Iran: Flat Glass Market 2024

Flat Glass Market Size in Iran

In 2021, the Iranian flat glass market decreased by -7.2% to $X, falling for the second consecutive year after two years of growth. Overall, consumption showed a perceptible reduction. The pace of growth appeared the most rapid in 2018 with an increase of 5.3% against the previous year. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Flat Glass Production in Iran

In value terms, flat glass production totaled $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by 14%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

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Flat Glass Exports

Exports from Iran

After two years of decline, shipments abroad of flat glass increased by 57% to X tons in 2021. Overall, exports posted a buoyant expansion. The growth pace was the most rapid in 2015 with an increase of 81%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, flat glass exports skyrocketed to $X in 2021. Over the period under review, exports recorded resilient growth. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X tons), Azerbaijan (X tons) and Georgia (X tons) were the main destinations of flat glass exports from Iran, together accounting for 49% of total exports. These countries were followed by Armenia, the United Arab Emirates, Qatar, Spain, India, Oman, Bulgaria, Lebanon and Iraq, which together accounted for a further 36%.

From 2012 to 2021, the biggest increases were recorded for Lebanon (with a CAGR of +1,978.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for flat glass exported from Iran were Turkey ($X), Azerbaijan ($X) and Georgia ($X), with a combined 44% share of total exports. These countries were followed by Armenia, India, Spain, the United Arab Emirates, Lebanon, Bulgaria, Iraq, Qatar and Oman, which together accounted for a further 34%.

Lebanon, with a CAGR of +1,875.7%, recorded the highest growth rate of the value of exports, in terms of 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

In 2021, the average flat glass export price amounted to $X per ton, with an increase of 31% against the previous year. Overall, the export price, however, recorded a slight curtailment. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to Qatar ($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 Spain (+22.5%), while the prices for the other major destinations experienced more modest paces of growth.

Flat Glass Imports

Imports into Iran

In 2021, overseas purchases of flat glass increased by 120% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, recorded a perceptible decrease. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, flat glass imports skyrocketed to $X in 2021. In general, imports saw a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Belgium (X tons) constituted the largest flat glass supplier to Iran, with a 44% share of total imports. Moreover, flat glass imports from Belgium exceeded the figures recorded by the second-largest supplier, Italy (X tons), tenfold. The third position in this ranking was held by Turkey (X tons), with a 1% share.

From 2012 to 2021, the average annual growth rate of volume from Belgium stood at +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.1% per year) and Turkey (+20.6% per year).

In value terms, Belgium ($X) constituted the largest supplier of flat glass to Iran, comprising 37% of total imports. The second position in the ranking was held by Italy ($X), with a 6.5% share of total imports. It was followed by China, with a 2% share.

From 2012 to 2021, the average annual growth rate of value from Belgium stood at +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.8% per year) and China (-27.6% per year).

Import Prices by Country

The average flat glass import price stood at $X per ton in 2021, shrinking by -6.4% against the previous year. Over the period under review, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, flat glass import price decreased by -14.5% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 49%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+32.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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