Azerbaijan: Ethylene Polymer Bag Market 2024

Ethylene Polymer Bag Market Size in Azerbaijan

The Azerbaijani ethylene polymer bag market fell modestly to $X in 2022, shrinking by -1.5% against the previous year. In general, consumption continues to indicate a mild contraction. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Ethylene Polymer Bag Production in Azerbaijan

In value terms, ethylene polymer bag production dropped to $X in 2022 estimated in export price. In general, production showed a noticeable downturn. The most prominent rate of growth was recorded in 2017 with an increase of 36%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Ethylene Polymer Bag Exports

Exports from Azerbaijan

In 2022, shipments abroad of sacks and bags of polymers of ethylene decreased by -32.9% to X tons, falling for the second year in a row after five years of growth. Over the period under review, exports, however, recorded slight growth. The most prominent rate of growth was recorded in 2013 with an increase of 45%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, ethylene polymer bag exports dropped notably to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 63%. The exports peaked at $X in 2021, and then declined remarkably in the following year.

Exports by Country

Russia (X tons) was the main destination for ethylene polymer bag exports from Azerbaijan, accounting for a 58% share of total exports. Moreover, ethylene polymer bag exports to Russia exceeded the volume sent to the second major destination, Georgia (X tons), twofold. Kazakhstan (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Russia amounted to -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (+10.4% per year) and Kazakhstan (+17.6% per year).

In value terms, Russia ($X) remains the key foreign market for sacks and bags of polymers of ethylene exports from Azerbaijan, comprising 57% of total exports. The second position in the ranking was taken by Georgia ($X), with a 23% share of total exports. It was followed by Kazakhstan, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at -4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (+15.7% per year) and Kazakhstan (+17.2% per year).

Export Prices by Country

The average ethylene polymer bag export price stood at $X per ton in 2022, rising by 9.1% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 26% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Ukraine ($X per ton) and Kazakhstan ($X per ton), while the average price for exports to Georgia ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (+4.8%), while the prices for the other major destinations experienced mixed trend patterns.

Ethylene Polymer Bag Imports

Imports into Azerbaijan

In 2022, approx. X tons of sacks and bags of polymers of ethylene were imported into Azerbaijan; surging by 79% compared with 2021. In general, imports showed significant growth. The pace of growth appeared the most rapid in 2013 when imports increased by 141%. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, ethylene polymer bag imports soared to $X in 2022. Overall, imports showed a significant increase. The pace of growth was the most pronounced in 2016 when imports increased by 207% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Iran (X tons) constituted the largest supplier of ethylene polymer bag to Azerbaijan, with a 85% share of total imports. Moreover, ethylene polymer bag imports from Iran exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. China (X tons) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Iran totaled +50.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-0.8% per year) and China (+24.7% per year).

In value terms, Iran ($X) constituted the largest supplier of sacks and bags of polymers of ethylene to Azerbaijan, comprising 63% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by Turkey, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value from Iran totaled +64.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+27.7% per year) and Turkey (+3.8% per year).

Import Prices by Country

The average ethylene polymer bag import price stood at $X per ton in 2022, dropping by -11% against the previous year. Overall, the import price showed a pronounced decrease. The most prominent rate of growth was recorded in 2016 when the average import price increased by 73% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 China ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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