0%), Germany (+4.8%), Malaysia (+3.7%), Belgium (+3.1%), Mexico (+2.9%), the UK (+2.3%), the Netherlands (+2.1%) and France (+1.7%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in the world, with a CAGR of +13.0% from 2012-2022. The Czech Republic, Slovakia and Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, the United States (-6.5%) illustrated a downward trend over the same period. While the share of the United States (-5.4 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($2.3B), the United States ($1.4B) and Germany ($923M) were the countries with the highest levels of exports in 2022, with a combined 35% share of global exports. Belgium, France, Malaysia, the UK, Mexico, the Czech Republic, Taiwan (Chinese), the Netherlands, Slovakia and Bahrain lagged somewhat behind, together accounting for a further 34%.

Bahrain, with a CAGR of +17.1%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Glass fibre filaments, rovings, chopped strands, and staple glass fibre articles was the key type of glass fibres and glass fibre articles in the world, with the volume of exports amounting to 2.9M tons, which was approx. 58% of total exports in 2022. It was distantly followed by voiles, webs, mats and other articles of glass fibers (1.7M tons) and glass fibre fabrics (0.4M tons), together mixing up a 42% share of total exports.

From 2012 to 2022, the biggest increases were recorded for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles (with a CAGR of +3.3%), while shipments for the other products experienced mixed trends in the exports figures.

In value terms, the largest types of exported glass fibres and glass fibre articles were voiles, webs, mats and other articles of glass fibers ($6.6B), glass fibre filaments, rovings, chopped strands, and staple glass fibre articles ($4.5B) and glass fibre fabrics ($2.3B).

Glass fibre filaments, rovings, chopped strands, and staple glass fibre articles, with a CAGR of +3.8%, saw the highest rates of growth with regard to the value of exports, among the main exported products over the period under review, while shipments for the other products experienced more modest paces of growth.

Export Prices By Type

In 2022, the average glass fibre and article export price amounted to $2,633 per ton, picking up by 7.1% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the product type; the product with the highest price was glass fibre fabrics ($5,918 per ton), while the average price for exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles ($1,519 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by glass fiber (+2.0%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2022, the average glass fibre and article export price amounted to $2,633 per ton, rising by 7.1% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. As a result, the export 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 exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($6,889 per ton), while Bahrain ($1,434 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 (+8.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform