Middle East: Glass Fibre Filament Market 2024

Glass Fibre Filament Market Size in the Middle East

The Middle Eastern glass fibre filament market was finally on the rise to reach $X in 2021, after four years of decline. The total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Glass Fibre Filament Production in the Middle East

In value terms, glass fibre filament production rose remarkably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a slight decrease. The growth pace was the most rapid in 2016 when the production volume increased by 74%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Glass Fibre Filament Exports

Exports in the Middle East

In 2021, the amount of glass fibre filaments exported in the Middle East soared to X tons, growing by 40% on 2020. In general, exports, however, saw a slight shrinkage. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass fibre filament exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey was the key exporting country with an export of around X tons, which amounted to 55% of total exports. Saudi Arabia (X tons) ranks second in terms of the total exports with a 26% share, followed by the United Arab Emirates (10%) and Bahrain (6.7%). Oman (X tons) followed a long way behind the leaders.

Exports from Turkey decreased at an average annual rate of -2.4% from 2012 to 2021. At the same time, the United Arab Emirates (+30.6%) and Saudi Arabia (+25.3%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +30.6% from 2012-2021. By contrast, Oman (-6.3%) and Bahrain (-17.3%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+23 p.p.) and the United Arab Emirates (+9.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Turkey (-5.1 p.p.) and Bahrain (-25.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest glass fibre filament supplier in the Middle East, comprising 55% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 23% share of total exports. It was followed by the United Arab Emirates, with a 15% share.

From 2012 to 2021, the average annual growth rate of value in Turkey amounted to -3.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+20.8% per year) and the United Arab Emirates (+37.4% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, surging by 23% against the previous year. Overall, the export price recorded a relatively flat trend pattern. Over the period under review, the 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 amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.2%), while the other leaders experienced mixed trends in the export price figures.

Glass Fibre Filament Imports

Imports in the Middle East

In 2021, approx. X tons of glass fibre filaments were imported in the Middle East; growing by 31% against the previous year. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +47.8% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre filament imports surged to $X in 2021. Overall, imports continue to indicate buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) represented the main importer of glass fibre filaments, comprising 46% of total imports. Saudi Arabia (X tons) took a 25% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (18%) and Qatar (5.7%). The following importers - Iran (X tons) and Oman (X tons) - together made up 4.7% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Turkey (with a CAGR of +17.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibre filament importing markets in the Middle East were Turkey ($X), Saudi Arabia ($X) and the United Arab Emirates ($X), together comprising 89% of total imports.

In terms of the main importing countries, Turkey, with a CAGR of +17.9%, 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

In 2021, the import price in the Middle East amounted to $X per ton, jumping by 50% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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