GCC: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in GCC

In 2022, the GCC glass fibre and article market decreased by X% to $X, falling for the fourth consecutive year after two years of growth. In general, consumption showed a pronounced descent. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Glass Fibres and Glass Fibre Articles in GCC

In value terms, glass fibre and article production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports in GCC

In 2022, overseas shipments of glass fibres and glass fibre articles increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports posted a strong expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass fibre and article exports skyrocketed to $X in 2022. Overall, exports showed buoyant growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Bahrain was the key exporter of glass fibres and glass fibre articles in GCC, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. The United Arab Emirates (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (X%) and Kuwait (X%).

Bahrain was also the fastest-growing in terms of the glass fibres and glass fibre articles exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Kuwait (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of Bahrain (X p.p.) and the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest glass fibre and article supplying countries in GCC were Bahrain ($X), the United Arab Emirates ($X) and Kuwait ($X), with a combined X% share of total exports.

Bahrain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Glass Fibres and Glass Fibre Articles

Imports in GCC

In 2022, glass fibre and article imports in GCC declined to X tons, with a decrease of X% compared with the previous year. Over the period under review, imports showed a mild setback. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, glass fibre and article imports reduced slightly to $X in 2022. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) prevails in imports structure, together achieving X% of total imports. Oman (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (X%). The following importers - Bahrain (X tons) and Kuwait (X tons) - each finished at a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Kuwait (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest glass fibre and article importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X), together comprising X% of total imports. Oman, Bahrain and Kuwait lagged somewhat behind, together comprising a further X%.

Kuwait, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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