GCC: Worked Flat Glass Market 2024

Worked Flat Glass Market Size in GCC

In 2021, the GCC worked flat glass market increased by 11% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption posted a resilient increase. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Worked Flat Glass Production in GCC

In value terms, worked flat glass production fell modestly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 189%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Worked Flat Glass Exports

Exports in GCC

Worked flat glass exports rose rapidly to X tons in 2021, increasing by 6.7% against the year before. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 352% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, worked flat glass exports expanded slightly to $X in 2021. In general, exports recorded a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 159% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

Exports by Country

In 2021, the United Arab Emirates (X tons) was the largest exporter of worked flat glass, creating 66% of total exports. It was distantly followed by Saudi Arabia (X tons), creating a 34% 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 the United Arab Emirates (with a CAGR of +38.1%).

In value terms, the United Arab Emirates ($X) remains the largest worked flat glass supplier in GCC, comprising 75% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 24% share of total exports.

In the United Arab Emirates, worked flat glass exports increased at an average annual rate of +20.2% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, shrinking by -4.1% against the previous year. Over the period under review, the export price continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2016 an increase of 66% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-7.5%).

Worked Flat Glass Imports

Imports in GCC

In 2021, overseas purchases of worked flat glass increased by 95% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports continue to indicate a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, worked flat glass imports surged to $X in 2021. In general, imports saw resilient growth. The pace of growth was the most pronounced in 2020 with an increase of 76%. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Saudi Arabia (X tons) was the largest importer of worked flat glass, constituting 68% of total imports. It was distantly followed by the United Arab Emirates (X tons), mixing up a 25% share of total imports. The following importers - Bahrain (X tons), Qatar (X tons) and Kuwait (X tons) - together made up 6.9% of total imports.

Saudi Arabia was also the fastest-growing in terms of the worked flat glass imports, with a CAGR of +48.5% from 2012 to 2021. At the same time, Bahrain (+28.2%), the United Arab Emirates (+15.1%) and Qatar (+9.6%) displayed positive paces of growth. By contrast, Kuwait (-4.1%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+53 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Qatar (-4.9 p.p.), Kuwait (-17.8 p.p.) and the United Arab Emirates (-29.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest worked flat glass importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Qatar ($X), with a combined 96% share of total imports.

Saudi Arabia, with a CAGR of +41.8%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, dropping by -15.6% against the previous year. Over the period under review, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 an increase of 126% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Qatar ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-4.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform