Middle East: Market for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles 2024

Market Size for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in the Middle East

The Middle Eastern market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles skyrocketed to $X in 2021, increasing by 31% against the previous year. The total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in the Middle East

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X in 2021 estimated in export price. Overall, production saw a prominent increase. The pace of growth appeared the most rapid in 2014 when the production volume increased by 36% against the previous year. Over the period under review, production of reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Exports in the Middle East

For the fourth year in a row, the Middle East recorded growth in overseas shipments of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles, which increased by 9.1% to X tons in 2021. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 26%. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles surged to $X in 2021. Total exports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +110.2% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey represented the key exporting country with an export of around X tons, which resulted at 61% of total exports. Bahrain (X tons) held the second position in the ranking, distantly followed by Saudi Arabia (X tons). All these countries together took approx. 36% share of total exports. The United Arab Emirates (X tons) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to glass fibre filament, roving, and staple glass fibre article exports from Turkey stood at +5.1%. At the same time, Saudi Arabia (+11.7%) and the United Arab Emirates (+3.8%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +11.7% from 2012-2021. By contrast, Bahrain (-5.7%) illustrated a downward trend over the same period. Turkey (+19 p.p.) and Saudi Arabia (+4.2 p.p.) significantly strengthened its position in terms of the total exports, while Bahrain saw its share reduced by -23.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) emerged as the largest glass fibre filament, roving, and staple glass fibre article supplier in the Middle East, comprising 60% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 28% share of total exports. It was followed by Saudi Arabia, with a 6.7% share.

In Turkey, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased at an average annual rate of +3.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Bahrain (-1.5% per year) and Saudi Arabia (+12.5% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, rising by 25% against the previous year. Over the period under review, the export price saw a modest increase. Over the period under review, the export prices reached the peak figure at $X per ton in 2016; afterwards, it flattened through to 2021.

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 the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+4.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Imports in the Middle East

In 2021, approx. X tons of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles were imported in the Middle East; rising by 80% against the year before. In general, imports continue to indicate resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles skyrocketed to $X in 2021. Over the period under review, imports recorded a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey was the key importer of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles in the Middle East, with the volume of imports recording X tons, which was approx. 62% of total imports in 2021. Saudi Arabia (X tons) held the second position in the ranking, followed by the United Arab Emirates (X tons). All these countries together took approx. 26% share of total imports. Iran (X tons), Qatar (X tons) and Israel (X tons) took a little share of total imports.

Turkey was also the fastest-growing in terms of the glass fibre filaments, rovings, chopped strands, and staple glass fibre articles imports, with a CAGR of +23.5% from 2012 to 2021. At the same time, the United Arab Emirates (+5.9%), Israel (+5.0%) and Qatar (+3.7%) displayed positive paces of growth. Iran and Saudi Arabia experienced a relatively flat trend pattern. Turkey (+40 p.p.) significantly strengthened its position in terms of the total imports, while Qatar, the United Arab Emirates, Iran and Saudi Arabia saw its share reduced by -2.4%, -4.7%, -5.2% and -23.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported glass fibre filaments, rovings, chopped strands, and staple glass fibre articles in the Middle East, comprising 59% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 20% share of total imports. It was followed by the United Arab Emirates, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +23.1%. In the other countries, the average annual rates were as follows: Saudi Arabia (+3.3% per year) and the United Arab Emirates (+6.4% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, rising by 38% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Saudi Arabia ($X per ton) and Israel ($X per ton), while the United Arab Emirates ($X per ton) and Iran ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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