Mexico: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Mexico

The Mexican glass fibres and wool market declined modestly to $X in 2022, stabilizing at the previous year. Over the period under review, consumption, however, recorded a mild contraction. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Glass Fibres And Glass Wool in Mexico

In value terms, glass fibres and wool production reduced to $X in 2022 estimated in export price. In general, production showed a perceptible decrease. The growth pace was the most rapid in 2019 with an increase of 23% against the previous year. Glass fibres and wool production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Glass Fibres And Glass Wool

Exports from Mexico

In 2022, exports of glass fibres and glass wool from Mexico soared to X tons, with an increase of 24% against the previous year's figure. Overall, exports enjoyed a prominent increase. The growth pace was the most rapid in 2021 with an increase of 83% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, glass fibres and wool exports skyrocketed to $X in 2022. In general, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +40.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 20%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

The United States (X tons) was the main destination for glass fibres and wool exports from Mexico, with a approx. 94% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +13.4%.

In value terms, the United States ($X) also remains the key foreign market for glass fibres and glass wool exports from Mexico.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +6.1%.

Export Prices by Country

The average glass fibres and wool export price stood at $X per ton in 2022, dropping by -5.5% against the previous year. Overall, the export price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2014 an increase of 19% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -6.4% per year.

Imports of Glass Fibres And Glass Wool

Imports into Mexico

In 2022, the amount of glass fibres and glass wool imported into Mexico skyrocketed to X tons, growing by 17% compared with 2021 figures. In general, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +9.4% 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 +30.0% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 25%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, glass fibres and wool imports rose rapidly to $X in 2022. Overall, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.5% 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 +29.2% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 17% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

The United States (X tons), China (X tons) and India (X tons) were the main suppliers of glass fibres and wool imports to Mexico, together comprising 94% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +87.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and India ($X) were the largest glass fibres and wool suppliers to Mexico, with a combined 89% share of total imports.

Among the main suppliers, India, with a CAGR of +67.4%, saw the highest rates of growth with regard to 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

The average glass fibres and wool import price stood at $X per ton in 2022, with a decrease of -1.8% against the previous year. Overall, the import price saw a mild shrinkage. The pace of growth appeared the most rapid in 2021 an increase of 1.2%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the United States (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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