South-Eastern Asia: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in South-Eastern Asia

The Southeast Asian glass fibre mat market rose remarkably to $X in 2022, picking up by 6.2% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +17.7% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Glass Fibre Mat Production in South-Eastern Asia

In value terms, glass fibre mat production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 30% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

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Glass Fibre Mat Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of glass fibre mats decreased by -90.8% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports continue to indicate a noticeable setback. The most prominent rate of growth was recorded in 2014 when exports increased by 90%. The volume of export peaked at X tons in 2021, and then shrank notably in the following year.

In value terms, glass fibre mat exports fell markedly to $X in 2022. Overall, exports recorded a pronounced reduction. The pace of growth appeared the most rapid in 2015 when exports increased by 64%. The level of export peaked at $X in 2021, and then dropped notably in the following year.

Exports by Country

Malaysia was the main exporter of glass fibre mats in South-Eastern Asia, with the volume of exports reaching X tons, which was near 64% of total exports in 2022. It was distantly followed by Indonesia (X tons), creating a 33% share of total exports. Singapore (X tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Indonesia (with a CAGR of +55.0%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest glass fibre mat supplying countries in South-Eastern Asia were Malaysia ($X), Indonesia ($X) and Singapore ($X), with a combined 100% share of total exports.

Indonesia, with a CAGR of +67.6%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, picking up by 50% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+8.1%), while the other leaders experienced mixed trends in the export price figures.

Glass Fibre Mat Imports

Imports in South-Eastern Asia

In 2022, the amount of glass fibre mats imported in South-Eastern Asia dropped modestly to X tons, falling by -2.3% against 2021. The total import volume increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 17%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, glass fibre mat imports rose markedly to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.3% 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 +57.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 46% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

In 2022, Indonesia (X tons), distantly followed by Vietnam (X tons), Thailand (X tons), Malaysia (X tons) and the Philippines (X tons) were the largest importers of glass fibre mats, together creating 95% of total imports. The following importers - Singapore (X tons) and Myanmar (X tons) - each finished at a 4.4% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +17.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Thailand ($X) were the countries with the highest levels of imports in 2022, with a combined 77% share of total imports. Malaysia, the Philippines, Singapore and Myanmar lagged somewhat behind, together comprising a further 22%.

The Philippines, with a CAGR of +15.8%, saw the highest rates of growth with regard to the value of imports, among 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 South-Eastern Asia stood at $X per ton in 2022, growing by 10% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2021 when the import price increased by 36%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 Indonesia ($X per ton), while Myanmar ($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 Philippines (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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