GCC: Market for Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards 2024

Market Size for Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards in GCC

The GCC non-woven glass fibre articles market declined to $X in 2021, waning by -9.7% against the previous year. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Production of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards in GCC

In value terms, non-woven glass fibre articles production totaled $X in 2021 estimated in export price. Overall, production showed a pronounced reduction. The pace of growth appeared the most rapid in 2016 when the production volume increased by 32%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Exports of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards

Exports in GCC

After four years of decline, shipments abroad of non-woven glass fibre webs, felts, mattresses and boards increased by 0.8% to X tons in 2021. In general, exports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2016 when exports increased by 4.6%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, non-woven glass fibre articles exports contracted slightly to $X in 2021. Over the period under review, exports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2019 with an increase of 94% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Kuwait (X tons) and the United Arab Emirates (X tons) represented the major exporters of non-woven glass fibre webs, felts, mattresses and boards in GCC, together resulting at approx. 78% of total exports. Bahrain (X tons) ranks next in terms of the total exports with an 11% share, followed by Saudi Arabia (11%).

From 2012 to 2021, the biggest increases were recorded for Bahrain (with a CAGR of +79.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Bahrain ($X) were the countries with the highest levels of exports in 2021, with a combined 93% share of total exports.

Bahrain, with a CAGR of +71.9%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, reducing by -3.6% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 114% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by Kuwait (-2.1%), while the other leaders experienced a decline in the export price figures.

Imports of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards

Imports in GCC

In 2021, supplies from abroad of non-woven glass fibre webs, felts, mattresses and boards decreased by -19.2% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 87%. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, non-woven glass fibre articles imports expanded sharply to $X in 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 174%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the major importer of non-woven glass fibre webs, felts, mattresses and boards in GCC, with the volume of imports reaching X tons, which was approx. 70% of total imports in 2021. Qatar (X tons) ranks second in terms of the total imports with a 14% share, followed by Saudi Arabia (4.9%). The following importers - Oman (X tons), Bahrain (X tons) and Kuwait (X tons) - together made up 11% of total imports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of non-woven glass fibre webs, felts, mattresses and boards. At the same time, Qatar (+43.2%) and Bahrain (+7.1%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +43.2% from 2012-2021. Oman experienced a relatively flat trend pattern. By contrast, Kuwait (-3.1%) and Saudi Arabia (-16.3%) illustrated a downward trend over the same period. While the share of Qatar (+14 p.p.), the United Arab Emirates (+3.9 p.p.) and Bahrain (+2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Saudi Arabia (-19.4 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 ($X) constitutes the largest market for imported non-woven glass fibre webs, felts, mattresses and boards in GCC, comprising 52% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 25% share of total imports. It was followed by Qatar, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +1.8%. In the other countries, the average annual rates were as follows: Saudi Arabia (-8.0% per year) and Qatar (+29.6% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, rising by 31% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 70%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+9.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform