GCC: Safety Glass Market 2024

Safety Glass Market Size in GCC

The GCC safety glass market expanded significantly to $X in 2022, increasing by 8.8% against the previous year. Overall, consumption recorded a strong increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Safety Glass Production in GCC

In value terms, safety glass production rose sharply to $X in 2022 estimated in export price. In general, production recorded buoyant growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 53% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Safety Glass Exports

Exports in GCC

In 2022, shipments abroad of safety glass decreased by -23.8% to X square meters, falling for the second year in a row after two years of growth. Over the period under review, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2013 when exports increased by 23%. As a result, the exports attained the peak of X square meters. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, safety glass exports dropped significantly to $X in 2022. In general, exports recorded a drastic downturn. The pace of growth appeared the most rapid in 2016 with an increase of 76%. 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, Saudi Arabia (X square meters) represented the largest exporter of safety glass, constituting 58% of total exports. The United Arab Emirates (X square meters) held the second position in the ranking, distantly followed by Kuwait (X square meters) and Oman (X square meters). All these countries together took approx. 40% share of total exports. Bahrain (X square meters) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +25.1%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest safety glass supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), together accounting for 91% of total exports. Kuwait and Bahrain lagged somewhat behind, together comprising a further 9.1%.

In terms of the main exporting countries, Kuwait, with a CAGR of +18.3%, saw the highest growth rate of the value of exports, 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 square meter in 2022, dropping by -35.9% against the previous year. Overall, the export price saw a noticeable reduction. The pace of growth appeared the most rapid in 2016 when the export price increased by 68% against the previous year. As a result, the export price attained the peak level of $X per square meter. From 2017 to 2022, the export prices remained at a 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 Oman ($X per square meter), while Saudi Arabia ($X per square meter) 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 (+2.1%), while the other leaders experienced a decline in the export price figures.

Safety Glass Imports

Imports in GCC

In 2022, supplies from abroad of safety glass increased by 5.7% to X square meters, rising for the second year in a row after two years of decline. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +30.7% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 52% against the previous year. As a result, imports reached the peak of X square meters. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, safety glass imports fell to $X in 2022. The total import value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 34%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X square meters) and Saudi Arabia (X square meters) prevails in imports structure, together committing 79% of total imports. Qatar (X square meters) held the next position in the ranking, followed by Kuwait (X square meters). All these countries together took approx. 18% share of total imports. Oman (X square meters) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Qatar (with a CAGR of +14.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 90% share of total imports.

Among the main importing countries, Saudi Arabia, with a CAGR of +6.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per square meter, reducing by -11.2% against the previous year. In general, the import price continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2015 when the import price increased by 23% against the previous year. Over the period under review, import prices attained the maximum at $X per square meter in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per square meter), while Kuwait ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform