Price for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in Pakistan - 2023
Contents:
- Price for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in Pakistan (CIF) - 2023
- Price for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in Pakistan (FOB) - 2022
- Imports of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in Pakistan
- Exports of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in Pakistan
Price for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in Pakistan (CIF) - 2023
In July 2023, the average import price for glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) amounted to $1,978 per ton, waning by -56.8% against the previous month. In general, the import price continues to indicate a pronounced descent. The pace of growth was the most pronounced in January 2023 when the average import price increased by 31% month-to-month. The import price peaked at $4,627 per ton in May 2023; however, from June 2023 to July 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Kuwait ($6,273 per ton), while the price for Turkey ($1,016 per ton) was amongst the lowest.
From August 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Kuwait (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in Pakistan (FOB) - 2022
In 2022, the average export price for glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) amounted to $1,847 per ton, declining by -43.7% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2014 when the average export price increased by 141%. The export price peaked at $6,512 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($3,357 per ton), while the average price for exports to Saudi Arabia ($1,287 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+69.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in Pakistan
After three years of growth, overseas purchases of glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) decreased by -21% to 13K tons in 2022. Overall, imports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2020 when imports increased by 98% against the previous year.
In value terms, imports of glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) reduced sharply to $34M in 2022. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +8.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +26.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 29% against the previous year. As a result, imports reached the peak of $42M, and then dropped remarkably in the following year.
| Import of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in Pakistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 11.2 | 15.6 | 17.5 | 13.6 | 6.7% |
| Thailand | 5.7 | 7.5 | 10.5 | 9.9 | 20.2% |
| Taiwan (Chinese) | 3.1 | 3.6 | 4.9 | 5.1 | 18.1% |
| Japan | 2.3 | 2.9 | 3.7 | 2.0 | -4.6% |
| Kuwait | 0.7 | 0.6 | 1.2 | 1.0 | 12.6% |
| Philippines | 0.5 | 0.5 | 1.4 | 0.5 | 0.0% |
| Turkey | 0.5 | 0.5 | 0.4 | 0.3 | -15.7% |
| Others | 2.8 | 1.6 | 2.7 | 1.5 | -18.8% |
| Total | 26.9 | 32.8 | 42.2 | 33.9 | 8.0% |
Top Suppliers of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) to Pakistan in 2022:
- China (5.3K tons)
- Thailand (3.1K tons)
- Taiwan (Chinese) (1.5K tons)
- Japan (1.4K tons)
- Turkey (0.3K tons)
- Kuwait (0.3K tons)
- Philippines (0.2K tons)
Exports of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in Pakistan
In 2022, exports of glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) from Pakistan soared to 33 tons, picking up by 22% on the previous year. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 156%. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, exports of glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) shrank significantly to $62K in 2022. Overall, exports saw significant growth. The growth pace was the most rapid in 2021 when exports increased by 299% against the previous year. As a result, the exports reached the peak of $90K, and then declined sharply in the following year.
| Export of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | 17.9 | 19.4 | 12.4 | 22.7 | 8.2% |
| United Arab Emirates | 0.8 | N/A | N/A | 16.3 | 173.1% |
| United States | 1.1 | N/A | N/A | 15.1 | 139.4% |
| France | N/A | N/A | 3.2 | 2.3 | -28.1% |
| United Kingdom | 0.1 | 0.5 | 1.8 | 2.1 | 175.9% |
| Tanzania | 0.6 | 0.1 | 4.1 | 1.7 | 41.5% |
| Belgium | N/A | N/A | 51.9 | N/A | 0% |
| Afghanistan | N/A | N/A | 4.8 | N/A | 0% |
| Others | 8.7 | 2.5 | 11.8 | 1.5 | -44.3% |
| Total | 29.3 | 22.6 | 90.1 | 61.8 | 28.2% |
Top Export Markets for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) from Pakistan in 2022:
- Saudi Arabia (17.7 tons)
- United Arab Emirates (8.3 tons)
- United States (4.5 tons)
- France (0.9 tons)
- United Kingdom (0.9 tons)
- Tanzania (0.5 tons)
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