GCC: Plastic Packaging Market 2022

Plastic Packaging Market Size in GCC

The GCC plastic packaging market dropped to $X in 2021, remaining constant against the previous year. The market value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Plastic Packaging Production in GCC

In value terms, plastic packaging production declined slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 27% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Plastic Packaging Exports

Exports in GCC

In 2021, exports of plastic packaging in GCC was estimated at X tons, increasing by 8.5% on the previous year. The total export volume increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 31%. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, plastic packaging exports surged to $X in 2021. The total export value increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when exports increased by 28%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Saudi Arabia represented the largest exporting country with an export of about X tons, which accounted for 60% of total exports. It was distantly followed by the United Arab Emirates (X tons) and Oman (X tons), together mixing up a 39% share of total exports.

From 2012 to 2021, the biggest increases were in Saudi Arabia (with a CAGR of +10.9%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Oman ($X) constituted the countries with the highest levels of exports in 2021, together comprising 98% of total exports.

Saudi Arabia, with a CAGR of +8.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, picking up by 15% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.9%. The growth pace was the most rapid in 2013 an increase of 38%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.8%), while the other leaders experienced a decline in the export price figures.

Plastic Packaging Imports

Imports in GCC

In 2021, supplies from abroad of plastic packaging increased by 7.7% to X tons, rising for the second year in a row after five years of decline. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 27%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, plastic packaging imports stood at $X in 2021. The total import value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 15%. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) were the key importers of plastic packaging in 2021, accounting for approx. 31% and 28% of total imports, respectively. Oman (X tons) ranks next in terms of the total imports with a 17% share, followed by Kuwait (13%), Qatar (5.5%) and Bahrain (5.3%).

From 2012 to 2021, the biggest increases were in Oman (with a CAGR of +7.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic packaging importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X), with a combined 79% share of total imports.

Among the main importing countries, Kuwait, with a CAGR of +6.9%, recorded 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 GCC amounted to $X per ton, rising by 3.1% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 12% against the previous year. Over the period under review, import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+2.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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