MENA: Sails Market 2023

Sails Market Size in MENA

In 2021, the MENA's sails market decreased by -5.5% to $X, falling for the second consecutive year after two years of growth. The total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -28.8% against 2019 indices. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Sails Production in MENA

In value terms, sails production fell modestly to $X in 2021 estimated in export price. In general, production, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 52% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then dropped slightly in the following year.

Sails Exports

Exports in MENA

In 2021, shipments abroad of sails 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 posted a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of 41%. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, sails exports soared to $X in 2021. Overall, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 42% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

In 2021, Tunisia (X tons) represented the key exporter of sails, achieving 66% of total exports. It was distantly followed by Turkey (X tons) and Saudi Arabia (X tons), together committing a 31% share of total exports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to sails exports from Tunisia stood at +5.9%. At the same time, Saudi Arabia (+29.8%), Oman (+17.2%) and Turkey (+11.6%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +29.8% from 2012-2021. From 2012 to 2021, the share of Saudi Arabia and Turkey increased by +7.8 and +5.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sails supplying countries in MENA were Tunisia ($X), Turkey ($X) and Saudi Arabia ($X), together comprising 97% of total exports.

Saudi Arabia, with a CAGR of +32.4%, recorded the highest rates of growth with regard to the value of exports, among 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 2021, the export price in MENA amounted to $X per ton, picking up by 5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2014 an increase of 22%. Over the period under review, the export prices attained the maximum in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Turkey ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+3.4%), while the other leaders experienced more modest paces of growth.

Sails Imports

Imports in MENA

In 2021, approx. X tons of sails were imported in MENA; rising by 159% compared with 2020. Over the period under review, imports, however, continue to indicate a dramatic descent. The growth pace was the most rapid in 2018 when imports increased by 1,135% against the previous year. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, sails imports skyrocketed to $X in 2021. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 134%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the key importer of sails in MENA, with the volume of imports amounting to X tons, which was approx. 40% of total imports in 2021. Tunisia (X tons) held a 24% share (based on physical terms) of total imports, which put it in second place, followed by Israel (15%), Oman (5.5%) and Kuwait (5.3%). The following importers - Jordan (X tons) and Qatar (X tons) - each resulted at a 4.6% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Kuwait (with a CAGR of +48.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sails importing markets in MENA were Israel ($X), the United Arab Emirates ($X) and Tunisia ($X), together accounting for 72% of total imports. These countries were followed by Oman, Kuwait, Jordan and Qatar, which together accounted for a further 18%.

In terms of the main importing countries, Jordan, with a CAGR of +60.6%, 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

The import price in MENA stood at $X per ton in 2021, shrinking by -30.9% against the previous year. In general, the import price, however, continues to indicate a significant increase. The pace of growth appeared the most rapid in 2020 when the import price increased by 1,441% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced rapidly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+36.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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