MENA: Market for Spindles And Spindle Flyers, Spinning Ring And Ring Travellers 2024

Market Size for Spindles And Spindle Flyers, Spinning Ring And Ring Travellers in MENA

The MENA's spindles and spindle flyer market expanded remarkably to $X in 2022, with an increase of 12% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers in MENA

In value terms, spindles and spindle flyer production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 55%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Exports of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers

Exports in MENA

In 2022, shipments abroad of spindles and spindle flyers, spinning ring and ring travellers decreased by -2.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 124% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, spindles and spindle flyer exports shrank sharply to $X in 2022. Overall, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of 185%. Over the period under review, the exports reached the maximum at $X in 2021, and then fell dramatically in the following year.

Exports by Country

In 2022, Kuwait (X tons), the United Arab Emirates (X tons) and Turkey (X tons) represented the key exporter of spindles and spindle flyers, spinning ring and ring travellers in MENA, achieving 96% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Turkey (with a CAGR of +18.7%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the largest spindles and spindle flyer supplier in MENA, comprising 58% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +20.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Kuwait (+10.7% per year) and the United Arab Emirates (+8.4% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, with a decrease of -15.7% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 119%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Kuwait ($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 (+1.2%), while the other leaders experienced a decline in the export price figures.

Imports of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers

Imports in MENA

Spindles and spindle flyer imports stood at X tons in 2022, growing by 7.2% on 2021. Total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +6.6% against 2019 indices. The growth pace was the most rapid in 2013 when imports increased by 55% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, spindles and spindle flyer imports totaled $X in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 48%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Turkey represented the major importing country with an import of about X tons, which accounted for 52% of total imports. It was distantly followed by the United Arab Emirates (X tons), Iran (X tons) and Egypt (X tons), together committing a 41% share of total imports. Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to spindles and spindle flyer imports into Turkey stood at +5.1%. At the same time, the United Arab Emirates (+32.9%), Bahrain (+13.4%), Egypt (+12.4%) and Iran (+7.5%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +32.9% from 2012-2022. The United Arab Emirates (+20 p.p.), Egypt (+3.1 p.p.) and Iran (+3 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported spindles and spindle flyers, spinning ring and ring travellers in MENA, comprising 66% of total imports. The second position in the ranking was taken by Iran ($X), with an 11% share of total imports. It was followed by the United Arab Emirates, with a 7.8% share.

In Turkey, spindles and spindle flyer imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Iran (+0.5% per year) and the United Arab Emirates (+28.4% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, approximately mirroring the previous year. In general, the import price, however, continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2020 when the import price increased by 41%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($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 (-3.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform