MENA: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in MENA

The MENA's glass fibres and wool market reduced to $X in 2022, shrinking by -7.4% against the previous year. The total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +8.7% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Glass Fibres And Glass Wool in MENA

In value terms, glass fibres and wool production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 57%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Glass Fibres And Glass Wool

Exports in MENA

In 2022, overseas shipments of glass fibres and glass wool decreased by -0.4% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2017 when exports increased by 83% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass fibres and wool exports reduced slightly to $X in 2022. In general, exports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2017 when exports increased by 44% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Egypt (X tons) was the major exporter of glass fibres and glass wool, creating 47% of total exports. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Saudi Arabia (X tons) and Kuwait (X tons). All these countries together held near 43% share of total exports. Turkey (X tons) and Bahrain (X tons) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +317.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibres and wool supplying countries in MENA were Egypt ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), together comprising 69% of total exports.

In terms of the main exporting countries, Egypt, with a CAGR of +267.4%, recorded the highest rates of growth with regard to 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 2022, the export price in MENA amounted to $X per ton, falling by -3.1% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by 46%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+6.4%), while the other leaders experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports in MENA

In 2022, purchases abroad of glass fibres and glass wool increased by 12% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, recorded a noticeable shrinkage. The growth pace was the most rapid in 2013 with an increase of 45% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, glass fibres and wool imports soared to $X in 2022. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 29%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the major importers of glass fibres and glass wool in MENA, together committing 47% of total imports. Turkey (X tons) took the next position in the ranking, followed by Kuwait (X tons), Bahrain (X tons) and Oman (X tons). All these countries together took near 29% share of total imports. The following importers - Egypt (X tons), Iraq (X tons), Morocco (X tons), Israel (X tons), Tunisia (X tons), Qatar (X tons) and Iran (X tons) - together made up 21% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Morocco (with a CAGR of +12.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Turkey ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 54% of total imports. Israel, Tunisia, Egypt, Kuwait, Bahrain, Oman, Morocco, Qatar, Iran and Iraq lagged somewhat behind, together accounting for a further 42%.

Tunisia, with a CAGR of +16.6%, recorded the highest rates of growth with regard to 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 2022, growing by 11% against the previous year. Import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass fibres and wool import price increased by +75.5% against 2017 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by 19% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+8.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform