Puerto Rico: Worked Flat Glass Market 2024

Worked Flat Glass Market Size in Puerto Rico

In 2021, the Puerto Rican worked flat glass market was finally on the rise to reach $X after two years of decline. In general, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -33.4% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Worked Flat Glass Production in Puerto Rico

In value terms, worked flat glass production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -33.8% against 2018 indices. The pace of growth was the most pronounced in 2016 with an increase of 51%. Puerto Rico production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

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Worked Flat Glass Exports

Exports from Puerto Rico

Worked flat glass exports from Puerto Rico stood at less than X kg in 2021, flattening at the previous year's figure. Over the period under review, exports saw a relatively flat trend pattern.

In value terms, worked flat glass exports totaled less than $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern.

Exports by Country

In 2021, China (X tons) was the largest exporter of worked flat glass, making up 46% of total exports. Singapore (X tons) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (9.1%) and Taiwan (Chinese) (6.8%). The Czech Republic (X tons), Turkey (X tons), Belgium (X tons), Spain (X tons), Hong Kong SAR (X tons), France (X tons), Italy (X tons) and Japan (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to worked flat glass exports from China stood at +5.4%. At the same time, South Korea (+25.9%), France (+17.1%), Singapore (+16.1%), Turkey (+15.0%), Taiwan (Chinese) (+6.4%), Hong Kong SAR (+1.9%) and Italy (+1.7%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in the world, with a CAGR of +25.9% from 2012-2021. By contrast, Spain (-1.6%), the Czech Republic (-4.4%), Belgium (-7.2%) and Japan (-8.1%) illustrated a downward trend over the same period. While the share of Singapore (+7.9 p.p.), South Korea (+7.3 p.p.) and Turkey (+1.9 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Spain (-1.6 p.p.), Japan (-3.2 p.p.), Belgium (-4.6 p.p.) and the Czech Republic (-4.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), South Korea ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of exports in 2021, with a combined 52% share of total exports. Japan, Singapore, Hong Kong SAR, France, Italy, the Czech Republic, Spain, Belgium and Turkey lagged somewhat behind, together comprising a further 36%.

Among the main exporting countries, France, with a CAGR of +25.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, approximately reflecting the previous year. Overall, the export price continues to indicate a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+7.4%), while the other leaders experienced more modest paces of growth.

Worked Flat Glass Imports

Imports into Puerto Rico

In 2021, the amount of worked flat glass imported into Puerto Rico stood at less than X kg, flattening at 2020 figures. Over the period under review, imports saw a relatively flat trend pattern.

In value terms, worked flat glass imports stood at less than $X in 2021. Overall, imports saw a relatively flat trend pattern.

Imports by Country

Singapore was the key importing country with an import of around X tons, which reached 34% of total imports. China (X tons) ranks second in terms of the total imports with a 10% share, followed by Hong Kong SAR (9.2%) and Vietnam (6.6%). Germany (X tons), Taiwan (Chinese) (X tons), the United States (X tons), Malaysia (X tons), South Korea (X tons), Japan (X tons), Saudi Arabia (X tons), Iraq (X tons) and Belgium (X tons) took a minor share of total imports.

Imports into Singapore increased at an average annual rate of +6.7% from 2012 to 2021. At the same time, Vietnam (+55.4%), Iraq (+49.6%), Saudi Arabia (+48.5%), China (+15.3%), Hong Kong SAR (+10.9%), Malaysia (+10.1%) and Taiwan (Chinese) (+8.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in the world, with a CAGR of +55.4% from 2012-2021. By contrast, Japan (-1.2%), Germany (-3.9%), South Korea (-7.0%), the United States (-8.9%) and Belgium (-11.9%) illustrated a downward trend over the same period. While the share of Vietnam (+6.4 p.p.), China (+5.9 p.p.), Singapore (+4.9 p.p.), Hong Kong SAR (+3.6 p.p.), Saudi Arabia (+1.7 p.p.) and Iraq (+1.6 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Belgium (-2.6 p.p.), South Korea (-3.7 p.p.), Germany (-3.9 p.p.) and the United States (-5.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Singapore ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2021, with a combined 50% share of total imports. These countries were followed by South Korea, Hong Kong SAR, Taiwan (Chinese), the United States, Vietnam, Malaysia, Germany, Saudi Arabia, Belgium and Iraq, which together accounted for a further 38%.

Vietnam, with a CAGR of +42.9%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, leveling off at the previous year. Over the period under review, the import price saw a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+14.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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