Middle East: Flat Glass Market 2024

Flat Glass Market Size in the Middle East

For the eighth year in a row, the Middle Eastern flat glass market recorded growth in sales value, which increased by 0.1% to $X in 2021. The market value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2021 and is likely to see gradual growth in the immediate term.

Flat Glass Production in the Middle East

In value terms, flat glass production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 15%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Flat Glass Exports

Exports in the Middle East

In 2021, after three years of decline, there was significant growth in overseas shipments of flat glass, when their volume increased by 39% to X tons. In general, exports enjoyed a remarkable increase. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, flat glass exports surged to $X in 2021. Total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Iran (X tons), Turkey (X tons) and Saudi Arabia (X tons), together reaching 83% of total export. It was distantly followed by the United Arab Emirates (X tons), committing a 12% share of total exports. The following exporters - Israel (X tons) and Palestine (X tons) - each reached a 4.2% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Iran (with a CAGR of +19.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Turkey ($X) and Iran ($X) constituted the countries with the highest levels of exports in 2021, with a combined 78% share of total exports.

Iran, with a CAGR of +18.0%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, rising by 20% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Palestine ($X per ton), while Iran ($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 (+7.8%), while the other leaders experienced a decline in the export price figures.

Flat Glass Imports

Imports in the Middle East

In 2021, overseas purchases of flat glass increased by 4.4% to X tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 26% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, flat glass imports surged to $X in 2021. The total import value increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 24%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) was the largest importer of flat glass, generating 34% of total imports. The United Arab Emirates (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Iraq (13%), Qatar (5.7%), Israel (5.2%), Yemen (4.8%) and Saudi Arabia (4.8%). Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to flat glass imports into Turkey stood at +6.7%. At the same time, Iraq (+14.7%), Qatar (+8.6%), Israel (+7.5%), Yemen (+6.1%), the United Arab Emirates (+4.7%) and Kuwait (+1.6%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +14.7% from 2012-2021. Saudi Arabia experienced a relatively flat trend pattern. Iraq (+7.2 p.p.), Turkey (+5.6 p.p.) and Qatar (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by -2.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Iraq ($X) were the countries with the highest levels of imports in 2021, with a combined 61% share of total imports.

In terms of the main importing countries, Iraq, with a CAGR of +15.6%, 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 the Middle East stood at $X per ton in 2021, growing by 18% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Yemen (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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