GCC: Sails Market 2025

Sails Market Size in GCC

In 2022, the GCC sails market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, recorded a abrupt descent. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Sails Production in GCC

In value terms, sails production surged to $X in 2022 estimated in export price. Over the period under review, production enjoyed significant growth. The growth pace was the most rapid in 2020 with an increase of 331% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Sails Exports

Exports in GCC

After three years of growth, overseas shipments of sails decreased by -13.1% to X tons in 2022. Overall, exports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2015 with an increase of 136%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, sails exports shrank significantly to $X in 2022. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 165%. Over the period under review, the exports reached the maximum at $X in 2021, and then fell dramatically in the following year.

Exports by Country

In 2022, Saudi Arabia (X tons) represented the major exporter of sails, comprising 75% of total exports. It was distantly followed by Oman (X tons) and the United Arab Emirates (X tons), together committing a 22% share of total exports. Kuwait (X tons) followed a long way behind the leaders.

Saudi Arabia was also the fastest-growing in terms of the sails exports, with a CAGR of +24.6% from 2012 to 2022. At the same time, Kuwait (+19.7%), Oman (+15.3%) and the United Arab Emirates (+4.3%) displayed positive paces of growth. From 2012 to 2022, the share of Saudi Arabia increased by +28 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest sails supplier in GCC, comprising 82% of total exports. The second position in the ranking was held by Oman ($X), with a 9.3% share of total exports. It was followed by the United Arab Emirates, with a 7.2% share.

In Saudi Arabia, sails exports expanded at an average annual rate of +27.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+17.3% per year) and the United Arab Emirates (+4.9% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, waning by -2.2% against the previous year. In general, the export price, however, continues to indicate a pronounced expansion. The most prominent rate of growth was recorded in 2020 an increase of 113%. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then declined in the following year.

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 Saudi Arabia ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.9%), while the other leaders experienced more modest paces of growth.

Sails Imports

Imports in GCC

In 2022, imports of sails in GCC reduced remarkably to X tons, waning by -52.7% compared with 2021. In general, imports recorded a sharp contraction. The growth pace was the most rapid in 2018 when imports increased by 1,415% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, sails imports dropped remarkably to $X in 2022. Over the period under review, imports saw a drastic downturn. The growth pace was the most rapid in 2018 with an increase of 204%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the key importing country with an import of about X tons, which reached 56% of total imports. It was distantly followed by Qatar (X tons), Bahrain (X tons), Oman (X tons) and Kuwait (X tons), together committing a 44% share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +7.8% from 2012 to 2022. At the same time, Kuwait (+27.6%) and Oman (+10.6%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +27.6% from 2012-2022. By contrast, Bahrain (-4.1%) and Qatar (-10.1%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+56 p.p.), Qatar (+16 p.p.), Bahrain (+12 p.p.), Oman (+7.3 p.p.) and Kuwait (+6.2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported sails in GCC, comprising 77% of total imports. The second position in the ranking was held by Oman ($X), with a 12% share of total imports. It was followed by Kuwait, with an 8.5% share.

In the United Arab Emirates, sails imports expanded at an average annual rate of +2.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Oman (+3.7% per year) and Kuwait (+22.0% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, rising by 48% against the previous year. Over the period under review, the import price continues to indicate a significant increase. The most prominent rate of growth was recorded in 2017 an increase of 738%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+12.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform