Price for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in the Philippines - 2023
Contents:
- Price for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in the Philippines (CIF) - 2022
- Price for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in the Philippines (FOB) - 2023
- Imports of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in the Philippines
- Exports of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in the Philippines
Price for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in the Philippines (CIF) - 2022
In 2022, the average import price for glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) amounted to $2,917 per ton, picking up by 18% against the previous year. In general, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) increased by +39.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 51% against the previous year. As a result, import price attained the peak level of $3,208 per ton. From 2019 to 2022, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($9,490 per ton), while the price for Malaysia ($1,731 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in the Philippines (FOB) - 2023
In November 2023, the average export price for glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) amounted to $4,517 per ton, rising by 32% against the previous month. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2023 when the average export price increased by 533% month-to-month. As a result, the export price reached the peak level of $32,096 per ton. From October 2023 to November 2023, the the average export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was China ($10,163 per ton), while the average price for exports to Japan stood at $4,509 per ton.
From December 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+17.9%), 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 the Philippines
Imports of glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) into the Philippines fell to 8.7K tons in 2022, with a decrease of -8.4% on 2021. Over the period under review, imports recorded a abrupt descent. The pace of growth appeared the most rapid in 2021 when imports increased by 44%.
In value terms, imports of glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) expanded markedly to $25M in 2022. Overall, imports recorded a noticeable downturn. The growth pace was the most rapid in 2021 when imports increased by 70% against the previous year.
| Import of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 13.1 | 6.9 | 14.6 | 14.0 | 2.2% |
| Japan | 2.4 | 2.5 | 3.4 | 3.2 | 10.1% |
| Malaysia | 0.4 | 0.5 | 0.7 | 1.3 | 48.1% |
| Singapore | 1.3 | 0.4 | 0.4 | 0.8 | -14.9% |
| South Korea | 1.4 | 0.7 | 1.0 | 0.6 | -24.6% |
| Taiwan (Chinese) | 0.3 | 0.2 | 0.2 | 0.3 | 0.0% |
| Others | 9.3 | 2.7 | 3.1 | 5.2 | -17.6% |
| Total | 28.1 | 13.8 | 23.5 | 25.5 | -3.2% |
Top Suppliers of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) to the Philippines in 2022:
- China (6.8K tons)
- Malaysia (0.8K tons)
- Japan (0.3K tons)
- Taiwan (Chinese) (0.2K tons)
- Singapore (0.2K tons)
- South Korea (0.2K tons)
Exports of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in the Philippines
Exports of glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) from the Philippines fell markedly to 1.1K tons in 2022, with a decrease of -39.3% against the year before. Over the period under review, exports faced a sharp slump. The most prominent rate of growth was recorded in 2021 with an increase of 12% against the previous year.
In value terms, exports of glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) reduced notably to $5.1M in 2022. Overall, exports saw a significant contraction. The growth pace was the most rapid in 2021 with an increase of 29%.
| Export of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 4,344 | 3,463 | 6,455 | 3,287 | -8.9% |
| Canada | 184 | 43.6 | 228 | 534 | 42.6% |
| Pakistan | 506 | 569 | 1,436 | 489 | -1.1% |
| Vietnam | 24.9 | N/A | N/A | 324 | 135.2% |
| China | 4,442 | 1,617 | 76.8 | 77.8 | -74.0% |
| United States | 688 | 354 | 52.5 | 67.7 | -53.8% |
| Hong Kong SAR | 200 | 271 | 151 | 40.6 | -41.2% |
| Portugal | 0.9 | 97.5 | N/A | N/A | 10733.3% |
| Qatar | 27.1 | 492 | 370 | N/A | 269.5% |
| Others | 2,338 | 986 | 1,398 | 285 | -50.4% |
| Total | 12,757 | 7,893 | 10,166 | 5,105 | -26.3% |
Top Export Markets for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) from the Philippines in 2022:
- Japan (736.8 tons)
- Pakistan (144.2 tons)
- Vietnam (63.6 tons)
- Canada (44.6 tons)
- China (15.7 tons)
- United States (14.2 tons)
- Hong Kong SAR (9.1 tons)
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