MENA: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in MENA

The MENA's glass fibre fabrics market dropped to $X in 2022, falling by -8.3% against the previous year. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +10.4% against 2020 indices. The level of consumption peaked at $X in 2021, and then shrank in the following year.

Glass Fibre Fabrics Production in MENA

In value terms, glass fibre fabrics production contracted significantly to $X in 2022 estimated in export price. Overall, production, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 82% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Glass Fibre Fabrics Exports

Exports in MENA

Glass fibre fabrics exports fell dramatically to X tons in 2022, with a decrease of -25.4% on the previous year's figure. In general, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 100% against the previous year. The volume of export peaked at X tons in 2021, and then shrank markedly in the following year.

In value terms, glass fibre fabrics exports declined notably to $X in 2022. Overall, exports, however, posted strong growth. The growth pace was the most rapid in 2021 when exports increased by 63% against the previous year. As a result, the exports attained the peak of $X, and then contracted rapidly in the following year.

Exports by Country

Turkey (X tons) and Egypt (X tons) dominates exports structure, together creating 73% of total exports. Morocco (X tons) took the next position in the ranking, followed by Tunisia (X tons) and Kuwait (X tons). All these countries together took near 18% share of total exports. Bahrain (X tons) and the United Arab Emirates (X tons) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +94.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibre fabrics supplying countries in MENA were Turkey ($X), Egypt ($X) and Tunisia ($X), together accounting for 86% of total exports.

Egypt, with a CAGR of +90.1%, 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 more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, increasing by 3.9% against the previous year. Overall, the export price, however, continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 15%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+0.4%), while the other leaders experienced a decline in the export price figures.

Glass Fibre Fabrics Imports

Imports in MENA

In 2022, after three years of growth, there was decline in overseas purchases of glass fibre fabrics, when their volume decreased by -3.9% to X tons. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 9.8%. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined slightly in the following year.

In value terms, glass fibre fabrics imports dropped to $X in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2021 with an increase of 22% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

Turkey was the largest importing country with an import of around X tons, which finished at 64% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, followed by Saudi Arabia (X tons). All these countries together took approx. 19% share of total imports. The following importers - Iran (X tons), Egypt (X tons), Israel (X tons) and Tunisia (X tons) - together made up 9.6% of total imports.

Imports into Turkey increased at an average annual rate of +3.7% from 2012 to 2022. At the same time, Tunisia (+11.5%), Israel (+5.2%), Egypt (+1.7%) and the United Arab Emirates (+1.3%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing importer imported in MENA, with a CAGR of +11.5% from 2012-2022. By contrast, Iran (-1.2%) and Saudi Arabia (-13.6%) illustrated a downward trend over the same period. While the share of Turkey (+19 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saudi Arabia (-25.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported glass fibre fabrics in MENA, comprising 55% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 13% share of total imports. It was followed by Saudi Arabia, with a 5.9% share.

In Turkey, glass fibre fabrics imports increased at an average annual rate of +3.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+2.8% per year) and Saudi Arabia (-10.8% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, reducing by -6.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2013 when the import price increased by 20%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Saudi Arabia ($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 (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform