MENA: Glass Fiber Market 2024

Glass Fiber Market Size in MENA

The MENA's glass fiber market rose markedly to $X in 2021, with an increase of 11% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Glass Fiber Production in MENA

In value terms, glass fiber production rose markedly to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 28%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Glass Fiber Exports

Exports in MENA

In 2021, shipments abroad of voiles, webs, mats and other articles of glass fibers was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports showed temperate growth. The most prominent rate of growth was recorded in 2017 with an increase of 112% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, glass fiber exports skyrocketed to $X in 2021. Overall, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 32% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Turkey (X tons), distantly followed by Egypt (X tons), Kuwait (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons) and Bahrain (X tons) were the key exporters of voiles, webs, mats and other articles of glass fibers, together constituting 93% of total exports. Tunisia (X tons) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +49.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X) remains the largest glass fiber supplier in MENA, comprising 46% of total exports. The second position in the ranking was held by Turkey ($X), with a 14% share of total exports. It was followed by Bahrain, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value in Egypt totaled +65.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+6.0% per year) and Bahrain (+11.5% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, surging by 7.8% against the previous year. Export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, glass fiber export price increased by +143.0% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 54% against the previous year. Over the period under review, the export prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Turkey ($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 (+10.9%), while the other leaders experienced more modest paces of growth.

Glass Fiber Imports

Imports in MENA

In 2021, purchases abroad of voiles, webs, mats and other articles of glass fibers decreased by -5.7% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 23% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, glass fiber imports expanded notably to $X in 2021. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 38% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The purchases of the four major importers of voiles, webs, mats and other articles of glass fibers, namely Turkey, the United Arab Emirates, Saudi Arabia and Israel, represented more than half of total import. It was distantly followed by Morocco (X tons) and Qatar (X tons), together committing an 11% share of total imports. The following importers - Bahrain (X tons), Iraq (X tons), Egypt (X tons), Algeria (X tons), Oman (X tons), Tunisia (X tons) and Kuwait (X tons) - together made up 21% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Turkey (with a CAGR of +15.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fiber importing markets in MENA were Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), with a combined 57% share of total imports. These countries were followed by Israel, Morocco, Qatar, Egypt, Tunisia, Algeria, Bahrain, Oman, Iraq and Kuwait, which together accounted for a further 38%.

Morocco, with a CAGR of +12.9%, 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 2021, rising by 15% against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2013 when the import price increased by 18% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a lower figure.

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 Tunisia ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tunisia (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform