MENA: Sails Market 2024

Sails Market Size in MENA

After two years of decline, the MENA's sails market increased by 0.4% to $X in 2022. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Sails Production in MENA

In value terms, sails production reached $X in 2022 estimated in export price. The total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.8% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 30% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Sails Exports

Exports in MENA

In 2022, exports of sails in MENA surged to X tons, jumping by 50% on 2021 figures. In general, exports recorded a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sails exports expanded slightly to $X in 2022. Overall, exports continue to indicate a resilient increase. The growth pace was the most rapid in 2020 when exports increased by 57% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Tunisia represented the major exporting country with an export of about X tons, which recorded 75% of total exports. Turkey (X tons) held a 17% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (5.6%).

From 2012 to 2022, average annual rates of growth with regard to sails exports from Tunisia stood at +11.1%. At the same time, Saudi Arabia (+24.6%) and Turkey (+11.3%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +24.6% from 2012-2022. While the share of Saudi Arabia (+3.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Tunisia (-1.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Tunisia ($X), Turkey ($X) and Saudi Arabia ($X) were the countries with the highest levels of exports in 2022, together comprising 95% of total exports.

Saudi Arabia, with a CAGR of +27.0%, recorded the highest growth rate of the value of exports, among 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, with a decrease of -31.4% against the previous year. Over the period under review, the export price recorded a mild slump. The pace of growth was the most pronounced in 2014 when the export price increased by 24% against the previous year. The level of export peaked at $X per ton in 2021, and then dropped markedly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Tunisia ($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 (+2.7%), while the other leaders experienced mixed trends in the export price figures.

Sails Imports

Imports in MENA

In 2022, approx. X tons of sails were imported in MENA; waning by -59.6% compared with the previous year. In general, imports continue to indicate a precipitous slump. The most prominent rate of growth was recorded in 2018 with an increase of 1,145%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, sails imports dropped notably to $X in 2022. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 134% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons) and Israel (X tons) represented roughly 57% of total imports in 2022. Qatar (X tons) took the next position in the ranking, followed by Bahrain (X tons), Yemen (X tons) and Morocco (X tons). All these countries together took approx. 27% share of total imports. Oman (X tons) held a little share 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 Yemen (with a CAGR of +60.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sails importing markets in MENA were Israel ($X), the United Arab Emirates ($X) and Yemen ($X), with a combined 77% share of total imports.

In terms of the main importing countries, Yemen, with a CAGR of +55.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, jumping by 75% against the previous year. Over the period under review, the import price saw a significant increase. The most prominent rate of growth was recorded in 2017 an increase of 848%. Over the period under review, import prices attained the peak figure in 2022 and is likely to see steady growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+12.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform