Ethiopia: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Ethiopia

The Ethiopian glass fibres and wool market soared to $X in 2022, surging by 96% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed a strong expansion. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Exports of Glass Fibres And Glass Wool

Exports from Ethiopia

In 2021, shipments abroad of glass fibres and glass wool decreased by 0% to X kg, falling for the second year in a row after four years of decline. Over the period under review, exports recorded a deep contraction. The smallest decline of -37.5% was in 2017. Over the period under review, the exports hit record highs at X kg in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, glass fibres and wool exports amounted to $X in 2021. In general, exports continue to indicate a prominent increase. The smallest decline of -7% was in 2017. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

Nigeria (X kg) was the main destination for glass fibres and wool exports from Ethiopia, accounting for a 88% share of total exports. Moreover, glass fibres and wool exports to Nigeria exceeded the volume sent to the second major destination, Oman (X kg), sevenfold.

From 2013 to 2021, the average annual rate of growth in terms of volume to Nigeria was relatively modest.

In value terms, Oman ($X) and Nigeria ($X) appeared to be the largest markets for glass fibres and wool exported from Ethiopia worldwide.

In terms of the main countries of destination, Oman, with a CAGR of 0.0%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average glass fibres and wool export price stood at $X per ton in 2021, remaining constant against the previous year. In general, the export price enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 when the average export price increased by 49% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to Nigeria stood at $X per ton.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Oman (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Ethiopia

In 2022, overseas purchases of glass fibres and glass wool were finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports recorded prominent growth. The growth pace was the most rapid in 2013 with an increase of 139% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, glass fibres and wool imports surged to $X in 2022. In general, imports recorded a resilient increase. The growth pace was the most rapid in 2013 when imports increased by 204%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of glass fibres and wool to Ethiopia, accounting for a 74% share of total imports. Moreover, glass fibres and wool imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), sixfold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+41.8% per year) and the United Arab Emirates (+2.7% per year).

In value terms, China ($X) constituted the largest supplier of glass fibres and glass wool to Ethiopia, comprising 69% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total imports. It was followed by Italy, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+16.3% per year) and Italy (+27.9% per year).

Import Prices by Country

In 2022, the average glass fibres and wool import price amounted to $X per ton, increasing by 35% against the previous year. In general, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass fibres and wool import price decreased by -10.5% against 2020 indices. The pace of growth was the most pronounced in 2020 an increase of 80% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

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 Italy ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform