GCC: Market for Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like 2024

Market Size for Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like in GCC

The GCC articles of fiber cement market totaled $X in 2022, rising by 1.6% against the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Production of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like in GCC

In value terms, articles of fiber cement production rose remarkably to $X in 2022 estimated in export price. The total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +34.1% against 2019 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 126%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Exports of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

Exports in GCC

In 2022, overseas shipments of articles of asbestos-cement, cellulose fiber-cement or the like decreased by -39.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports saw a deep contraction. The pace of growth appeared the most rapid in 2016 when exports increased by 81%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, articles of fiber cement exports shrank markedly to $X in 2022. In general, exports showed a perceptible decline. The growth pace was the most rapid in 2017 with an increase of 96%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Saudi Arabia was the largest exporting country with an export of about X tons, which reached 72% of total exports. It was distantly followed by the United Arab Emirates (X tons) and Oman (X tons), together comprising a 26% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the articles of asbestos-cement, cellulose fiber-cement or the like exports, with a CAGR of +14.9% from 2012 to 2022. Oman (-8.5%) and the United Arab Emirates (-18.9%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+63 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-62.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest articles of fiber cement supplying countries in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Oman ($X), with a combined 93% share of total exports.

Saudi Arabia, with a CAGR of +12.3%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, with a decrease of -4.9% against the previous year. Export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the export price increased by 37%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, 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 the United Arab Emirates ($X per ton), while Saudi Arabia ($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 (+9.8%), while the other leaders experienced a decline in the export price figures.

Imports of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

Imports in GCC

In 2022, imports of articles of asbestos-cement, cellulose fiber-cement or the like in GCC skyrocketed to X tons, with an increase of 18% on 2021. In general, imports posted pronounced growth. The pace of growth was the most pronounced in 2014 with an increase of 57%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, articles of fiber cement imports amounted to $X in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 37% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the major importer of articles of asbestos-cement, cellulose fiber-cement or the like, constituting 60% of total imports. Qatar (X tons) took a 27% share (based on physical terms) of total imports, which put it in second place, followed by Oman (7.5%). Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to articles of fiber cement imports into the United Arab Emirates stood at +3.2%. At the same time, Qatar (+16.7%) and Kuwait (+12.1%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +16.7% from 2012-2022. Oman experienced a relatively flat trend pattern. From 2012 to 2022, the share of Qatar, the United Arab Emirates and Kuwait increased by +20, +5.2 and +1.6 percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported articles of asbestos-cement, cellulose fiber-cement or the like in GCC, comprising 50% of total imports. The second position in the ranking was held by Qatar ($X), with a 25% share of total imports. It was followed by Oman, with a 9.8% share.

In the United Arab Emirates, articles of fiber cement imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+6.1% per year) and Oman (+0.4% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, with a decrease of -13.2% against the previous year. In general, the import price recorded a noticeable contraction. The pace of growth was the most pronounced in 2016 when the import price increased by 19% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform