ASEAN: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in ASEAN

For the third year in a row, the ASEAN glass fibre mat market recorded growth in sales value, which increased by 6.2% to $X in 2022. The total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +17.7% against 2019 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Glass Fibre Mat Production in ASEAN

In value terms, glass fibre mat production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by 30%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Glass Fibre Mat Exports

Exports in ASEAN

After two years of growth, shipments abroad of glass fibre mats decreased by -90.8% to X tons in 2022. Over the period under review, exports continue to indicate a pronounced decline. The growth pace was the most rapid in 2014 with an increase of 90% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then fell dramatically in the following year.

In value terms, glass fibre mat exports shrank markedly to $X in 2022. Overall, exports showed a noticeable reduction. The pace of growth appeared the most rapid in 2015 with an increase of 64%. The level of export peaked at $X in 2021, and then dropped markedly in the following year.

Exports by Country

Malaysia represented the main exporting country with an export of about X tons, which recorded 64% of total exports. It was distantly followed by Indonesia (X tons), making up a 33% share of total exports. Singapore (X tons) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Indonesia (with a CAGR of +55.0%), while the other leaders experienced a decline in the exports figures.

In value terms, Malaysia ($X), Indonesia ($X) and Singapore ($X) were the countries with the highest levels of exports in 2022, with a combined 100% share of total exports.

Indonesia, with a CAGR of +67.6%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, growing by 50% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+8.1%), while the other leaders experienced mixed trends in the export price figures.

Glass Fibre Mat Imports

Imports in ASEAN

In 2022, glass fibre mat imports in ASEAN declined slightly to X tons, shrinking by -2.3% on 2021 figures. The total import volume increased at an average annual rate of +3.7% 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 2016 when imports increased by 17% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, glass fibre mat imports reached $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.3% 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 +57.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 46% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, Indonesia (X tons), distantly followed by Vietnam (X tons), Thailand (X tons), Malaysia (X tons) and the Philippines (X tons) represented the major importers of glass fibre mats, together committing 95% of total imports. The following importers - Singapore (X tons) and Myanmar (X tons) - each reached a 4.4% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +17.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 77% share of total imports. Malaysia, the Philippines, Singapore and Myanmar lagged somewhat behind, together accounting for a further 22%.

In terms of the main importing countries, the Philippines, with a CAGR of +15.8%, saw 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 ASEAN stood at $X per ton in 2022, picking up by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2021 when the import price increased by 36%. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in years to come.

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 Indonesia ($X per ton), while Myanmar ($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 Philippines (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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