GCC: Market for Multiple-Walled Insulating Units Of Glass 2024

Market Size for Multiple-Walled Insulating Units Of Glass in GCC

The GCC multiple-walled insulating glass unit market soared to $X in 2021, jumping by 15% against the previous year. The market value increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Multiple-Walled Insulating Units Of Glass in GCC

In value terms, multiple-walled insulating glass unit production expanded significantly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2019 with an increase of 18%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Exports of Multiple-Walled Insulating Units Of Glass

Exports in GCC

In 2021, shipments abroad of multiple-walled insulating units of glass increased by 40% to X square meters, rising for the second consecutive year after two years of decline. Overall, exports, however, showed a pronounced descent. The volume of export peaked at X square meters in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, multiple-walled insulating glass unit exports surged to $X in 2021. Over the period under review, exports, however, recorded a deep reduction. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, the United Arab Emirates (X square meters) was the largest exporter of multiple-walled insulating units of glass, creating 64% of total exports. It was distantly followed by Saudi Arabia (X square meters) and Bahrain (X square meters), together creating a 36% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to multiple-walled insulating glass unit exports from the United Arab Emirates stood at -8.0%. At the same time, Bahrain (+34.2%) and Saudi Arabia (+28.0%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of +34.2% from 2012-2021. Saudi Arabia (+26 p.p.) and Bahrain (+7.6 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -33.6% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) remains the largest multiple-walled insulating glass unit supplier in GCC, comprising 79% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to -7.6%. In the other countries, the average annual rates were as follows: Saudi Arabia (+27.4% per year) and Bahrain (+36.4% per year).

Export Prices by Country

The export price in GCC stood at $X per square meter in 2021, increasing by 14% against the previous year. Overall, the export price, however, continues to indicate a slight slump. The pace of growth appeared the most rapid in 2018 when the export price increased by 33%. The level of export peaked at $X per square meter in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per square meter), while Saudi Arabia ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+1.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Multiple-Walled Insulating Units Of Glass

Imports in GCC

In 2021, overseas purchases of multiple-walled insulating units of glass were finally on the rise to reach X square meters after two years of decline. Over the period under review, imports recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at X square meters in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, multiple-walled insulating glass unit imports surged to $X in 2021. In general, imports, however, continue to indicate a pronounced contraction. The growth pace was the most rapid in 2018 with an increase of 94%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Kuwait (X square meters), distantly followed by the United Arab Emirates (X square meters), Qatar (X square meters), Oman (X square meters) and Saudi Arabia (X square meters) represented the largest importers of multiple-walled insulating units of glass, together mixing up 97% of total imports. Bahrain (X square meters) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Kuwait (with a CAGR of +33.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Kuwait ($X), Qatar ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2021, with a combined 70% share of total imports.

Kuwait, with a CAGR of +25.1%, recorded 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 more modest paces of growth.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per square meter, dropping by -19% against the previous year. In general, the import price saw a perceptible decrease. The growth pace was the most rapid in 2018 an increase of 35%. Over the period under review, import prices hit record highs at $X per square meter in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform