Middle East: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in the Middle East

After two years of growth, the Middle Eastern market for polyethylene with a specific gravity of less than X, in primary forms decreased by X% to $X in 2023. The total consumption indicated a perceptible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2022, and then shrank remarkably in the following year.

Production of Polyethylene with a Specific Gravity of Less than X, in Primary Forms in the Middle East

In value terms, production of polyethylene with a specific gravity of less than X, in primary forms expanded notably to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production of growth failed to regain momentum.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports in the Middle East

In 2023, the amount of polyethylene with a specific gravity of less than X, in primary forms exported in the Middle East rose notably to X tons, surging by X% against 2022. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the exports of attained the peak figure at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms expanded notably to $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports of failed to regain momentum.

Exports by Country

Saudi Arabia was the largest exporter of polyethylene with a specific gravity of less than X, in primary forms in the Middle East, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2023. Iran (X tons) took the second position in the ranking, distantly followed by the United Arab Emirates (X tons). All these countries together held approx. X% share of total exports. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to polyethylene with a specific gravity of less than X exports from Saudi Arabia stood at X%. At the same time, the United Arab Emirates (X%) and Iran (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 2012-2023. By contrast, Kuwait (X%) illustrated a downward trend over the same period. While the share of Iran (X p.p.) and the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Kuwait (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest polyethylene with a specific gravity of less than X supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Iran ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Saudi Arabia was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Iran (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, waning by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and Iran ($X per ton), while Kuwait ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports in the Middle East

In 2023, the amount of polyethylene with a specific gravity of less than X, in primary forms imported in the Middle East soared to X tons, growing by X% compared with 2022 figures. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports of reached the maximum at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms declined to $X in 2023. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports of failed to regain momentum.

Imports by Country

Turkey represented the major importer of polyethylene with a specific gravity of less than X, in primary forms in the Middle East, with the volume of imports finishing at X tons, which was near X% of total imports in 2023. It was distantly followed by the United Arab Emirates (X tons) and Jordan (X tons), together constituting a X% share of total imports. The following importers - Israel (X tons), Iraq (X tons), Oman (X tons) and Lebanon (X tons) - together made up X% of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, Iraq (X%), the United Arab Emirates (X%), Oman (X%) and Jordan (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. By contrast, Israel (X%) and Lebanon (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Turkey, Iraq and the United Arab Emirates increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported polyethylene with a specific gravity of less than X, in primary forms in the Middle East, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Jordan, with a X% share.

In Turkey, imports of polyethylene with a specific gravity of less than X, in primary forms increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Jordan (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2023, reducing by X% against the previous year. Overall, the import price recorded a perceptible descent. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Jordan ($X per ton) and Lebanon ($X per ton), while Turkey ($X per ton) and Iraq ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Jordan (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform