Eastern Asia: Market for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles 2024

Market Size for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Eastern Asia

For the third consecutive year, the East Asian market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles recorded decline in sales value, which decreased by X% to $X in 2022. Overall, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Production of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Eastern Asia

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles dropped slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Over the period under review, production of hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

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Exports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Exports in Eastern Asia

In 2022, shipments abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased by X% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of X% over the period 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 X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles expanded rapidly to $X in 2022. Total exports indicated a perceptible 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China prevails in articles structure, amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), making up a X% share of total exports. South Korea (X tons) and Japan (X tons) took a little share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, South Korea (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Japan (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and South Korea (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (X p.p.) and Taiwan (Chinese) (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest glass fibre filament, roving, and staple glass fibre article supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China stood at X%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, remaining stable against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

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 South Korea (X%), while the other leaders experienced more modest paces of growth.

Imports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Imports in Eastern Asia

After two years of growth, supplies from abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles decreased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% over the period 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 2014 with an increase of X%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles dropped markedly to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then shrank dramatically in the following year.

Imports by Country

South Korea was the main importing country with an import of around X tons, which resulted at X% of total imports. Japan (X tons) ranks second in terms of the total imports with a X% share, followed by China (X%) and Taiwan (Chinese) (X%).

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest glass fibre filament, roving, and staple glass fibre article importing markets in Eastern Asia were South Korea ($X), China ($X) and Japan ($X), with a combined X% share of total imports.

South Korea, with a CAGR of X%, saw 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 leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the import price showed a mild contraction. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X 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 Taiwan (Chinese) ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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