MENA: Polyethylene Binder Market 2023

Polyethylene Binder Market Size in MENA

After three years of decline, the MENA's polyethylene binder market increased by 12% to $X in 2022. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Polyethylene Binder Production in MENA

In value terms, polyethylene binder production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 57%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Polyethylene Binder Exports

Exports in MENA

In 2022, shipments abroad of polyethylene or polypropylene binder or baler (agricultural) twines decreased by -22.3% to X tons for the first time since 2015, thus ending a six-year rising trend. In general, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by 81% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped remarkably in the following year.

In value terms, polyethylene binder exports contracted to $X in 2022. Over the period under review, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 68%. The level of export peaked at $X in 2021, and then shrank in the following year.

Exports by Country

In 2022, Turkey (X tons) represented the largest exporter of polyethylene or polypropylene binder or baler (agricultural) twines, constituting 66% of total exports. Israel (X tons) ranks second in terms of the total exports with a 19% share, followed by the United Arab Emirates (7.2%). The following exporters - Morocco (X tons) and Iran (X tons) - each recorded a 5.9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to polyethylene binder exports from Turkey stood at +34.9%. At the same time, Israel (+91.0%), Morocco (+27.5%) and the United Arab Emirates (+5.9%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in MENA, with a CAGR of +91.0% from 2012-2022. By contrast, Iran (-1.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Israel and Morocco increased by +46, +18 and +1.5 percentage points, respectively.

In value terms, Turkey ($X) remains the largest polyethylene binder supplier in MENA, comprising 64% of total exports. The second position in the ranking was held by Israel ($X), with a 21% share of total exports. It was followed by the United Arab Emirates, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to +31.7%. In the other countries, the average annual rates were as follows: Israel (+89.5% per year) and the United Arab Emirates (+7.7% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, increasing by 9.7% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 19%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Israel ($X per ton) and the United Arab Emirates ($X per ton), while Iran ($X per ton) and Morocco ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.7%), while the other leaders experienced a decline in the export price figures.

Polyethylene Binder Imports

Imports in MENA

After five years of growth, overseas purchases of polyethylene or polypropylene binder or baler (agricultural) twines decreased by -0.5% to X tons in 2022. Over the period under review, imports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 47% against the previous year. The volume of import peaked at X tons in 2021, and then fell modestly in the following year.

In value terms, polyethylene binder imports expanded to $X in 2022. In general, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 40%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons), distantly followed by Oman (X tons), Jordan (X tons), the United Arab Emirates (X tons) and Israel (X tons) represented the largest importers of polyethylene or polypropylene binder or baler (agricultural) twines, together constituting 78% of total imports. Iraq (X tons), Morocco (X tons), Egypt (X tons), Yemen (X tons), Algeria (X tons) and Syrian Arab Republic (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Jordan (with a CAGR of +72.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported polyethylene or polypropylene binder or baler (agricultural) twines in MENA, comprising 32% of total imports. The second position in the ranking was held by Jordan ($X), with a 15% share of total imports. It was followed by Israel, with a 14% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to +19.7%. The remaining importing countries recorded the following average annual rates of imports growth: Jordan (+72.4% per year) and Israel (+17.6% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, rising by 4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2021 an increase of 16%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Morocco ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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