ASEAN: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in ASEAN

The ASEAN glass fibre chopped strand market shrank to $X in 2022, approximately equating the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Glass Fibre Chopped Strands in ASEAN

In value terms, glass fibre chopped strand production fell modestly to $X in 2022 estimated in export price. The total production indicated mild growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Glass Fibre Chopped Strands

Exports in ASEAN

In 2022, shipments abroad of glass fibre chopped strands decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Total exports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted sharply in the following year.

In value terms, glass fibre chopped strand exports totaled $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of glass fibre chopped strands, namely Malaysia, represented more than two-thirds of total export.

Malaysia was also the fastest-growing in terms of the glass fibre chopped strands exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) also remains the largest glass fibre chopped strand supplier in ASEAN.

In Malaysia, glass fibre chopped strand exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Malaysia.

From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to X% per year.

Imports of Glass Fibre Chopped Strands

Imports in ASEAN

In 2022, the amount of glass fibre chopped strands imported in ASEAN reduced to X tons, which is down by X% against 2021 figures. Total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, glass fibre chopped strand imports declined modestly to $X in 2022. Total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

Thailand was the largest importer of glass fibre chopped strands in ASEAN, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2022. Malaysia (X tons) held the second position in the ranking, distantly followed by Indonesia (X tons), Singapore (X tons) and Vietnam (X tons). All these countries together took approx. X% share of total imports. The Philippines (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to glass fibre chopped strand imports into Thailand stood at X%. At the same time, Vietnam (X%), the Philippines (X%), Singapore (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. Malaysia experienced a relatively flat trend pattern. While the share of Vietnam (X p.p.), Singapore (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported glass fibre chopped strands in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Thailand totaled X%. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Indonesia (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 the Philippines ($X per ton), while Singapore ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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