Saudi Arabia: Illuminated Sign Market 2024

Illuminated Sign Market Size in Saudi Arabia

The Saudi illuminated sign market expanded markedly to $X in 2021, increasing by 14% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed moderate growth. Illuminated sign consumption peaked in 2021 and is expected to retain growth in the immediate term.

Illuminated Sign Exports

Exports from Saudi Arabia

In 2021, after three years of decline, there was significant growth in overseas shipments of illuminated signs and illuminated name-plates, when their volume increased by 60% to X tons. Over the period under review, exports, however, recorded a sharp contraction. The pace of growth appeared the most rapid in 2013 when exports increased by 661% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, illuminated sign exports declined markedly to $X in 2021. Overall, exports, however, faced a dramatic downturn. The pace of growth appeared the most rapid in 2013 with an increase of 990%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Algeria (X kg) was the main destination for illuminated sign exports from Saudi Arabia, accounting for a 83% share of total exports. Moreover, illuminated sign exports to Algeria exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), more than tenfold. Oman (X kg) ranked third in terms of total exports with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Algeria amounted to +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-26.8% per year) and Oman (-8.1% per year).

In value terms, Algeria ($X) remains the key foreign market for illuminated signs and illuminated name-plates exports from Saudi Arabia, comprising 83% of total exports. The second position in the ranking was taken by Oman ($X), with a 2.9% share of total exports. It was followed by the United Arab Emirates, with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Algeria amounted to -7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (-11.8% per year) and the United Arab Emirates (-34.2% per year).

Export Prices by Country

In 2021, the average illuminated sign export price amounted to $X per ton, which is down by -47.3% against the previous year. Overall, the export price recorded a pronounced setback. The pace of growth was the most pronounced in 2018 an increase of 102% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Algeria ($X per ton), while the average price for exports to Sudan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (-2.9%), while the prices for the other major destinations experienced a decline.

Illuminated Sign Imports

Imports into Saudi Arabia

In 2021, approx. X tons of illuminated signs and illuminated name-plates were imported into Saudi Arabia; rising by 23% against the year before. Overall, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 47%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, illuminated sign imports expanded significantly to $X in 2021. Over the period under review, imports continue to indicate noticeable growth. The pace of growth was the most pronounced in 2014 when imports increased by 62%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest illuminated sign supplier to Saudi Arabia, accounting for a 79% share of total imports. Moreover, illuminated sign imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), more than tenfold. The third position in this ranking was held by India (X tons), with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+39.2% per year) and India (-0.8% per year).

In value terms, China ($X) constituted the largest supplier of illuminated signs and illuminated name-plates to Saudi Arabia, comprising 52% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 16% share of total imports. It was followed by Hungary, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+47.0% per year) and Hungary (+58.0% per year).

Import Prices by Country

In 2021, the average illuminated sign import price amounted to $X per ton, waning by -10.5% against the previous year. Overall, the import price saw a noticeable curtailment. The most prominent rate of growth was recorded in 2020 when the average import price increased by 24%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Bahrain ($X per ton), while the price for Egypt ($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 (+20.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :