Egypt: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Egypt

The Egyptian glass fibres and wool market shrank sharply to $X in 2022, waning by -22.9% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Glass Fibres And Glass Wool in Egypt

In value terms, glass fibres and wool production dropped remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 121%. 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 Egypt

In 2022, overseas shipments of glass fibres and glass wool decreased by -29.7% to X tons, falling for the third consecutive year after eight years of growth. Over the period under review, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 1,794,484% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, glass fibres and wool exports dropped sharply to $X in 2022. Overall, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 880,182%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons) was the main destination for glass fibres and wool exports from Egypt, with a 32% share of total exports. Moreover, glass fibres and wool exports to Turkey exceeded the volume sent to the second major destination, the Netherlands (X tons), twofold. Spain (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Turkey totaled +7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+38.3% per year) and Spain (+156.1% per year).

In value terms, Turkey ($X), Germany ($X) and the Netherlands ($X) constituted the largest markets for glass fibres and wool exported from Egypt worldwide, with a combined 49% share of total exports.

Among the main countries of destination, Germany, with a CAGR of +160.7%, recorded the highest rates of growth with regard to the value of exports, 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, shrinking by -10.9% against the previous year. In general, the export price recorded a drastic downturn. The pace of growth appeared the most rapid in 2015 an increase of 70% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Morocco ($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 Belgium (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Egypt

After two years of decline, supplies from abroad of glass fibres and glass wool increased by 43% to X tons in 2022. Over the period under review, imports, however, saw a pronounced slump. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, glass fibres and wool imports expanded to $X in 2022. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by 50%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

China (X tons), Turkey (X tons) and Kuwait (X tons) were the main suppliers of glass fibres and wool imports to Egypt, together accounting for 96% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +14.3%), while imports for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of glass fibres and glass wool to Egypt, comprising 44% of total imports. The second position in the ranking was held by Turkey ($X), with a 21% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-6.1% per year) and Kuwait (+3.0% per year).

Import Prices by Country

In 2022, the average glass fibres and wool import price amounted to $X per ton, waning by -26.8% against the previous year. In general, the import price, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2020 an increase of 79%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then shrank notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :