Saudi Arabia: Ethylene Polymer Bag Market 2024

Ethylene Polymer Bag Market Size in Saudi Arabia

The Saudi ethylene polymer bag market declined to $X in 2021, which is down by -9.4% against the previous year. In general, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -28.3% against 2017 indices. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Ethylene Polymer Bag Production in Saudi Arabia

In value terms, ethylene polymer bag production contracted slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the production volume increased by 34% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Ethylene Polymer Bag Exports

Exports from Saudi Arabia

In 2022, shipments abroad of sacks and bags of polymers of ethylene decreased by -32.6% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2021 when exports increased by 187% against the previous year. As a result, the exports reached the peak of X tons, and then dropped markedly in the following year.

In value terms, ethylene polymer bag exports declined notably to $X in 2022. Overall, exports, however, continue to indicate prominent growth. The pace of growth was the most pronounced in 2021 when exports increased by 161%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Yemen (X tons), Sudan (X tons) and Kuwait (X tons) were the main destinations of ethylene polymer bag exports from Saudi Arabia, with a combined 63% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kuwait (with a CAGR of +62.2%), while the other leaders experienced more modest paces of growth.

In value terms, Yemen ($X) remains the key foreign market for sacks and bags of polymers of ethylene exports from Saudi Arabia, comprising 39% of total exports. The second position in the ranking was taken by Sudan ($X), with a 17% share of total exports. It was followed by the United Arab Emirates, with a 9.7% share.

From 2012 to 2022, the average annual growth rate of value to Yemen amounted to +23.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (+11.8% per year) and the United Arab Emirates (+39.1% per year).

Export Prices by Country

In 2022, the average ethylene polymer bag export price amounted to $X per ton, increasing by 2.5% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ethylene polymer bag export price decreased by -26.6% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 51%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Yemen (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

Ethylene Polymer Bag Imports

Imports into Saudi Arabia

After three years of growth, purchases abroad of sacks and bags of polymers of ethylene decreased by -11.4% to X tons in 2022. Overall, imports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2014 with an increase of 67%. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, ethylene polymer bag imports dropped to $X in 2022. Over the period under review, imports, however, showed a prominent increase. The pace of growth was the most pronounced in 2014 when imports increased by 95% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of ethylene polymer bag to Saudi Arabia, with a 66% share of total imports. Moreover, ethylene polymer bag imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Bahrain (X tons), with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.9% per year) and Bahrain (+5.3% per year).

In value terms, the largest ethylene polymer bag suppliers to Saudi Arabia were the United Arab Emirates ($X), China ($X) and Germany ($X), with a combined 89% share of total imports.

Among the main suppliers, Germany, with a CAGR of +26.8%, saw the highest rates of growth with regard to 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 2022, the average ethylene polymer bag import price amounted to $X per ton, picking up by 2.7% against the previous year. In general, the import price, however, continues to indicate a mild shrinkage. The pace of growth was the most pronounced in 2014 when the average import price increased by 16% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :