Global Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size

For the third year in a row, the global glass fibre mat market recorded growth in sales value, which increased by 6.1% to $X in 2022. The market value increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market attained the maximum level in 2022 and is likely to see steady growth in years to come.

Glass Fibre Mat Production

In value terms, glass fibre mat production totaled $X in 2022 estimated in export price. In general, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +16.3% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of 22%. Global production peaked in 2022 and is likely to see gradual growth in years to come.

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Glass Fibre Mat Exports

Exports

In 2022, approx. X tons of glass fibre mats were exported worldwide; reducing by -16.2% on 2021. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when exports increased by 26%. Over the period under review, the global exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, glass fibre mat exports shrank to $X in 2022. The total export value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 23%. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

China was the major exporter of glass fibre mats in the world, with the volume of exports accounting for X tons, which was approx. 39% of total exports in 2022. The United States (X tons) took the second position in the ranking, followed by Italy (X tons), France (X tons) and Germany (X tons). All these countries together took near 31% share of total exports. Taiwan (Chinese) (X tons), Belgium (X tons), Canada (X tons), the UK (X tons), Mexico (X tons), Poland (X tons) and South Korea (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +13.5% from 2012 to 2022. At the same time, Mexico (+20.0%), the UK (+15.4%), Taiwan (Chinese) (+4.0%) and Poland (+1.4%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in the world, with a CAGR of +20.0% from 2012-2022. Italy and France experienced a relatively flat trend pattern. By contrast, Belgium (-2.1%), the United States (-3.6%), Germany (-4.7%), South Korea (-4.9%) and Canada (-6.4%) illustrated a downward trend over the same period. While the share of China (+27 p.p.), the UK (+2.1 p.p.) and Mexico (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Canada (-3.3 p.p.), Germany (-4.5 p.p.) and the United States (-6.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Germany ($X) and the United States ($X) constituted the countries with the highest levels of exports in 2022, with a combined 49% share of global exports. Italy, France, Belgium, Canada, Mexico, Taiwan (Chinese), the UK, Poland and South Korea lagged somewhat behind, together accounting for a further 37%.

Mexico, with a CAGR of +26.9%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average glass fibre mat export price stood at $X per ton in 2022, with an increase of 2.2% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 8.5% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.7%), while the other global leaders experienced more modest paces of growth.

Glass Fibre Mat Imports

Imports

In 2022, approx. X tons of glass fibre mats were imported worldwide; which is down by -9.4% on 2021 figures. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 20%. Over the period under review, global imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, glass fibre mat imports contracted to $X in 2022. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 32% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, the United States (X tons), Germany (X tons), Canada (X tons), France (X tons), India (X tons), Japan (X tons), Mexico (X tons), Italy (X tons), Poland (X tons), South Korea (X tons), Spain (X tons) and the UK (X tons) was the key importer of glass fibre mats in the world, constituting 64% of total import. Indonesia (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by India (with a CAGR of +21.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest glass fibre mat importing markets worldwide were the United States ($X), France ($X) and Mexico ($X), together comprising 24% of global imports. Canada, Germany, Italy, India, South Korea, Japan, Poland, Indonesia, Spain and the UK lagged somewhat behind, together accounting for a further 39%.

Among the main importing countries, India, with a CAGR of +17.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average glass fibre mat import price amounted to $X per ton, remaining stable against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 11% against the previous year. As a result, import price reached the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Germany ($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 (+5.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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