Saudi Arabia: 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 Saudi Arabia

The Saudi market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles skyrocketed to $X in 2021, with an increase of 76% 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). In general, consumption showed a modest increase. Consumption of peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

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

Exports from Saudi Arabia

In 2021, overseas shipments of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased by 8.8% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports showed prominent growth. The growth pace was the most rapid in 2016 when exports increased by 196% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles skyrocketed to $X in 2021. In general, exports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2016 when exports increased by 103%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

India (X tons) was the main destination for exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from Saudi Arabia, with a 37% share of total exports. Moreover, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to India exceeded the volume sent to the second major destination, Spain (X tons), twofold. The third position in this ranking was held by Oman (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to India amounted to +41.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+27.3% per year) and Oman (+27.5% per year).

In value terms, Oman ($X) emerged as the key foreign market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles exports from Saudi Arabia, comprising 43% of total exports. The second position in the ranking was held by India ($X), with a 17% share of total exports. It was followed by Spain, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to Oman stood at +40.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+40.7% per year) and Spain (+19.9% per year).

Export Prices by Country

The average export price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles stood at $X per ton in 2021, rising by 46% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to the United Arab Emirates ($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 Oman (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Saudi Arabia

In 2021, approx. X tons of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles were imported into Saudi Arabia; with an increase of 23% on 2020 figures. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 80%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

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

Imports by Country

China (X tons), Bahrain (X tons) and Malaysia (X tons) were the main suppliers of imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Saudi Arabia, together comprising 91% of total imports. Taiwan (Chinese) and Japan lagged somewhat behind, together comprising a further 5.8%.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +17.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibre filament, roving, and staple glass fibre article suppliers to Saudi Arabia were Bahrain ($X), China ($X) and Japan ($X), together accounting for 91% of total imports.

Bahrain, with a CAGR of +37.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles stood at $X per ton in 2021, rising by 81% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Malaysia ($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 (+24.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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