GCC: Prisms And Mirrors Market 2024

Prisms And Mirrors Market Size in GCC

In 2022, the GCC prisms and mirrors market increased by 17% to $X, rising for the third consecutive year after two years of decline. In general, consumption enjoyed a resilient expansion. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Prisms And Mirrors Production in GCC

In value terms, prisms and mirrors production rose markedly to $X in 2022 estimated in export price. In general, production saw a resilient expansion. The pace of growth was the most pronounced in 2018 with an increase of 2,965%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Prisms And Mirrors Exports

Exports in GCC

In 2022, approx. X kg of prisms and mirrors were exported in GCC; which is down by -21.1% against the year before. In general, exports faced a abrupt curtailment. The growth pace was the most rapid in 2016 with an increase of 185%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, prisms and mirrors exports fell to $X in 2022. Overall, exports showed a deep downturn. The pace of growth was the most pronounced in 2016 when exports increased by 178% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, the United Arab Emirates (X kg) represented the largest exporter of prisms and mirrors, mixing up 58% of total exports. It was distantly followed by Bahrain (X kg), committing a 35% share of total exports. Saudi Arabia (X kg) and Kuwait (X kg) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of -5.4%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the United Arab Emirates ($X) remains the largest prisms and mirrors supplier in GCC, comprising 77% of total exports. The second position in the ranking was held by Bahrain ($X), with a 16% share of total exports. It was followed by Saudi Arabia, with a 5.2% share.

In the United Arab Emirates, prisms and mirrors exports shrank by an average annual rate of -8.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bahrain (+22.5% per year) and Saudi Arabia (-15.4% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, rising by 8.5% against the previous year. Overall, the export price saw moderate growth. The pace of growth was the most pronounced in 2017 when the export price increased by 328%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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 ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+38.0%), while the other leaders experienced more modest paces of growth.

Prisms And Mirrors Imports

Imports in GCC

Prisms and mirrors imports rose markedly to X tons in 2022, picking up by 12% compared with the year before. In general, imports, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2017 with an increase of 1,418% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, prisms and mirrors imports surged to $X in 2022. Overall, imports, however, saw a pronounced decrease. The most prominent rate of growth was recorded in 2014 with an increase of 47%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) represented the major importer of prisms and mirrors, mixing up 83% of total imports. It was distantly followed by Qatar (X tons), achieving a 13% share of total imports. Bahrain (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the prisms and mirrors imports, with a CAGR of +1.4% from 2012 to 2022. Qatar (-2.3%) and Bahrain (-13.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates and Qatar increased by +47 and +5.1 percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported prisms and mirrors in GCC, comprising 93% of total imports. The second position in the ranking was taken by Qatar ($X), with a 2.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to +1.3%. In the other countries, the average annual rates were as follows: Qatar (-8.9% per year) and Bahrain (+1.9% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, growing by 9.6% against the previous year. In general, the import price continues to indicate measured growth. The pace of growth appeared the most rapid in 2018 an increase of 1,221%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+17.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform