Asia: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in Asia

The Asian glass fibre chopped strand market contracted modestly to $X in 2022, declining by X% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Production of Glass Fibre Chopped Strands in Asia

In value terms, glass fibre chopped strand production shrank slightly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Exports of Glass Fibre Chopped Strands

Exports in Asia

In 2022, after two years of growth, there was decline in overseas shipments of glass fibre chopped strands, when their volume decreased by X% to X tons. Total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, leveling off in the following year.

In value terms, glass fibre chopped strand exports stood at $X in 2022. Total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Malaysia (X tons) and China (X tons) dominates exports structure, together making up X% of total exports. It was distantly followed by South Korea (X tons), committing a X% share of total exports. The following exporters - Japan (X tons) and Taiwan (Chinese) (X tons) - each accounted for a X% 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 South Korea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), China ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports. South Korea and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, rising by X% against the previous year. Overall, 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 Japan ($X per ton), while China ($X per ton) was amongst the lowest.

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

Imports of Glass Fibre Chopped Strands

Imports in Asia

In 2022, glass fibre chopped strand imports in Asia dropped to X tons, with a decrease of X% compared with the previous year's figure. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, glass fibre chopped strand imports reduced modestly to $X in 2022. Total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then contracted modestly in the following year.

Imports by Country

The countries with the highest levels of glass fibre chopped strand imports in 2022 were South Korea (X tons), Japan (X tons), India (X tons) and China (X tons), together accounting for X% of total import. Turkey (X tons) ranks next in terms of the total imports with an X% share, followed by Thailand (X%). Taiwan (Chinese) (X tons) followed a long way behind the leaders.

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

In value terms, the largest glass fibre chopped strand importing markets in Asia were South Korea ($X), China ($X) and India ($X), together accounting for X% of total imports. Japan, Turkey, Thailand and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Turkey, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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 amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2012; afterwards, it flattened through to 2022.

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 China ($X per ton), while Japan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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