Middle East: Market for Polyesters in Primary Forms (excluding Polyacetals, Polyethers, Epoxide Resins, Polycarbonates, Alkyd Resins, Polyethylene Terephthalate, other Unsaturated Polyesters) 2024

Market Size for Polyesters in Primary Forms (excluding Polyacetals, Polyethers, Epoxide Resins, Polycarbonates, Alkyd Resins, Polyethylene Terephthalate, other Unsaturated Polyesters) in the Middle East

The Middle Eastern polyesters in primary forms market fell sharply to $X in 2022, which is down by X% against the previous year. In general, consumption, however, continues to indicate buoyant growth. As a result, consumption attained the peak level of $X, and then fell markedly in the following year.

Production of Polyesters in Primary Forms (excluding Polyacetals, Polyethers, Epoxide Resins, Polycarbonates, Alkyd Resins, Polyethylene Terephthalate, other Unsaturated Polyesters) in the Middle East

In value terms, polyesters in primary forms production fell significantly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Polyesters in Primary Forms (excluding Polyacetals, Polyethers, Epoxide Resins, Polycarbonates, Alkyd Resins, Polyethylene Terephthalate, other Unsaturated Polyesters)

Exports in the Middle East

For the fourth year in a row, the Middle East recorded growth in overseas shipments of polyesters in primary forms (excluding polyacetals, polyethers, epoxide resins, polycarbonates, alkyd resins, polyethylene terephthalate, other unsaturated polyesters), which increased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, polyesters in primary forms exports skyrocketed to $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Turkey represented the main exporting country with an export of around X tons, which resulted at X% of total exports. Saudi Arabia (X tons) ranks second in terms of the total exports with a X% share, followed by the United Arab Emirates (X%). Israel (X tons) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Israel (X%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Israel increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest polyesters in primary forms supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

In Turkey, polyesters in primary forms exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, standing approx. at the previous year. Export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polyesters in primary forms export price increased by X% against 2020 indices. The growth pace was the most rapid in 2018 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

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 Israel ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, 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 Polyesters in Primary Forms (excluding Polyacetals, Polyethers, Epoxide Resins, Polycarbonates, Alkyd Resins, Polyethylene Terephthalate, other Unsaturated Polyesters)

Imports in the Middle East

In 2022, purchases abroad of polyesters in primary forms (excluding polyacetals, polyethers, epoxide resins, polycarbonates, alkyd resins, polyethylene terephthalate, other unsaturated polyesters) increased by X% to X tons, rising for the fourth year in a row after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, polyesters in primary forms imports rose remarkably to $X in 2022. Total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Turkey (X tons), distantly followed by the United Arab Emirates (X tons), Bahrain (X tons) and Saudi Arabia (X tons) were the major importers of polyesters in primary forms (excluding polyacetals, polyethers, epoxide resins, polycarbonates, alkyd resins, polyethylene terephthalate, other unsaturated polyesters), together mixing up X% of total imports. The following importers - Israel (X tons) and Iran (X tons) - each accounted for an X% 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 Bahrain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported polyesters in primary forms (excluding polyacetals, polyethers, epoxide resins, polycarbonates, alkyd resins, polyethylene terephthalate, other unsaturated polyesters) in the Middle East, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Bahrain, with a X% share.

In Turkey, polyesters in primary forms imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Bahrain (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price, however, showed a mild descent. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a 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 Israel ($X per ton), while Bahrain ($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