Bahrain: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Bahrain

In 2022, after three years of growth, there was significant decline in the Bahraini glass fibres and wool market, when its value decreased by -10.5% to $X. In general, consumption, however, saw prominent growth. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Glass Fibres And Glass Wool in Bahrain

In value terms, glass fibres and wool production amounted to less than $X in 2022 estimated in export price. Overall, production faced a sharp setback. The pace of growth appeared the most rapid in 2014 with a decrease of -32.3%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Glass Fibres And Glass Wool

Exports from Bahrain

In 2022, the amount of glass fibres and glass wool exported from Bahrain reduced rapidly to X tons, waning by -23.4% on 2021. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 63%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, glass fibres and wool exports dropped to $X in 2022. Overall, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -7.2% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 122% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

France (X tons) was the main destination for glass fibres and wool exports from Bahrain, accounting for a 53% share of total exports. Moreover, glass fibres and wool exports to France exceeded the volume sent to the second major destination, Germany (X tons), fourfold. Saudi Arabia (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to France stood at +9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+8.4% per year) and Saudi Arabia (-3.4% per year).

In value terms, France ($X) remains the key foreign market for glass fibres and glass wool exports from Bahrain, comprising 49% of total exports. The second position in the ranking was taken by Germany ($X), with a 15% share of total exports. It was followed by Saudi Arabia, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to France amounted to +11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+13.4% per year) and Saudi Arabia (-1.7% per year).

Export Prices by Country

The average glass fibres and wool export price stood at $X per ton in 2022, picking up by 24% against the previous year. Over the last decade, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2013 an increase of 46% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the United Arab Emirates ($X 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 the United Arab Emirates (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Bahrain

After two years of decline, purchases abroad of glass fibres and glass wool increased by 1.1% to X tons in 2022. Over the period under review, imports, however, continue to indicate a mild reduction. The pace of growth was the most pronounced in 2016 with an increase of 61%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, glass fibres and wool imports contracted to $X in 2022. In general, imports, however, continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2017 when imports increased by 52% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest supplier of glass fibres and wool to Bahrain, with a 57% share of total imports. Moreover, glass fibres and wool imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold. Kuwait (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia amounted to -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+24.1% per year) and Kuwait (-7.1% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of glass fibres and glass wool to Bahrain, comprising 47% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total imports. It was followed by Kuwait, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Saudi Arabia stood at -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+15.2% per year) and Kuwait (-8.1% per year).

Import Prices by Country

In 2022, the average glass fibres and wool import price amounted to $X per ton, shrinking by -7.8% against the previous year. In general, the import price recorded a mild slump. The growth pace was the most rapid in 2019 an increase of 24% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform