Middle East: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in the Middle East

In 2022, the Middle Eastern polyethylene in primary forms market increased by X% to $X, rising for the third consecutive year after three years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Polyethylene in Primary Forms in the Middle East

In value terms, polyethylene in primary forms production contracted modestly to $X in 2022 estimated in export price. The total output value 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 throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Exports of Polyethylene in Primary Forms

Exports in the Middle East

In 2022, overseas shipments of polyethylene in primary forms decreased by X% to X tons, falling for the second year in a row after nine years of growth. The total export 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 2017 with an increase of X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, polyethylene in primary forms exports reduced to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

Saudi Arabia was the main exporting country with an export of about X tons, which recorded X% of total exports. It was distantly followed by Iran (X tons) and the United Arab Emirates (X tons), together achieving a X% share of total exports. Oman (X tons) and Kuwait (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to polyethylene in primary forms exports from Saudi Arabia stood at X%. At the same time, Oman (X%), Iran (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Kuwait (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Iran, Oman, the United Arab Emirates and Kuwait increased by X, X, X and X percentage points, respectively.

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

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia amounted to X%. 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

The export price in the Middle East stood at $X per ton in 2022, falling by X% against the previous year. Overall, the export price saw a slight contraction. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Polyethylene in Primary Forms

Imports in the Middle East

In 2022, purchases abroad of polyethylene in primary forms increased by X% to X tons, rising for the third consecutive year after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, polyethylene in primary forms imports amounted to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Turkey represented the major importer of polyethylene in primary forms in the Middle East, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Israel (X%). The following importers - Saudi Arabia (X tons), Jordan (X tons), Oman (X tons) and Iraq (X tons) - each resulted at a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to polyethylene in primary forms imports into Turkey stood at X%. At the same time, Iraq (X%), the United Arab Emirates (X%), Oman (X%) and Israel (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 2012-2022. By contrast, Saudi Arabia (X%) and Jordan (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Turkey (X p.p.) and Iraq (X p.p.) significantly strengthened its position in terms of the total imports, while Israel, Saudi Arabia and Jordan saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in Turkey stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Israel (X% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, saw a mild decrease. The growth pace was 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 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 Jordan ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, 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