GCC: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in GCC

The GCC glass fibre mat market dropped to $X in 2022, with a decrease of -12.9% against the previous year. The total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +7.2% against 2020 indices. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Glass Fibre Mat Production in GCC

In value terms, glass fibre mat production fell to $X in 2022 estimated in export price. In general, production, however, showed resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 123%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Glass Fibre Mat Exports

Exports in GCC

In 2022, overseas shipments of glass fibre mats were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of 105%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass fibre mat exports rose sharply to $X in 2022. Overall, exports enjoyed prominent growth. The growth pace was the most rapid in 2013 with an increase of 88%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Bahrain (X tons) and Saudi Arabia (X tons) represented roughly 97% of total exports in 2022. Oman (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Oman (with a CAGR of +40.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibre mat supplying countries in GCC were the United Arab Emirates ($X), Bahrain ($X) and Saudi Arabia ($X), together accounting for 98% of total exports. Oman lagged somewhat behind, accounting for a further 1.7%.

Among the main exporting countries, Oman, with a CAGR of +39.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, rising by 5.6% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 18% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 (+5.5%), while the other leaders experienced a decline in the export price figures.

Glass Fibre Mat Imports

Imports in GCC

After two years of decline, purchases abroad of glass fibre mats increased by 1.3% to X tons in 2022. Total imports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -19.9% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 65% against the previous year. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, glass fibre mat imports fell to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 36%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) prevails in imports structure, together mixing up 75% of total imports. It was distantly followed by Qatar (X tons) and Oman (X tons), together mixing up a 19% share of total imports. Bahrain (X tons) and Kuwait (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Oman (with a CAGR of +9.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Qatar ($X) were the countries with the highest levels of imports in 2022, with a combined 83% share of total imports. Oman, Bahrain and Kuwait lagged somewhat behind, together accounting for a further 17%.

Oman, with a CAGR of +11.8%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with a decrease of -14.8% against the previous year. Over the period under review, the import price continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2021 when the import price increased by 43% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+2.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform