Bangladesh: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in Bangladesh

The Bangladeshi glass fibre mat market shrank to $X in 2022, falling by -1.5% against the previous year. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 +1.0% against 2020 indices. Glass fibre mat consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Glass Fibre Mat Production in Bangladesh

In value terms, glass fibre mat production reduced slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 +0.9% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 31%. Glass fibre mat production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Glass Fibre Mat Exports

Exports from Bangladesh

In 2018, overseas shipments of glass fibre mats decreased by 0% to X tons, falling for the fourth year in a row after two years of growth. Over the period under review, exports faced a dramatic downturn. The pace of growth was the most pronounced in 2014 when exports increased by 612% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2018, the growth of the exports remained at a lower figure.

In value terms, glass fibre mat exports totaled $X in 2018. Overall, exports showed a significant decline. The most prominent rate of growth was recorded in 2014 when exports increased by 599% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2018, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for glass fibre mat exports from Bangladesh, with a approx. 100% share of total exports.

From 2013 to 2018, the average annual growth rate of volume to Germany was relatively modest.

From 2013 to 2018, the average annual growth rate of value to Germany was relatively modest.

Export Prices by Country

In 2018, the average glass fibre mat export price amounted to $X per ton, almost unchanged from the previous year. Overall, the export price continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 27%. Over the period under review, the average export prices hit record highs in 2018 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Germany.

From 2013 to 2018, the rate of growth in terms of prices for India amounted to +0.3% per year.

Glass Fibre Mat Imports

Imports into Bangladesh

Glass fibre mat imports into Bangladesh reduced sharply to X tons in 2022, declining by -38.7% compared with the previous year's figure. Overall, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 213%. Over the period under review, imports attained the peak figure at X tons in 2021, and then fell significantly in the following year.

In value terms, glass fibre mat imports fell significantly to $X in 2022. Over the period under review, imports, however, saw a strong increase. The pace of growth appeared the most rapid in 2014 when imports increased by 277% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibre mat supplier to Bangladesh, accounting for a 86% share of total imports. Moreover, glass fibre mat imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold. The third position in this ranking was held by Singapore (X tons), with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+1.9% per year) and Singapore (+63.7% per year).

In value terms, China ($X) constituted the largest supplier of glass fibre mats to Bangladesh, comprising 58% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 4.1% share of total imports. It was followed by Singapore, with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-3.3% per year) and Singapore (+76.2% per year).

Import Prices by Country

The average glass fibre mat import price stood at $X per ton in 2022, increasing by 35% against the previous year. In general, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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