Myanmar: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in Myanmar

In 2022, the Myanmar's glass fibre mat market decreased by 99.9% to less than $X, falling for the second year in a row after two years of decline. Overall, consumption, however, continues to indicate a sharp decline. The most prominent rate of growth was recorded in 2021 with a decrease of -6.2%. Glass fibre mat consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Glass Fibre Mat Production in Myanmar

In value terms, glass fibre mat production contracted slightly to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of 38%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Glass Fibre Mat Exports

Exports from Myanmar

In 2021, the amount of glass fibre mats exported from Myanmar skyrocketed to X tons, rising by 78% on 2020 figures. Overall, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre mat exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons) was the main destination for glass fibre mat exports from Myanmar, accounting for a 56% share of total exports. Moreover, glass fibre mat exports to India exceeded the volume sent to the second major destination, Spain (X tons), fourfold. The third position in this ranking was held by the UK (X tons), with a 7.4% share.

From 2018 to 2021, the average annual rate of growth in terms of volume to India totaled +21.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+471.2% per year) and the UK (+1,257.9% per year).

In value terms, India ($X) remains the key foreign market for glass fibre mats exports from Myanmar, comprising 44% of total exports. The second position in the ranking was taken by Spain ($X), with a 15% share of total exports. It was followed by the UK, with a 9.8% share.

From 2018 to 2021, the average annual growth rate of value to India stood at +62.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+745.6% per year) and the UK (+1,161.1% per year).

Export Prices by Country

The average glass fibre mat export price stood at $X per ton in 2021, with an increase of 14% against the previous year. In general, the export price, however, continues to indicate a abrupt curtailment. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2018 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+86.9%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Mat Imports

Imports into Myanmar

In 2022, after four years of growth, there was significant decline in purchases abroad of glass fibre mats, when their volume decreased by -37.3% to X tons. In general, imports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of 181%. Imports peaked at X tons in 2021, and then shrank notably in the following year.

In value terms, glass fibre mat imports declined dramatically to $X in 2022. Overall, imports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 300% against the previous year. Imports peaked at $X in 2021, and then contracted markedly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of glass fibre mat to Myanmar, accounting for a 83% share of total imports. Moreover, glass fibre mat imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), sevenfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +24.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+32.6% per year) and Taiwan (Chinese) (+0.8% per year).

In value terms, China ($X) constituted the largest supplier of glass fibre mats to Myanmar, comprising 88% of total imports. The second position in the ranking was held by Thailand ($X), with a 7.4% share of total imports. It was followed by Spain, with a 0.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +19.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+20.2% per year) and Spain (-19.8% per year).

Import Prices by Country

The average glass fibre mat import price stood at $X per ton in 2022, surging by 2.4% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2018 an increase of 42%. The import price peaked at $X per ton in 2012; however, from 2013 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 Spain ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (-0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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