GCC: Glass Fiber Market 2024

Glass Fiber Market Size in GCC

After three years of decline, the GCC glass fiber market increased by 23% to $X in 2021. In general, consumption, however, continues to indicate a slight curtailment. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Glass Fiber Production in GCC

In value terms, glass fiber production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt curtailment. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Glass Fiber Exports

Exports in GCC

In 2021, after two years of decline, there was growth in shipments abroad of voiles, webs, mats and other articles of glass fibers, when their volume increased by 1% to X tons. Overall, exports, however, saw a perceptible setback. The most prominent rate of growth was recorded in 2018 with an increase of 46% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, glass fiber exports expanded sharply to $X in 2021. In general, exports, however, showed a mild contraction. The pace of growth was the most pronounced in 2018 when exports increased by 44% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Kuwait (X tons) and Saudi Arabia (X tons) represented roughly 64% of total exports in 2021. The United Arab Emirates (X tons) ranks next in terms of the total exports with a 20% share, followed by Bahrain (14%). Oman (X tons) took a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Bahrain (with a CAGR of +8.8%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest glass fiber supplying countries in GCC were Bahrain ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), with a combined 76% share of total exports.

Bahrain, with a CAGR of +11.5%, recorded the highest rates of growth with regard to 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, rising by 12% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the export price increased by 33% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+2.5%), while the other leaders experienced mixed trends in the export price figures.

Glass Fiber Imports

Imports in GCC

In 2021, overseas purchases of voiles, webs, mats and other articles of glass fibers decreased by -20.4% to X tons, falling for the third year in a row after two years of growth. In general, imports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2017 with an increase of 24%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, glass fiber imports declined to $X in 2021. Over the period under review, imports showed a slight decrease. The pace of growth appeared the most rapid in 2013 when imports increased by 55% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) were the main importers of voiles, webs, mats and other articles of glass fibers in 2021, amounting to near 41% and 29% of total imports, respectively. Qatar (X tons) took the next position in the ranking, followed by Bahrain (X tons), Oman (X tons) and Kuwait (X tons). All these countries together took approx. 30% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the United Arab Emirates (with a CAGR of +4.2%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X) constituted the countries with the highest levels of imports in 2021, together comprising 83% of total imports.

In terms of the main importing countries, the United Arab Emirates, with a CAGR of +5.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, growing by 20% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 30% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Saudi Arabia ($X per ton) and the United Arab Emirates ($X per ton), while Kuwait ($X per ton) and Bahrain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform