MENA: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in MENA

In 2022, the MENA's glass fibre and article market increased by X% to $X, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Production of Glass Fibres and Glass Fibre Articles in MENA

In value terms, glass fibre and article production declined sharply to $X in 2022 estimated in export price. Over the period under review, production, however, recorded resilient growth. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports in MENA

In 2022, approx. X tons of glass fibres and glass fibre articles were exported in MENA; reducing by X% against the previous year's figure. Over the period under review, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped markedly in the following year.

In value terms, glass fibre and article exports shrank to $X in 2022. In general, exports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

In 2022, Bahrain (X tons) and Turkey (X tons) represented the main exporters of glass fibres and glass fibre articles in MENA, together reaching approx. X% of total exports. The United Arab Emirates (X tons) held the next position in the ranking, followed by Egypt (X tons), Saudi Arabia (X tons) and Kuwait (X tons). All these countries together held approx. X% share of total exports. Morocco (X tons) followed a long way behind the leaders.

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

In value terms, Egypt ($X), Bahrain ($X) and Turkey ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports. The United Arab Emirates, Morocco, Saudi Arabia and Kuwait lagged somewhat behind, together comprising a further X%.

Morocco, with a CAGR of X%, saw the highest rates of growth with regard to 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, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

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

Imports of Glass Fibres and Glass Fibre Articles

Imports in MENA

In 2022, approx. X tons of glass fibres and glass fibre articles were imported in MENA; flattening at the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, glass fibre and article imports expanded modestly to $X in 2022. The total import value increased at an average annual rate of X% 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 2021 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

Turkey represented the largest importer of glass fibres and glass fibre articles in MENA, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. Saudi Arabia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (X%), Iran (X%) and Israel (X%). The following importers - Morocco (X tons) and Egypt (X tons) - together made up X% of total imports.

Turkey was also the fastest-growing in terms of the glass fibres and glass fibre articles imports, with a CAGR of X% from 2012 to 2022. At the same time, Morocco (X%), Israel (X%), the United Arab Emirates (X%), Iran (X%) and Egypt (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) and Morocco (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported glass fibres and glass fibre articles in MENA, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Saudi Arabia, with a X% share.

In Turkey, glass fibre and article imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform