Southern Asia: Flat Glass Market 2024

Flat Glass Market Size in Southern Asia

After six years of growth, the South Asian flat glass market decreased by -4.3% to $X in 2021. The market value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then reduced modestly in the following year.

Flat Glass Production in Southern Asia

In value terms, flat glass production reduced to $X in 2021 estimated in export price. The total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +52.5% against 2014 indices. The most prominent rate of growth was recorded in 2020 with an increase of 16%. As a result, production reached the peak level of $X, and then shrank in the following year.

Flat Glass Exports

Exports in Southern Asia

In 2021, exports of flat glass in Southern Asia soared to X tons, growing by 24% compared with the previous year. Total exports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -12.0% against 2019 indices. The pace of growth appeared the most rapid in 2018 when exports increased by 77%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, flat glass exports skyrocketed to $X in 2021. Total exports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -7.3% against 2018 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 92%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

India dominates exports structure, resulting at X tons, which was near 91% of total exports in 2021. It was distantly followed by Pakistan (X tons), making up a 6.5% share of total exports. Bangladesh (X tons) took a relatively small share of total exports.

India was also the fastest-growing in terms of the flat glass exports, with a CAGR of +5.1% from 2012 to 2021. At the same time, Pakistan (+1.4%) displayed positive paces of growth. By contrast, Bangladesh (-2.3%) illustrated a downward trend over the same period. India (+4.2 p.p.) significantly strengthened its position in terms of the total exports, while Pakistan and Bangladesh saw its share reduced by -2% and -2.1% from 2012 to 2021, respectively.

In value terms, India ($X) remains the largest flat glass supplier in Southern Asia, comprising 88% of total exports. The second position in the ranking was taken by Pakistan ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value in India stood at +4.9%. In the other countries, the average annual rates were as follows: Pakistan (+7.2% per year) and Bangladesh (-9.0% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, surging by 8.4% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 42% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Pakistan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+5.7%), while the other leaders experienced a decline in the export price figures.

Flat Glass Imports

Imports in Southern Asia

In 2021, overseas purchases of flat glass increased by 25% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports recorded a moderate expansion. The pace of growth appeared the most rapid in 2014 with an increase of 43% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, flat glass imports surged to $X in 2021. Total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -18.3% against 2018 indices. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) was the major importer of flat glass, comprising 73% of total imports. Nepal (X tons) held a 10% share (based on physical terms) of total imports, which put it in second place, followed by Sri Lanka (8.6%) and Bangladesh (5.4%). Afghanistan (X tons) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +6.1% from 2012 to 2021. At the same time, Nepal (+9.3%) and Sri Lanka (+1.9%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +9.3% from 2012-2021. By contrast, Bangladesh (-8.1%) and Afghanistan (-10.1%) illustrated a downward trend over the same period. India (+13 p.p.) and Nepal (+3.9 p.p.) significantly strengthened its position in terms of the total imports, while Afghanistan and Bangladesh saw its share reduced by -4.2% and -10.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported flat glass in Southern Asia, comprising 75% of total imports. The second position in the ranking was taken by Nepal ($X), with a 10% share of total imports. It was followed by Sri Lanka, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India amounted to +5.9%. The remaining importing countries recorded the following average annual rates of imports growth: Nepal (+11.9% per year) and Sri Lanka (+2.9% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, increasing by 16% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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