GCC: Market for Cellular Plates, Sheets and Films of Polyymers of Styrene 2024

Market Size for Cellular Plates, Sheets and Films of Polyymers of Styrene in GCC

The GCC market for cellular plates, sheets and films of polyymers of styrene rose markedly to $X in 2022, picking up by 6.6% against the previous year. The total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.9% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Cellular Plates, Sheets and Films of Polyymers of Styrene in GCC

In value terms, production of cellular plates, sheets and films of polyymers of styrene reached $X in 2022 estimated in export price. The total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.2% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 50%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Cellular Plates, Sheets and Films of Polyymers of Styrene

Exports in GCC

In 2022, overseas shipments of cellular plates, sheets and films of polyymers of styrene decreased by -13.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports showed a mild slump. The pace of growth was the most pronounced in 2020 when exports increased by 36% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, exports of cellular plates, sheets and films of polyymers of styrene shrank to $X in 2022. Overall, exports recorded a perceptible contraction. The pace of growth was the most pronounced in 2020 when exports increased by 38%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Kuwait was the largest exporter of cellular plates, sheets and films of polyymers of styrene in GCC, with the volume of exports finishing at X tons, which was near 59% of total exports in 2022. Saudi Arabia (X tons) ranks second in terms of the total exports with a 27% share, followed by the United Arab Emirates (13%).

From 2012 to 2022, average annual rates of growth with regard to polystyrene cellular plates, sheets and films exports from Kuwait stood at -1.6%. Saudi Arabia (-1.2%) and the United Arab Emirates (-2.8%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X) remains the largest polystyrene cellular plates, sheets and films supplier in GCC, comprising 62% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Kuwait stood at -3.8%. In the other countries, the average annual rates were as follows: Saudi Arabia (-1.8% per year) and the United Arab Emirates (-2.4% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, flattening at the previous year. Over the period under review, the export price, however, saw a mild slump. The growth pace was the most rapid in 2016 an increase of 10% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while Saudi Arabia ($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 (+0.5%), while the other leaders experienced a decline in the export price figures.

Imports of Cellular Plates, Sheets and Films of Polyymers of Styrene

Imports in GCC

In 2022, imports of cellular plates, sheets and films of polyymers of styrene in GCC soared to X tons, jumping by 17% on the year before. In general, imports showed notable growth. The pace of growth appeared the most rapid in 2013 when imports increased by 104% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of cellular plates, sheets and films of polyymers of styrene contracted to $X in 2022. Over the period under review, imports saw a tangible increase. The most prominent rate of growth was recorded in 2013 with an increase of 75%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) was the major importer of cellular plates, sheets and films of polyymers of styrene, creating 54% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 16% share, followed by Oman (9.1%), Qatar (8%), Kuwait (7.2%) and Bahrain (5.2%).

Saudi Arabia was also the fastest-growing in terms of the cellular plates, sheets and films of polyymers of styrene imports, with a CAGR of +13.7% from 2012 to 2022. At the same time, Bahrain (+12.0%), Kuwait (+7.0%) and the United Arab Emirates (+1.5%) displayed positive paces of growth. By contrast, Qatar (-4.5%) and Oman (-7.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia, Bahrain and Kuwait increased by +32, +2.7 and +1.8 percentage points, respectively.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported cellular plates, sheets and films of polyymers of styrene in GCC, comprising 48% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 23% share of total imports. It was followed by Qatar, with a 10% share.

In Saudi Arabia, imports of cellular plates, sheets and films of polyymers of styrene expanded at an average annual rate of +12.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (-0.5% per year) and Qatar (-3.7% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, dropping by -16.4% against the previous year. Overall, the import price recorded a slight setback. The pace of growth appeared the most rapid in 2021 an increase of 45%. As a result, import price reached the peak level of $X per ton, and then plummeted in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+0.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform