Latin America and the Caribbean: Glass Fibre Filament Market 2024

Glass Fibre Filament Market Size in Latin America and the Caribbean

In 2021, the Latin American glass fibre filament market was finally on the rise to reach $X for the first time since 2016, thus ending a four-year declining trend. Overall, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Glass Fibre Filament Production in Latin America and the Caribbean

In value terms, glass fibre filament production rose notably to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 27% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

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Glass Fibre Filament Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of glass fibre filaments was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +5.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 38%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass fibre filament exports soared to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 46% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

Exports by Country

Mexico was the key exporting country with an export of about X tons, which reached 81% of total exports. It was distantly followed by Brazil (X tons), generating a 19% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to glass fibre filament exports from Mexico stood at +4.3%. At the same time, Brazil (+12.5%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +12.5% from 2012-2021. While the share of Brazil (+8.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mexico (-8.2 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) remains the largest glass fibre filament supplier in Latin America and the Caribbean, comprising 84% of total exports. The second position in the ranking was held by Brazil ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico totaled +7.8%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, jumping by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Brazil amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+3.4%).

Glass Fibre Filament Imports

Imports in Latin America and the Caribbean

Glass fibre filament imports skyrocketed to X tons in 2021, increasing by 54% on the previous year. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +102.5% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre filament imports skyrocketed to $X in 2021. Overall, imports recorded a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Mexico (X tons) and Brazil (X tons) represented the major importers of glass fibre filaments in Latin America and the Caribbean, together finishing at near 75% of total imports. Argentina (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (9.3%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Brazil (with a CAGR of +12.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Argentina ($X) constituted the countries with the highest levels of imports in 2021, together comprising 88% of total imports.

In terms of the main importing countries, Brazil, with a CAGR of +14.5%, recorded 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

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, growing by 16% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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