GCC: Market for Spindles And Spindle Flyers, Spinning Ring And Ring Travellers 2024

Market Size for Spindles And Spindle Flyers, Spinning Ring And Ring Travellers in GCC

The GCC spindles and spindle flyer market declined slightly to $X in 2022, with a decrease of -3.2% against the previous year. Over the period under review, consumption, however, posted a strong increase. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers in GCC

In value terms, spindles and spindle flyer production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 43%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers

Exports in GCC

In 2022, overseas shipments of spindles and spindle flyers, spinning ring and ring travellers decreased by -0.9% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 123%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, spindles and spindle flyer exports fell significantly to $X in 2022. In general, exports, however, posted resilient growth. The pace of growth was the most pronounced in 2021 when exports increased by 138%. As a result, the exports attained the peak of $X, and then declined rapidly in the following year.

Exports by Country

The shipments of the two major exporters of spindles and spindle flyers, spinning ring and ring travellers, namely Kuwait and the United Arab Emirates, represented more than two-thirds of total export.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +16.3%).

In value terms, Kuwait ($X) and the United Arab Emirates ($X) were the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, Kuwait, with a CAGR of +10.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, reducing by -29.5% against the previous year. Over the period under review, the export price showed a pronounced shrinkage. The pace of growth was the most pronounced in 2015 when the export price increased by 147% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably 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 Kuwait stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.6%).

Imports of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers

Imports in GCC

In 2022, approx. X tons of spindles and spindle flyers, spinning ring and ring travellers were imported in GCC; declining by -3.9% against the year before. In general, imports, however, saw a temperate expansion. The most prominent rate of growth was recorded in 2019 with an increase of 355% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, spindles and spindle flyer imports contracted to $X in 2022. Overall, imports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 351%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates prevails in imports structure, reaching X tons, which was near 89% of total imports in 2022. It was distantly followed by Bahrain (X tons), mixing up a 7.9% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the spindles and spindle flyers, spinning ring and ring travellers imports, with a CAGR of +32.9% from 2012 to 2022. At the same time, Bahrain (+13.4%) displayed positive paces of growth. From 2012 to 2022, the share of the United Arab Emirates and Bahrain increased by +82 and +4.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported spindles and spindle flyers, spinning ring and ring travellers in GCC, comprising 83% of total imports. The second position in the ranking was taken by Bahrain ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to +28.4%.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, waning by -5.7% against the previous year. Overall, the import price, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2020 an increase of 214%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-3.4%).

Source: IndexBox Platform