Middle East: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in the Middle East

The Middle Eastern glass fibre fabrics market declined to $X in 2022, waning by -11.5% against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then declined in the following year.

Glass Fibre Fabrics Production in the Middle East

In value terms, glass fibre fabrics production declined markedly to $X in 2022 estimated in export price. Over the period under review, production, however, posted prominent growth. The most prominent rate of growth was recorded in 2021 when the production volume increased by 183% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Glass Fibre Fabrics Exports

Exports in the Middle East

In 2022, approx. X tons of glass fibre fabrics were exported in the Middle East; waning by -31.4% compared with 2021. Over the period under review, exports, however, recorded a strong expansion. The growth pace was the most rapid in 2021 when exports increased by 171% against the previous year. As a result, the exports attained the peak of X tons, and then contracted notably in the following year.

In value terms, glass fibre fabrics exports declined remarkably to $X in 2022. In general, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by 102%. As a result, the exports reached the peak of $X, and then contracted markedly in the following year.

Exports by Country

Turkey dominates exports structure, resulting at X tons, which was near 75% of total exports in 2022. Kuwait (X tons) held a 9.4% share (based on physical terms) of total exports, which put it in second place, followed by Bahrain (6.6%) and the United Arab Emirates (5.6%). Saudi Arabia (X tons) took a minor share of total exports.

Exports from Turkey increased at an average annual rate of +10.6% from 2012 to 2022. At the same time, Bahrain (+33.5%), Kuwait (+22.6%), the United Arab Emirates (+10.1%) and Saudi Arabia (+6.7%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +33.5% from 2012-2022. Kuwait (+5.7 p.p.) and Bahrain (+5.5 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and Turkey saw its share reduced by -1.5% and -7.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest glass fibre fabrics supplier in the Middle East, comprising 84% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 6.7% share of total exports. It was followed by the United Arab Emirates, with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled +4.5%. In the other countries, the average annual rates were as follows: Kuwait (+22.5% per year) and the United Arab Emirates (+9.4% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, growing by 9.1% against the previous year. Overall, the export price, however, showed a deep setback. The pace of growth appeared the most rapid in 2017 an increase of 13%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.1%), while the other leaders experienced a decline in the export price figures.

Glass Fibre Fabrics Imports

Imports in the Middle East

In 2022, after eight years of growth, there was decline in supplies from abroad of glass fibre fabrics, when their volume decreased by -4.3% to X tons. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 8.7% against the previous year. The volume of import peaked at X tons in 2021, and then dropped slightly in the following year.

In value terms, glass fibre fabrics imports fell to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 26% against the previous year. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, Turkey (X tons) represented the largest importer of glass fibre fabrics, creating 69% of total imports. The United Arab Emirates (X tons) held the second position in the ranking, followed by Saudi Arabia (X tons). All these countries together took approx. 20% share of total imports. The following importers - Iran (X tons) and Israel (X tons) - each reached a 5.3% share of total imports.

Imports into Turkey increased at an average annual rate of +3.7% from 2012 to 2022. At the same time, Israel (+5.2%) and the United Arab Emirates (+1.3%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +5.2% from 2012-2022. By contrast, Iran (-1.2%) and Saudi Arabia (-13.6%) illustrated a downward trend over the same period. While the share of Turkey (+22 p.p.) and the United Arab Emirates (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saudi Arabia (-25.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported glass fibre fabrics in the Middle East, comprising 63% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total imports. It was followed by Saudi Arabia, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to +3.0%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+2.8% per year) and Saudi Arabia (-10.8% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, dropping by -7% against the previous year. In general, the import price, however, recorded a modest expansion. The pace of growth appeared the most rapid in 2013 an increase of 23% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a 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 ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :