GCC: Glass Fibre Filament Market 2024

Glass Fibre Filament Market Size in GCC

The GCC glass fibre filament market skyrocketed to $X in 2021, with an increase of 55% against the previous year. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Glass Fibre Filament Production in GCC

In value terms, glass fibre filament production fell to $X in 2021 estimated in export price. Over the period under review, production showed a perceptible setback. The most prominent rate of growth was recorded in 2016 when the production volume increased by 461%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Glass Fibre Filament Exports

Exports in GCC

In 2021, shipments abroad of glass fibre filaments was finally on the rise to reach X tons after two years of decline. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 43%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, glass fibre filament exports soared to $X in 2021. Total exports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia was the main exporter of glass fibre filaments in GCC, with the volume of exports finishing at X tons, which was approx. 57% of total exports in 2021. The United Arab Emirates (X tons) held a 23% share (based on physical terms) of total exports, which put it in second place, followed by Bahrain (15%) and Oman (4.7%).

Exports from Saudi Arabia increased at an average annual rate of +25.3% from 2012 to 2021. At the same time, the United Arab Emirates (+30.6%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of +30.6% from 2012-2021. By contrast, Oman (-6.3%) and Bahrain (-17.3%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+49 p.p.) and the United Arab Emirates (+21 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Oman (-3.7 p.p.) and Bahrain (-67.1 p.p.) displayed negative dynamics.

In value terms, the largest glass fibre filament supplying countries in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Bahrain ($X), together accounting for 96% of total exports.

The United Arab Emirates, with a CAGR of +37.4%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, rising by 41% against the previous year. Export price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.2%), while the other leaders experienced mixed trends in the export price figures.

Glass Fibre Filament Imports

Imports in GCC

Glass fibre filament imports skyrocketed to X tons in 2021, picking up by 20% against the previous year's figure. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +71.0% against 2016 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 46%. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, glass fibre filament imports soared to $X in 2021. Over the period under review, imports continue to indicate a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) represented roughly 83% of total imports in 2021. It was distantly followed by Qatar (X tons), committing an 11% share of total imports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +9.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported glass fibre filaments in GCC, comprising 59% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 27% share of total imports. It was followed by Qatar, with a 9.6% share.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia stood at +9.5%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+10.0% per year) and Qatar (+5.9% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, increasing by 71% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. 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 destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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