Latin America and the Caribbean: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in Latin America and the Caribbean

The Latin American glass fibre mat market dropped modestly to $X in 2022, approximately reflecting the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Glass Fibre Mat Production in Latin America and the Caribbean

In value terms, glass fibre mat production totaled $X in 2022 estimated in export price. The total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.6% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of 69%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

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Glass Fibre Mat Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of glass fibre mats decreased by -30.8% to X tons for the first time since 2015, thus ending a six-year rising trend. Overall, exports, however, continue to indicate a temperate expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 92% against the previous year. The volume of export peaked at X tons in 2021, and then dropped sharply in the following year.

In value terms, glass fibre mat exports stood at $X in 2022. In general, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by 100% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

Mexico dominates exports structure, recording X tons, which was near 92% of total exports in 2022. It was distantly followed by Brazil (X tons), making up a 5.3% share of total exports.

Mexico was also the fastest-growing in terms of the glass fibre mats exports, with a CAGR of +20.0% from 2012 to 2022. Brazil (-20.9%) illustrated a downward trend over the same period. Mexico (+71 p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by -71.8% from 2012 to 2022, respectively.

In value terms, Mexico ($X) remains the largest glass fibre mat supplier in Latin America and the Caribbean, comprising 94% of total exports. The second position in the ranking was taken by Brazil ($X), with a 4.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico totaled +26.9%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, increasing by 49% against the previous year. Export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass fibre mat export price increased by +49.4% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Brazil stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.7%).

Glass Fibre Mat Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of glass fibre mats were imported in Latin America and the Caribbean; falling by -17% compared with 2021. Overall, imports showed a pronounced curtailment. The pace of growth was the most pronounced in 2018 when imports increased by 23% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, glass fibre mat imports declined to $X in 2022. In general, imports continue to indicate a mild descent. The pace of growth was the most pronounced in 2021 when imports increased by 34% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Mexico represented the main importing country with an import of around X tons, which amounted to 53% of total imports. Argentina (X tons) ranks second in terms of the total imports with an 18% share, followed by Chile (8.1%) and Colombia (4.8%). Brazil (X tons), Peru (X tons) and Guatemala (X tons) took a relatively small share of total imports.

Mexico was also the fastest-growing in terms of the glass fibre mats imports, with a CAGR of +5.6% from 2012 to 2022. At the same time, Argentina (+3.8%) and Chile (+2.3%) displayed positive paces of growth. Guatemala experienced a relatively flat trend pattern. By contrast, Colombia (-4.0%), Peru (-5.9%) and Brazil (-26.1%) illustrated a downward trend over the same period. Mexico (+33 p.p.), Argentina (+9.7 p.p.) and Chile (+3.8 p.p.) significantly strengthened its position in terms of the total imports, while Brazil saw its share reduced by -46.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported glass fibre mats in Latin America and the Caribbean, comprising 67% of total imports. The second position in the ranking was taken by Argentina ($X), with a 15% share of total imports. It was followed by Chile, with a 5% share.

From 2012 to 2022, the average annual growth rate of value in Mexico stood at +9.3%. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (+5.8% per year) and Chile (+3.2% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, growing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The pace of growth was the most pronounced in 2021 an increase of 21% against the previous year. 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 Mexico ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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