MENA: Illuminated Sign Market 2024

Illuminated Sign Market Size in MENA

In 2021, the MENA's illuminated sign market was finally on the rise to reach $X after two years of decline. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Illuminated Sign Production in MENA

In value terms, illuminated sign production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, posted moderate growth. The pace of growth was the most pronounced in 2018 with an increase of 55%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Illuminated Sign Exports

Exports in MENA

Illuminated sign exports soared to X tons in 2021, picking up by 66% compared with 2020 figures. Total exports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, illuminated sign exports surged to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +72.2% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Turkey (X tons) was the main exporter of illuminated signs and illuminated name-plates, constituting 76% of total exports. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Tunisia (X tons). All these countries together took approx. 22% share of total exports.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of illuminated signs and illuminated name-plates. At the same time, Tunisia (+29.0%) and the United Arab Emirates (+16.6%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +29.0% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates and Tunisia increased by +10 and +5.8 percentage points, respectively.

In value terms, Turkey ($X) remains the largest illuminated sign supplier in MENA, comprising 72% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 20% share of total exports.

In Turkey, illuminated sign exports increased at an average annual rate of +3.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+29.0% per year) and Tunisia (+20.9% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, dropping by -2.4% against the previous year. Over the last nine years, it increased at an average annual rate of +3.9%. The pace of growth was the most pronounced in 2018 when the export price increased by 19%. The level of export peaked at $X per ton in 2020, and then dropped slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Tunisia ($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 (+10.6%), while the other leaders experienced mixed trends in the export price figures.

Illuminated Sign Imports

Imports in MENA

In 2021, approx. X tons of illuminated signs and illuminated name-plates were imported in MENA; jumping by 22% on the previous year. In general, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, illuminated sign imports soared to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Saudi Arabia represented the key importer of illuminated signs and illuminated name-plates in MENA, with the volume of imports finishing at X tons, which was near 45% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), Morocco (X tons) and Qatar (X tons), together committing a 27% share of total imports. The following importers - Egypt (X tons), Turkey (X tons), Iraq (X tons), Kuwait (X tons), Oman (X tons) and Tunisia (X tons) - together made up 22% of total imports.

Imports into Saudi Arabia increased at an average annual rate of +5.3% from 2012 to 2021. At the same time, Kuwait (+10.8%), Tunisia (+7.8%), Egypt (+7.3%), Qatar (+3.9%) and Morocco (+3.8%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in MENA, with a CAGR of +10.8% from 2012-2021. Oman and the United Arab Emirates experienced a relatively flat trend pattern. By contrast, Turkey (-5.5%) and Iraq (-11.2%) illustrated a downward trend over the same period. Saudi Arabia (+15 p.p.), Kuwait (+2.1 p.p.), Morocco (+1.9 p.p.), Egypt (+1.9 p.p.) and Qatar (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Turkey and Iraq saw its share reduced by -3.4% and -8.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Morocco ($X) were the countries with the highest levels of imports in 2021, together comprising 60% of total imports. Egypt, Qatar, Turkey, Oman, Iraq, Kuwait and Tunisia lagged somewhat behind, together accounting for a further 31%.

Egypt, with a CAGR of +8.3%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, growing by 2.3% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the import price increased by 13% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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