Asia: Worked Flat Glass Market 2024

Worked Flat Glass Market Size in Asia

After three years of growth, the Asian worked flat glass market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2022, and then fell in the following year.

Worked Flat Glass Production in Asia

In value terms, worked flat glass production rose to $X in 2023 estimated in export price. The total production indicated a temperate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. The level of production peaked in 2023 and is likely to see gradual growth in the near future.

Worked Flat Glass Exports

Exports in Asia

Worked flat glass exports skyrocketed to X tons in 2023, increasing by X% compared with the year before. Over the period under review, exports posted a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of X%. The volume of export peaked in 2023 and is expected to retain growth in the immediate term.

In value terms, worked flat glass exports contracted to $X in 2023. In general, exports, however, saw a slight downturn. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

China was the major exporter of worked flat glass in Asia, with the volume of exports amounting to X tons, which was near X% of total exports in 2023. Singapore (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (X%) and Taiwan (Chinese) (X%).

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, South Korea (X%), Singapore (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Singapore, South Korea and China increased by X, X and X percentage points, respectively.

In value terms, the largest worked flat glass supplying countries in Asia were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined X% share of total exports. These countries were followed by Singapore, which accounted for a further X%.

Among the main exporting countries, Singapore, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, declining by X% against the previous year. Over the period under review, the export price saw a deep downturn. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced a decline in the export price figures.

Worked Flat Glass Imports

Imports in Asia

In 2023, supplies from abroad of worked flat glass decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, showed moderate growth. 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. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, worked flat glass imports declined markedly to $X in 2023. Overall, imports saw a noticeable reduction. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

South Korea represented the largest importing country with an import of about X tons, which reached X% of total imports. China (X tons) held the second position in the ranking, followed by India (X tons), Singapore (X tons) and Vietnam (X tons). All these countries together took approx. X% share of total imports. Taiwan (Chinese) (X tons) and Iraq (X tons) followed a long way behind the leaders.

South Korea experienced a relatively flat trend pattern with regard to volume of imports of worked flat glass. At the same time, Vietnam (X%), Iraq (X%), India (X%), China (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. By contrast, Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Vietnam, India, China and Iraq increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), South Korea ($X) and Taiwan (Chinese) ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of total imports. Singapore, Vietnam, India and Iraq lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Iraq, with a CAGR of X%, 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

The import price in Asia stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the import price continues to indicate a noticeable decline. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2023, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform