U.S.: Glass Fibre Fabrics Market 2023

Glass Fibre Fabrics Market Size in the U.S.

In 2021, after four years of growth, there was significant decline in the U.S. glass fibre fabrics market, when its value decreased by -11.4% to $X. Overall, consumption posted a resilient expansion. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Glass Fibre Fabrics Production in the U.S.

In value terms, glass fibre fabrics production shrank significantly to $X in 2021. Over the period under review, production posted a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of 50%. As a result, production reached the peak level of $X, and then dropped remarkably in the following year.

Glass Fibre Fabrics Exports

Exports from the U.S.

For the sixth year in a row, the United States recorded decline in shipments abroad of glass fibre fabrics, which decreased by -13.2% to X tons in 2021. Over the period under review, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2015 with an increase of 16% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, glass fibre fabrics exports rose sharply to $X in 2021. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 13%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Mexico (X tons) was the main destination for glass fibre fabrics exports from the United States, with a 44% share of total exports. Moreover, glass fibre fabrics exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), fourfold. The third position in this ranking was held by Italy (X tons), with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico amounted to -9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-19.7% per year) and Italy (-4.3% per year).

In value terms, the largest markets for glass fibre fabrics exported from the United States were Mexico ($X), Canada ($X) and China ($X), with a combined 56% share of total exports. These countries were followed by Germany, Italy, Japan, the UK and Costa Rica, which together accounted for a further 23%.

Among the main countries of destination, Germany, with a CAGR of +15.8%, saw the highest rates of growth with regard to 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

In 2021, the average glass fibre fabrics export price amounted to $X per ton, rising by 27% against the previous year. In general, the export price saw a resilient increase. The growth pace was the most rapid in 2020 an increase of 71%. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+19.8%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Fabrics Imports

Imports into the U.S.

After three years of decline, supplies from abroad of glass fibre fabrics increased by 7.7% to X tons in 2021. In general, imports, however, continue to indicate a perceptible downturn. The pace of growth was the most pronounced in 2014 when imports increased by 15% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, glass fibre fabrics imports rose markedly to $X in 2021. Overall, imports saw a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Mexico (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of glass fibre fabrics imports to the United States, with a combined 74% share of total imports. Canada, South Korea, India, Germany, Latvia and Japan lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +114.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), China ($X) and Germany ($X) constituted the largest glass fibre fabrics suppliers to the United States, together comprising 61% of total imports. South Korea, Taiwan (Chinese), Canada, Latvia, Japan and India lagged somewhat behind, together accounting for a further 25%.

Among the main suppliers, India, with a CAGR of +70.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average glass fibre fabrics import price amounted to $X per ton, increasing by 4% against the previous year. Over the last nine years, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 18% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Latvia (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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