World - Glass Fibres And Glass Wool - Market Analysis, Forecast, Size, Trends And Insights
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The global glass fibres and glass wool market is expected to see continued growth in consumption and market value over the next eight years. Consumption has been on the rise, with the market projected to reach 9.8M tons by 2030. In value terms, the market is forecasted to increase to $52.6B by the end of 2030. The United States leads in both consumption and production, while China is a major importer and exporter. Average annual growth rates vary across countries, with notable increases in Belgium and Serbia. Import and export prices are also on the rise, indicating steady growth in the market.
Market Forecast
Driven by increasing demand for glass fibres and glass wool worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market volume to 9.8M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market value to $52.6B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Glass Fibres And Glass Wool
In 2022, consumption of glass fibres and glass wool increased by 0.3% to 8.3M tons, rising for the second consecutive year after two years of decline. The total consumption volume increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Global consumption peaked at 8.4M tons in 2018; however, from 2019 to 2022, consumption remained at a lower figure.
The global glass fibres and wool market value totaled $37.5B in 2022, stabilizing at 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 +2.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the market value increased by 8.7% against the previous year. Over the period under review, the global market reached the maximum level at $37.7B in 2018; however, from 2019 to 2022, consumption remained at a lower figure.
Consumption By Country
The country with the largest volume of glass fibres and wool consumption was the United States (4.7M tons), comprising approx. 56% of total volume. Moreover, glass fibres and wool consumption in the United States exceeded the figures recorded by the second-largest consumer, China (895K tons), fivefold. India (393K tons) ranked third in terms of total consumption with a 4.7% share.
From 2012 to 2022, the average annual rate of growth in terms of volume in the United States amounted to +3.5%. In the other countries, the average annual rates were as follows: China (+2.6% per year) and India (+2.7% per year).
In value terms, the United States ($21B) led the market, alone. The second position in the ranking was taken by China ($3.7B). It was followed by Japan.
From 2012 to 2022, the average annual growth rate of value in the United States totaled +3.3%. The remaining consuming countries recorded the following average annual rates of market growth: China (+2.1% per year) and Japan (+1.3% per year).
The countries with the highest levels of glass fibres and wool per capita consumption in 2022 were the United States (14 kg per person), Belgium (12 kg per person) and the UK (4.5 kg per person).
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Belgium (with a CAGR of +8.4%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Glass Fibres And Glass Wool
In 2022, the amount of glass fibres and glass wool produced worldwide fell modestly to 8.2M tons, therefore, remained relatively stable against 2021 figures. The total output volume increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 5.9%. Over the period under review, global production reached the peak volume at 8.4M tons in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.
In value terms, glass fibres and wool production fell modestly to $36.4B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when the production volume increased by 10%. Global production peaked at $37.4B in 2018; however, from 2019 to 2022, production failed to regain momentum.
Production By Country
The United States (4.6M tons) constituted the country with the largest volume of glass fibres and wool production, comprising approx. 56% of total volume. Moreover, glass fibres and wool production in the United States exceeded the figures recorded by the second-largest producer, China (1.1M tons), fourfold. The third position in this ranking was taken by India (365K tons), with a 4.5% share.
From 2012 to 2022, the average annual growth rate of volume in the United States amounted to +3.2%. The remaining producing countries recorded the following average annual rates of production growth: China (+3.5% per year) and India (+2.1% per year).
Imports
World Imports of Glass Fibres And Glass Wool
In 2022, purchases abroad of glass fibres and glass wool increased by 12% to 744K tons, rising for the second year in a row after two years of decline. The total import volume 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 throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 13%. Global imports peaked in 2022 and are likely to continue growth in years to come.
In value terms, glass fibres and wool imports soared to $3.9B in 2022. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +37.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.
Imports By Country
The purchases of the five major importers of glass fibres and glass wool, namely the United States, France, Mexico, Germany and India, represented more than third of total import. The following importers - Canada (24K tons), the UK (21K tons), Thailand (18K tons), Australia (17K tons), Saudi Arabia (16K tons), China (16K tons), Austria (16K tons) and Poland (15K tons) - together made up 19% of total imports.
From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +16.9%), while purchases 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 ($464M), the United States ($457M) and Mexico ($296M), with a combined 32% share of global imports. Germany, France, India, the UK, Canada, Thailand, Poland, Austria, Australia and Saudi Arabia lagged somewhat behind, together accounting for a further 29%.
Austria, with a CAGR of +11.8%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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 $5,174 per ton, with an increase of 3.7% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 5.1% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($29,721 per ton), while France ($2,663 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.
Exports
World Exports of Glass Fibres And Glass Wool
In 2022, shipments abroad of glass fibres and glass wool increased by 0.8% to 628K tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2018 when exports increased by 15% against the previous year. As a result, the exports reached the peak of 669K tons. From 2019 to 2022, the growth of the global exports remained at a lower figure.
In value terms, glass fibres and wool exports rose remarkably to $3.6B in 2022. The total export value increased at an average annual rate of +4.1% over the period from 2012 to 2022; 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 21% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.
Exports By Country
China was the largest exporter of glass fibres and glass wool in the world, with the volume of exports amounting to 189K tons, which was near 30% of total exports in 2022. Belgium (52K tons) held the second position in the ranking, followed by Spain (44K tons), Germany (33K tons) and the United Arab Emirates (30K tons). All these countries together took approx. 25% share of total exports. Mexico (28K tons), Malaysia (19K tons), the United States (16K tons), Saudi Arabia (16K tons), India (14K tons), France (13K tons), Serbia (12K tons) and Italy (11K tons) followed a long way behind the leaders.
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, Serbia (+89.1%), the United Arab Emirates (+13.8%), Mexico (+12.9%), India (+6.7%), Belgium (+5.8%), France (+5.2%), Italy (+4.1%) and Spain (+3.2%) displayed positive paces of growth. Moreover, Serbia emerged as the fastest-growing exporter exported in the world, with a CAGR of +89.1% from 2012-2022. Germany and Malaysia 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, the United Arab Emirates, Mexico, Belgium and Serbia increased by +13, +3.1, +2.8, +2.5 and +1.8 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 ($889M), the United States ($458M) and Germany ($255M), together comprising 45% of global exports. Spain, Mexico, Belgium, Italy, France, Malaysia, the United Arab Emirates, India, Serbia and Saudi Arabia lagged somewhat behind, together comprising a further 25%.
Serbia, with a CAGR of +81.1%, 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
In 2022, the average glass fibres and wool export price amounted to $5,694 per ton, picking up by 6.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2020 an increase of 9.8% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain 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 ($28,956 per ton), while Belgium ($1,709 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.
This report provides an in-depth analysis of the global market for glass fibres and wool. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 23141297 - Glass fibres, incl. glass wool, and articles thereof (excl. staple fibres, rovings, yarn, chopped strands, woven fabrics, also narrow fabrics, thin sheets voiles, webs, mats, mattresses and boards and similar nonwoven products, mineral wool and articles thereof, electrical insulators or parts thereof, optical fibres, fibre bundles or cable, brushes of glass fibres, and dolls' wigs)
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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