Middle East: Market for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles 2024

Market Size for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in the Middle East

In 2022, the Middle Eastern market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption posted temperate growth. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in the Middle East

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles stood at $X in 2022 estimated in export price. In general, production, however, posted a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production of growth remained at a lower figure.

Exports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Exports in the Middle East

After two years of growth, overseas shipments of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles decreased by X% to X tons in 2022. In general, exports, however, showed prominent growth. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles expanded rapidly to $X in 2022. Overall, exports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

In 2022, Bahrain (X tons) was the largest exporter of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles, comprising X% of total exports. It was distantly followed by Turkey (X tons), generating a X% share of total exports. The following exporters - Saudi Arabia (X tons) and the United Arab Emirates (X tons) - together made up X% of total exports.

Bahrain was also the fastest-growing in terms of the glass fibre filaments, rovings, chopped strands, and staple glass fibre articles exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Saudi Arabia (X%) displayed positive paces of growth. By contrast, Turkey (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Bahrain increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Bahrain, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, surging by X% against the previous year. Export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

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 the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Imports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Imports in the Middle East

In 2022, the amount of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles imported in the Middle East expanded to X tons, growing by X% compared with the previous year's figure. Total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles expanded notably to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports of reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Turkey represented the major importer of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles in the Middle East, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. Saudi Arabia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (X%) and Iran (X%). Israel (X tons), Qatar (X tons) and Oman (X tons) took a minor share of total imports.

Turkey was also the fastest-growing in terms of the glass fibre filaments, rovings, chopped strands, and staple glass fibre articles imports, with a CAGR of X% from 2012 to 2022. At the same time, Iran (X%), the United Arab Emirates (X%) and Israel (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%), Qatar (X%) and Oman (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) and Iran (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Qatar (X p.p.), Oman (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported glass fibre filaments, rovings, chopped strands, and staple glass fibre articles in the Middle East, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with an X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

In Turkey, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, import prices reached the peak figure in 2022 and is likely to continue growth in years to come.

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

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

Source: IndexBox Platform

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