Saudi Arabia: Glass Fiber Market 2024

Glass Fiber Market Size in Saudi Arabia

The Saudi glass fiber market surged to $X in 2021, jumping by 31% against the previous year. Overall, consumption, however, showed a slight descent. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Glass Fiber Production in Saudi Arabia

In value terms, glass fiber production soared to $X in 2021 estimated in export price. Over the period under review, production, however, showed a noticeable contraction. The pace of growth was the most pronounced in 2016 when the production volume increased by 77%. Glass fiber production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Glass Fiber Exports

Exports from Saudi Arabia

In 2021, shipments abroad of voiles, webs, mats and other articles of glass fibers was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a perceptible setback. The pace of growth was the most pronounced in 2014 when exports increased by 120%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, glass fiber exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a pronounced contraction. The pace of growth was the most pronounced in 2014 when exports increased by 71%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Egypt (X tons) and Bahrain (X tons) were the main destinations of glass fiber exports from Saudi Arabia, together accounting for 52% of total exports. Kuwait, India, Oman, Australia, Eritrea, Pakistan, Canada and Iraq lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +59.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glass fiber exported from Saudi Arabia were the United Arab Emirates ($X), Egypt ($X) and Kuwait ($X), with a combined 56% share of total exports. These countries were followed by Bahrain, Oman, Canada, Australia, India, Pakistan, Eritrea and Iraq, which together accounted for a further 31%.

Australia, with a CAGR of +72.6%, saw the highest growth rate of 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 fiber export price stood at $X per ton in 2021, with an increase of 24% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 24%. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Eritrea ($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 (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fiber Imports

Imports into Saudi Arabia

After three years of growth, overseas purchases of voiles, webs, mats and other articles of glass fibers decreased by -30.7% to X tons in 2021. Over the period under review, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 40%. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, glass fiber imports declined to $X in 2021. In general, imports showed a deep contraction. The growth pace was the most rapid in 2019 when imports increased by 102%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Kuwait (X tons), China (X tons) and the United Arab Emirates (X tons) were the main suppliers of glass fiber imports to Saudi Arabia, together comprising 85% of total imports. Bahrain and Italy lagged somewhat behind, together comprising a further 6.1%.

From 2012 to 2021, the biggest increases were recorded for Bahrain (with a CAGR of +10.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), China ($X) and Kuwait ($X) appeared to be the largest glass fiber suppliers to Saudi Arabia, together accounting for 68% of total imports. Bahrain and Italy lagged somewhat behind, together accounting for a further 16%.

In terms of the main suppliers, Italy, with a CAGR of +4.1%, saw the highest growth rate of 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

In 2021, the average glass fiber import price amounted to $X per ton, surging by 39% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 78%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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