Southern Asia: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Southern Asia

The South Asian glass fibres and wool market expanded slightly to $X in 2022, with an increase of 2.9% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +1.5% against 2019 indices. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the near future.

Production of Glass Fibres And Glass Wool in Southern Asia

In value terms, glass fibres and wool production fell modestly to $X in 2022 estimated in export price. The total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.6% against 2019 indices. The growth pace was the most rapid in 2016 when the production volume increased by 24% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Exports of Glass Fibres And Glass Wool

Exports in Southern Asia

In 2022, after four years of growth, there was significant decline in shipments abroad of glass fibres and glass wool, when their volume decreased by -22.5% to X tons. In general, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 80% against the previous year. As a result, the exports attained the peak of X tons, and then fell rapidly in the following year.

In value terms, glass fibres and wool exports fell to $X in 2022. Overall, exports, however, saw prominent growth. The pace of growth appeared the most rapid in 2014 when exports increased by 100%. Over the period under review, the exports hit record highs at $X in 2021, and then reduced in the following year.

Exports by Country

India dominates exports structure, amounting to X tons, which was near 98% of total exports in 2022. Sri Lanka (X tons) took a relatively small share of total exports.

India was also the fastest-growing in terms of the glass fibres and glass wool exports, with a CAGR of +6.7% from 2012 to 2022. Sri Lanka (-1.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India increased by +2.6 percentage points.

In value terms, India ($X) remains the largest glass fibres and wool supplier in Southern Asia, comprising 95% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 4.8% share of total exports.

In India, glass fibres and wool exports expanded at an average annual rate of +13.5% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, growing by 11% against the previous year. Export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 an increase of 32%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while India amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.4%).

Imports of Glass Fibres And Glass Wool

Imports in Southern Asia

In 2022, approx. X tons of glass fibres and glass wool were imported in Southern Asia; growing by 32% against the year before. In general, imports saw a prominent increase. The growth pace was the most rapid in 2018 with an increase of 57% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, glass fibres and wool imports soared to $X in 2022. Over the period under review, imports recorded a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India dominates imports structure, recording X tons, which was approx. 86% of total imports in 2022. It was distantly followed by Bangladesh (X tons), making up a 9.3% share of total imports. Pakistan (X tons) held a relatively small share of total imports.

Imports into India increased at an average annual rate of +15.0% from 2012 to 2022. At the same time, Bangladesh (+20.7%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +20.7% from 2012-2022. Pakistan experienced a relatively flat trend pattern. India (+8.2 p.p.) and Bangladesh (+4.1 p.p.) significantly strengthened its position in terms of the total imports, while Pakistan saw its share reduced by -6.6% from 2012 to 2022, respectively.

In value terms, India ($X) constitutes the largest market for imported glass fibres and glass wool in Southern Asia, comprising 82% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 9.8% share of total imports.

In India, glass fibres and wool imports expanded at an average annual rate of +11.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bangladesh (+25.8% per year) and Pakistan (+10.8% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, the import price, however, saw a mild decline. The growth pace was the most rapid in 2017 an increase of 29% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Pakistan ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+11.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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