Middle East: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in the Middle East

The Middle Eastern glass fibre chopped strand market fell modestly to $X in 2022, reducing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Glass Fibre Chopped Strands in the Middle East

In value terms, glass fibre chopped strand production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Glass Fibre Chopped Strands

Exports in the Middle East

In 2022, overseas shipments of glass fibre chopped strands decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports recorded a deep downturn. The pace of growth was the most pronounced in 2020 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, glass fibre chopped strand exports rose remarkably to $X in 2022. Over the period under review, exports saw a pronounced downturn. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey represented the largest exporting country with an export of about X tons, which resulted at X% of total exports. It was distantly followed by the United Arab Emirates (X tons), achieving a X% share of total exports.

Exports from Turkey decreased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) 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 X% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates increased by X percentage points.

In value terms, Turkey ($X) remains the largest glass fibre chopped strand supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

In Turkey, glass fibre chopped strand exports decreased by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Turkey totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Imports of Glass Fibre Chopped Strands

Imports in the Middle East

In 2022, approx. X tons of glass fibre chopped strands were imported in the Middle East; dropping by X% on the previous year's figure. Over the period under review, imports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, glass fibre chopped strand imports totaled $X in 2022. In general, imports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2016 when imports increased by X%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

Turkey was the major importer of glass fibre chopped strands in the Middle East, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. Israel (X tons) took the second position in the ranking, followed by Iran (X tons) and the United Arab Emirates (X tons). All these countries together held approx. X% share of total imports.

Turkey was also the fastest-growing in terms of the glass fibre chopped strands imports, with a CAGR of X% from 2012 to 2022. At the same time, Iran (X%), Israel (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Turkey (X p.p.) significantly strengthened its position in terms of the total imports, while Iran, Israel and the United Arab Emirates saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

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

In Turkey, glass fibre chopped strand imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Israel (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, rising by X% against the previous year. Over the period under review, the import price, however, recorded a pronounced slump. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :