MENA: Artificial Staple Fibre Market 2024

Artificial Staple Fibre Market Size in MENA

The MENA's artificial staple fibre market shrank notably to $X in 2021, waning by -20.1% against the previous year. Over the period under review, consumption recorded a pronounced shrinkage. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Artificial Staple Fibre Production in MENA

In value terms, artificial staple fibre production declined remarkably to $X in 2021 estimated in export price. Over the period under review, production recorded a noticeable reduction. The growth pace was the most rapid in 2020 when the production volume increased by 56% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Artificial Staple Fibre Exports

Exports in MENA

In 2021, shipments abroad of artificial staple fibres increased by 29% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports showed a moderate increase. The most prominent rate of growth was recorded in 2014 when exports increased by 89% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, artificial staple fibre exports soared to $X in 2021. In general, exports enjoyed a prominent increase. The growth pace was the most rapid in 2014 when exports increased by 76% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Turkey represented the largest exporter of artificial staple fibres in MENA, with the volume of exports resulting at X tons, which was approx. 66% of total exports in 2021. The United Arab Emirates (X tons) took a 20% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (8.7%) and Iran (5.2%).

Exports from Turkey increased at an average annual rate of +1.1% from 2012 to 2021. At the same time, Saudi Arabia (+39.0%), Iran (+15.7%) and the United Arab Emirates (+5.0%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +39.0% from 2012-2021. While the share of Saudi Arabia (+8.1 p.p.), Iran (+3.4 p.p.) and the United Arab Emirates (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Turkey (-12 p.p.) displayed negative dynamics.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of exports in 2021, with a combined 95% share of total exports.

In terms of the main exporting countries, Saudi Arabia, with a CAGR of +29.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, increasing by 22% against the previous year. Export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, artificial staple fibre export price increased by +61.4% against 2018 indices. The pace of growth was the most pronounced in 2013 an increase of 28% against the previous year. The level of export peaked at $X per ton in 2016; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.8%), while the other leaders experienced mixed trends in the export price figures.

Artificial Staple Fibre Imports

Imports in MENA

In 2021, supplies from abroad of artificial staple fibres increased by 4% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, continue to indicate a deep slump. The pace of growth was the most pronounced in 2013 when imports increased by 173%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, artificial staple fibre imports contracted rapidly to $X in 2021. In general, imports, however, continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2013 with an increase of 111% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Turkey was the largest importer of artificial staple fibres in MENA, with the volume of imports reaching X tons, which was approx. 38% of total imports in 2021. Iraq (X tons) held the second position in the ranking, distantly followed by Iran (X tons), Egypt (X tons), Yemen (X tons) and Morocco (X tons). All these countries together took approx. 58% share of total imports. Lebanon (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Lebanon (with a CAGR of +78.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported artificial staple fibres in MENA, comprising 40% of total imports. The second position in the ranking was taken by Egypt ($X), with a 19% share of total imports. It was followed by Iran, with a 13% share.

In Turkey, artificial staple fibre imports increased at an average annual rate of +2.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Egypt (-19.9% per year) and Iran (-3.6% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, with a decrease of -18.4% against the previous year. Overall, the import price, however, continues to indicate a tangible increase. The growth pace was the most rapid in 2018 when the import price increased by 58%. Over the period under review, import prices reached the maximum at $X per ton in 2020, and then shrank markedly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Egypt ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform