GCC: Flat Glass Market 2024

Flat Glass Market Size in GCC

For the sixth year in a row, the GCC flat glass market recorded growth in sales value, which increased by 1.9% to $X in 2021. The total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +43.8% against 2014 indices. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Flat Glass Production in GCC

In value terms, flat glass production dropped modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 14% against the previous year. The level of production peaked at $X in 2020, and then shrank in the following year.

Flat Glass Exports

Exports in GCC

In 2021, overseas shipments of flat glass were finally on the rise to reach X tons after two years of decline. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 19%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, flat glass exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Saudi Arabia (X tons) was the largest exporter of flat glass, mixing up 69% of total exports. It was distantly followed by the United Arab Emirates (X tons), making up a 30% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the flat glass exports, with a CAGR of +2.2% from 2012 to 2021. The United Arab Emirates (-3.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Saudi Arabia increased by +11 percentage points.

In value terms, Saudi Arabia ($X) remains the largest flat glass supplier in GCC, comprising 72% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia amounted to +10.1%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, jumping by 38% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.8%).

Flat Glass Imports

Imports in GCC

In 2021, approx. X tons of flat glass were imported in GCC; picking up by 2.1% compared with 2020 figures. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 24%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, flat glass imports soared to $X in 2021. The total import value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 24%. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates represented the main importing country with an import of around X tons, which resulted at 40% of total imports. Qatar (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Saudi Arabia (14%), Kuwait (12%), Oman (12%) and Bahrain (7.1%).

From 2012 to 2021, average annual rates of growth with regard to flat glass imports into the United Arab Emirates stood at +4.7%. At the same time, Qatar (+8.6%), Bahrain (+6.3%), Oman (+5.2%) and Kuwait (+1.6%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +8.6% from 2012-2021. Saudi Arabia experienced a relatively flat trend pattern. While the share of Qatar (+5.1 p.p.) and the United Arab Emirates (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Kuwait (-2.9 p.p.) and Saudi Arabia (-6.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported flat glass in GCC, comprising 47% of total imports. The second position in the ranking was held by Qatar ($X), with a 15% share of total imports. It was followed by Kuwait, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates stood at +5.6%. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+5.3% per year) and Kuwait (+6.0% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, with an increase of 13% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform