Middle East: Market for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings 2024

Market Size for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in the Middle East

In 2022, the Middle Eastern market for glaziers putty, grafting putty, other mastics and painters' fillings was finally on the rise to reach $X after three years of decline. Overall, consumption, however, saw a mild setback. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in the Middle East

In value terms, production of glaziers putty, grafting putty, other mastics and painters' fillings reduced dramatically to $X in 2022 estimated in export price. In general, production recorded a resilient increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 126%. Over the period under review, production of attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Exports in the Middle East

After four years of growth, shipments abroad of glaziers putty, grafting putty, other mastics and painters' fillings decreased by -6% to X tons in 2022. Total exports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.5% 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 +21.0% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 18% against the previous year. As a result, the exports reached the peak of X tons, and then contracted in the following year.

In value terms, exports of glaziers putty, grafting putty, other mastics and painters' fillings reached $X in 2022. Overall, exports, however, showed a resilient expansion. The growth pace was the most rapid in 2021 with an increase of 35% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Turkey represented the main exporting country with an export of around X tons, which recorded 70% of total exports. The United Arab Emirates (X tons) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (7.5%). Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to glaziers, grafting putty and painters' filling exports from Turkey stood at +3.5%. At the same time, the United Arab Emirates (+9.5%), Saudi Arabia (+2.9%) and Bahrain (+1.5%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +9.5% from 2012-2022. While the share of the United Arab Emirates (+7.3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest glaziers, grafting putty and painters' filling supplier in the Middle East, comprising 80% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total exports. It was followed by Bahrain, with a 2.1% share.

In Turkey, exports of glaziers putty, grafting putty, other mastics and painters' fillings expanded at an average annual rate of +11.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+12.7% per year) and Bahrain (+8.4% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, with an increase of 22% against the previous year. Export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for glaziers putty, grafting putty, other mastics and painters' fillings increased by +39.2% against 2020 indices. The growth pace was the most rapid in 2013 an increase of 34% against the previous year. The level of export peaked in 2022 and is expected to retain 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 Turkey ($X per ton), while Saudi Arabia ($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 (+7.2%), while the other leaders experienced more modest paces of growth.

Imports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Imports in the Middle East

In 2022, supplies from abroad of glaziers putty, grafting putty, other mastics and painters' fillings increased by 2.5% to X tons, rising for the fourth consecutive year after two years of decline. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.2% 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 +29.8% against 2018 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 17% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, imports of glaziers putty, grafting putty, other mastics and painters' fillings rose sharply to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 +81.0% against 2012 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 15% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Turkey (X tons), the United Arab Emirates (X tons) and Saudi Arabia (X tons) was the largest importer of glaziers putty, grafting putty, other mastics and painters' fillings in the Middle East, generating 53% of total import. It was distantly followed by Kuwait (X tons), Yemen (X tons), Iraq (X tons), Israel (X tons) and Bahrain (X tons), together constituting a 36% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +19.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glaziers, grafting putty and painters' filling importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), with a combined 67% share of total imports. Israel, Iraq, Kuwait, Yemen and Bahrain lagged somewhat behind, together comprising a further 23%.

Israel, with a CAGR of +13.2%, saw 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

In 2022, the import price in the Middle East amounted to $X per ton, rising by 4.7% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 12% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 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 ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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