November 2024 PV Glass Export Data Brief Analysis [SMM Analysis]

In November 2024, China's PV glass export volume reached 224,800 mt, down 24.74% YoY and 5.05% MoM. Among these, exports to India were the largest, totaling 78,300 mt, down 10.92% MoM. Currently, Indian domestic enterprises still exhibit strong resistance to Chinese products, with demand continuing to decline in recent months. The US ranked second, with a trade volume of 37,100 mt, a significant increase of 70.18% MoM, marking two consecutive months of growth.

By specific trading partners, in November, China's exports to India were the largest, with a volume of 78,300 mt, down 10.92% MoM. Indian demand has been continuously declining. As the preliminary ruling on China's glass sanctions by the Indian government progresses, India's demand has decreased for three consecutive months and is expected to continue declining. However, currently, India's domestic glass production cannot fully meet its own demand, necessitating external supply. The top 5 export destinations in November were India, the US, Indonesia, Vietnam, and Thailand, with no changes in the ranking. The top 5 accounted for 69.43% of total exports, a noticeable decrease compared to October, indicating increased demand concentration.

Compared to October data, China's exports to India totaled 78,300 mt, down 10.92% MoM, accounting for 36.81% of total exports. Exports to the US reached 37,100 mt, a significant increase of 70.18% MoM, accounting for 16.52% of total exports. Exports to Indonesia were 15,500 mt, up 98.72% MoM, rising to the third position in trade volume. Exports to Vietnam were 14,000 mt, down 11.39% MoM, accounting for 6.24% of total exports. Exports to Thailand were 11,200 mt, accounting for 4.97% of total exports, with a MoM increase of 36.59%, an increment of 3,000 mt.