Saudi Arabia: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Saudi Arabia

The Saudi glass fibre and article market shrank to $X in 2022, declining by X% against the previous year. Over the period under review, consumption showed a noticeable curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Glass Fibres and Glass Fibre Articles in Saudi Arabia

In value terms, glass fibre and article production contracted to $X in 2022 estimated in export price. Overall, production showed a pronounced contraction. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. Glass fibre and article production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Saudi Arabia

In 2022, overseas shipments of glass fibres and glass fibre articles increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, continue to indicate a mild contraction. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, glass fibre and article exports declined to $X in 2022. Overall, exports, however, recorded a perceptible descent. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for glass fibre and article exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, glass fibre and article exports to the United Arab Emirates exceeded the volume sent to the second major destination, India (X tons), twofold. Kuwait (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Kuwait (X% per year).

In value terms, the largest markets for glass fibre and article exported from Saudi Arabia were the United Arab Emirates ($X), Kuwait ($X) and Egypt ($X), together accounting for X% of total exports. Bahrain, Oman, India, Tunisia and Iraq lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, recorded the highest growth rate of the value of exports, among 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 2022, the average glass fibre and article export price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price showed a mild shrinkage. The pace of growth appeared the most rapid in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres and Glass Fibre Articles

Imports into Saudi Arabia

In 2022, the amount of glass fibres and glass fibre articles imported into Saudi Arabia declined to X tons, shrinking by X% on 2021. Over the period under review, imports showed a perceptible descent. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, glass fibre and article imports contracted markedly to $X in 2022. Overall, imports showed a perceptible downturn. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibre and article supplier to Saudi Arabia, accounting for a X% share of total imports. Moreover, glass fibre and article imports from China exceeded the figures recorded by the second-largest supplier, Kuwait (X tons), eightfold. The United Arab Emirates (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and the United Arab Emirates (X% per year).

In value terms, China ($X) constituted the largest supplier of glass fibres and glass fibre articles to Saudi Arabia, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2022, the average glass fibre and article import price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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