Middle East: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in the Middle East

The Middle Eastern glass fibre and article market reduced to $X in 2022, declining by X% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Glass Fibres and Glass Fibre Articles in the Middle East

In value terms, glass fibre and article production contracted markedly to $X in 2022 estimated in export price. Overall, production, however, showed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 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 the Middle East

In 2022, shipments abroad of glass fibres and glass fibre articles increased by X% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, glass fibre and article exports reached $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Bahrain (X tons) and Turkey (X tons) represented roughly X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), Saudi Arabia (X tons) and Kuwait (X tons), together creating a X% share of total exports. Iran (X tons) held a little share of total exports.

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

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

In terms of the main exporting countries, Iran, with a CAGR of X%, saw 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

The export price in the Middle East stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2015; however, from 2016 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 the United Arab Emirates ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Imports of Glass Fibres and Glass Fibre Articles

Imports in the Middle East

In 2022, the amount of glass fibres and glass fibre articles imported in the Middle East expanded to X tons, picking up by X% compared with the previous year. 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 throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, glass fibre and article imports stood at $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Turkey was the key importer of glass fibres and glass fibre articles in the Middle East, with the volume of imports finishing at X tons, which was near X% of total imports in 2022. Saudi Arabia (X tons) ranks second in terms of the total imports with a X% share, followed by the United Arab Emirates (X%), Iran (X%) and Israel (X%). Oman (X tons) and Qatar (X tons) followed a long way behind the leaders.

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, Israel (X%), the United Arab Emirates (X%), Iran (X%) and Oman (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) and Qatar (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) and Israel (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Qatar (X p.p.) and 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 ($X) constitutes the largest market for imported glass fibres and glass fibre articles in the Middle East, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($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. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :