MENA: Market for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles 2024

Market Size for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in MENA

The MENA's market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles skyrocketed to $X in 2021, rising by 18% against the previous year. The market value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Production of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in MENA

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X in 2021 estimated in export price. The total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% 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 -19.0% against 2017 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 61%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Exports in MENA

In 2021, the amount of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles exported in MENA soared to X tons, jumping by 38% on 2020 figures. In general, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 43% against the previous year. Over the period under review, the exports of reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles soared to $X in 2021. Over the period under review, exports showed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Egypt represented the main exporter of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles in MENA, with the volume of exports resulting at X tons, which was near 72% of total exports in 2021. It was distantly followed by Turkey (X tons) and Bahrain (X tons), together mixing up a 24% share of total exports. Saudi Arabia (X tons) took a relatively small share of total exports.

Egypt was also the fastest-growing in terms of the glass fibre filaments, rovings, chopped strands, and staple glass fibre articles exports, with a CAGR of +32.2% from 2012 to 2021. At the same time, Saudi Arabia (+11.7%) and Turkey (+5.1%) displayed positive paces of growth. By contrast, Bahrain (-5.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Egypt increased by +53 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Egypt ($X) remains the largest glass fibre filament, roving, and staple glass fibre article supplier in MENA, comprising 68% of total exports. The second position in the ranking was held by Turkey ($X), with a 15% share of total exports. It was followed by Bahrain, with a 7.1% share.

In Egypt, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased at an average annual rate of +31.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Turkey (+3.0% per year) and Bahrain (-1.5% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, increasing by 30% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. The level of export peaked at $X per ton in 2016; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Egypt ($X per ton) and Turkey ($X per ton), while Bahrain ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+4.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Imports in MENA

In 2021, approx. X tons of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles were imported in MENA; growing by 80% on the previous year's figure. Overall, imports showed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles soared to $X in 2021. In general, imports posted a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey was the largest importer of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles in MENA, with the volume of imports recording X tons, which was near 58% of total imports in 2021. Saudi Arabia (X tons) held a 14% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (9.8%) and Morocco (5.5%). Iran (X tons), Qatar (X tons) and Israel (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the glass fibre filaments, rovings, chopped strands, and staple glass fibre articles imports, with a CAGR of +23.5% from 2012 to 2021. At the same time, Morocco (+17.3%), the United Arab Emirates (+5.9%), Israel (+5.0%) and Qatar (+3.7%) displayed positive paces of growth. Iran and Saudi Arabia experienced a relatively flat trend pattern. From 2012 to 2021, the share of Turkey and Morocco increased by +37 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported glass fibre filaments, rovings, chopped strands, and staple glass fibre articles in MENA, comprising 53% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with an 18% share of total imports. It was followed by the United Arab Emirates, with an 8.6% share.

In Turkey, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles expanded at an average annual rate of +23.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (+3.3% per year) and the United Arab Emirates (+6.4% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, jumping by 34% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform