Saudi Arabia: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Saudi Arabia

In 2022, after four years of growth, there was decline in the Saudi glass fibres and wool market, when its value decreased by -2.8% to $X. In general, consumption, however, recorded prominent growth. Over the period under review, the market reached the maximum level at $X in 2021, and then fell in the following year.

Production of Glass Fibres And Glass Wool in Saudi Arabia

In value terms, glass fibres and wool production shrank slightly to $X in 2022 estimated in export price. In general, production, however, enjoyed buoyant growth. The growth pace was the most rapid in 2014 with an increase of 129%. Glass fibres and wool production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Glass Fibres And Glass Wool

Exports from Saudi Arabia

In 2022, after three years of decline, there was growth in overseas shipments of glass fibres and glass wool, when their volume increased by 1.9% to X tons. In general, exports, however, continue to indicate a pronounced downturn. The pace of growth was the most pronounced in 2017 when exports increased by 117%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass fibres and wool exports dropped to $X in 2022. Overall, exports, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2017 with an increase of 75%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Kuwait (X tons) and Bahrain (X tons) were the main destinations of glass fibres and wool exports from Saudi Arabia, with a combined 72% share of total exports. Egypt, Oman, Australia, Pakistan and Iraq lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +63.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glass fibres and wool exported from Saudi Arabia were the United Arab Emirates ($X), Kuwait ($X) and Egypt ($X), with a combined 68% share of total exports. Bahrain, Oman, Australia, Pakistan and Iraq lagged somewhat behind, together accounting for a further 26%.

Australia, with a CAGR of +34.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average glass fibres and wool export price stood at $X per ton in 2022, declining by -12.1% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 28% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Saudi Arabia

In 2022, approx. X tons of glass fibres and glass wool were imported into Saudi Arabia; increasing by 15% compared with 2021. In general, imports, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 63% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, glass fibres and wool imports reached $X in 2022. Over the period under review, imports, however, showed a perceptible contraction. The growth pace was the most rapid in 2013 when imports increased by 57% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Kuwait (X tons), the United Arab Emirates (X tons) and China (X tons) were the main suppliers of glass fibres and wool imports to Saudi Arabia, together comprising 85% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +12.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Kuwait ($X) and China ($X) constituted the largest glass fibres and wool suppliers to Saudi Arabia, with a combined 79% share of total imports.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +11.2%, recorded 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 average glass fibres and wool import price stood at $X per ton in 2022, with a decrease of -12.4% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 27% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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