Middle East: Glass Fiber Market 2024

Glass Fiber Market Size in the Middle East

In 2021, after four years of decline, there was significant growth in the Middle Eastern glass fiber market, when its value increased by 10% to $X. Over the period under review, consumption, however, recorded a mild descent. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Glass Fiber Production in the Middle East

In value terms, glass fiber production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a noticeable curtailment. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Glass Fiber Exports

Exports in the Middle East

In 2021, after two years of decline, there was significant growth in shipments abroad of voiles, webs, mats and other articles of glass fibers, when their volume increased by 12% to X tons. Total exports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.4% 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 decreased by -30.8% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 38%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, glass fiber exports skyrocketed to $X in 2021. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 39%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey represented the largest exporting country with an export of around X tons, which amounted to 45% of total exports. It was distantly followed by Kuwait (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons) and Bahrain (X tons), together creating a 51% share of total exports. Iran (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to glass fiber exports from Turkey stood at +7.4%. At the same time, Iran (+13.4%), Bahrain (+8.8%) and the United Arab Emirates (+4.2%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +13.4% from 2012-2021. By contrast, Saudi Arabia (-3.7%) and Kuwait (-5.5%) illustrated a downward trend over the same period. Turkey (+18 p.p.), Bahrain (+3.3 p.p.), the United Arab Emirates (+2.3 p.p.) and Iran (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and Kuwait saw its share reduced by -9.8% and -14.8% from 2012 to 2021, respectively.

In value terms, the largest glass fiber supplying countries in the Middle East were Turkey ($X), Bahrain ($X) and the United Arab Emirates ($X), together comprising 65% of total exports. Saudi Arabia, Kuwait and Iran lagged somewhat behind, together accounting for a further 34%.

In terms of the main exporting countries, Iran, with a CAGR of +14.6%, saw the highest growth rate of 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

In 2021, the export price in the Middle East amounted to $X per ton, rising by 7.4% against the previous year. Overall, the export price, however, saw a mild decline. The pace of growth appeared the most rapid in 2013 when the export price increased by 27% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

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 Bahrain ($X per ton), while Iran ($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 (+2.5%), while the other leaders experienced more modest paces of growth.

Glass Fiber Imports

Imports in the Middle East

In 2021, supplies from abroad of voiles, webs, mats and other articles of glass fibers decreased by -7.1% to X tons, falling for the third consecutive year after two years of growth. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 24%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, glass fiber imports rose remarkably to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 42% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The countries with the highest levels of glass fiber imports in 2021 were Turkey (X tons), the United Arab Emirates (X tons), Saudi Arabia (X tons) and Israel (X tons), together amounting to 77% of total import. It was distantly followed by Qatar (X tons), generating a 5.6% share of total imports. The following importers - Bahrain (X tons) and Iraq (X tons) - each reached a 7.8% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading 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 the Middle East were Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), with a combined 69% share of total imports.

In terms of the main importing countries, Turkey, with a CAGR of +12.8%, saw the highest rates of growth with regard to the value of imports, 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 the Middle East stood at $X per ton in 2021, picking up by 14% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2013 when the import price increased by 20% 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 somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Turkey ($X per ton) and Saudi Arabia ($X per ton), while Iraq ($X per ton) and Bahrain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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