MENA: Glass Fibre Filament Market 2024

Glass Fibre Filament Market Size in MENA

The MENA's glass fibre filament market was finally on the rise to reach $X in 2021, after four years of decline. The market value increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Glass Fibre Filament Production in MENA

In value terms, glass fibre filament production expanded markedly to $X in 2021 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -28.6% against 2016 indices. The pace of growth was the most pronounced in 2016 with an increase of 53%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Glass Fibre Filament Exports

Exports in MENA

In 2021, approx. X tons of glass fibre filaments were exported in MENA; rising by 25% on the previous year. Over the period under review, exports continue to indicate resilient growth. The pace of growth was the most pronounced in 2015 when exports increased by 77% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, glass fibre filament exports soared to $X in 2021. In general, exports posted a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of 84% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

Exports by Country

Egypt dominates exports structure, reaching X tons, which was near 89% of total exports in 2021. It was distantly followed by Turkey (X tons), creating a 6.1% share of total exports. Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to glass fibre filament exports from Egypt stood at +23.2%. At the same time, Saudi Arabia (+25.3%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +25.3% from 2012-2021. By contrast, Turkey (-2.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Egypt increased by +37 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Egypt ($X) remains the largest glass fibre filament supplier in MENA, comprising 87% of total exports. The second position in the ranking was held by Turkey ($X), with a 6.9% share of total exports.

In Egypt, glass fibre filament exports increased at an average annual rate of +27.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Turkey (-3.8% per year) and Saudi Arabia (+20.8% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, growing by 30% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. Over the period under review, the export prices hit record highs at $X per ton in 2016; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Egypt ($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 (+3.8%), while the other leaders experienced a decline in the export price figures.

Glass Fibre Filament Imports

Imports in MENA

For the third year in a row, MENA recorded growth in purchases abroad of glass fibre filaments, which increased by 35% to X tons in 2021. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +8.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +32.9% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre filament imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey was the major importing country with an import of around X tons, which amounted to 41% of total imports. Saudi Arabia (X tons) took the second position in the ranking, followed by the United Arab Emirates (X tons), Morocco (X tons) and Qatar (X tons). All these countries together took near 52% share of total imports. The following importers - Iran (X tons) and Oman (X tons) - each resulted at a 4.2% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +17.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Saudi Arabia ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2021, with a combined 79% share of total imports.

Turkey, with a CAGR of +17.9%, recorded the highest growth rate of the value of imports, in terms of 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 MENA stood at $X per ton in 2021, with an increase of 46% against the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform