Middle East: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in the Middle East

The Middle Eastern glass fibres and wool market totaled $X in 2022, almost unchanged from the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.2% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Glass Fibres And Glass Wool in the Middle East

In value terms, glass fibres and wool production amounted to $X in 2022 estimated in export price. In general, production posted a resilient increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by 27%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Glass Fibres And Glass Wool

Exports in the Middle East

In 2022, overseas shipments of glass fibres and glass wool were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports continue to indicate a relatively flat trend pattern. 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 fibres and wool exports surged to $X in 2022. The total export value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates represented the major exporter of glass fibres and glass wool in the Middle East, with the volume of exports recording X tons, which was near 50% of total exports in 2022. It was distantly followed by Saudi Arabia (X tons), Kuwait (X tons) and Turkey (X tons), together generating a 42% share of total exports. Bahrain (X tons) and Oman (X tons) took a relatively small share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the glass fibres and glass wool exports, with a CAGR of +16.9% from 2012 to 2022. At the same time, Oman (+3.4%) displayed positive paces of growth. Bahrain experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-4.2%), Kuwait (-6.4%) and Turkey (-7.8%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+39 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (-12 p.p.), Saudi Arabia (-12.7 p.p.) and Kuwait (-14.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) emerged as the largest glass fibres and wool supplier in the Middle East, comprising 43% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 17% share of total exports. It was followed by Kuwait, with a 12% share.

In the United Arab Emirates, glass fibres and wool exports increased at an average annual rate of +13.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (-4.1% per year) and Kuwait (-7.8% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, with a decrease of -9.4% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by 14% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted in the following year.

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 Bahrain ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+6.4%), while the other leaders experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports in the Middle East

After three years of decline, overseas purchases of glass fibres and glass wool increased by 15% to X tons in 2022. Over the period under review, imports, however, continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2013 with an increase of 48% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, glass fibres and wool imports surged to $X in 2022. In general, imports saw a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the largest importers of glass fibres and glass wool in the Middle East, together reaching near 53% of total imports. It was distantly followed by Turkey (X tons), Kuwait (X tons), Bahrain (X tons), Oman (X tons) and Iraq (X tons), together making up a 37% 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 the United Arab Emirates (with a CAGR of +11.3%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Turkey ($X) were the countries with the highest levels of imports in 2022, with a combined 64% share of total imports.

Among the main importing countries, Turkey, with a CAGR of +11.0%, recorded the highest rates of growth with regard to the value of imports, 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 the Middle East amounted to $X per ton, surging by 14% against the previous year. Import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass fibres and wool import price increased by +71.9% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the import price increased by 20% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :