GCC: Ethylene-Vinyl Acetate Copolymers Market 2024

Ethylene-Vinyl Acetate Copolymers Market Size in GCC

The GCC ethylene-vinyl acetate copolymers market fell notably to $X in 2022, with a decrease of -50.2% against the previous year. Over the period under review, consumption showed a abrupt descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Ethylene-Vinyl Acetate Copolymers Production in GCC

In value terms, ethylene-vinyl acetate copolymers production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production enjoyed prominent growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 41%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Ethylene-Vinyl Acetate Copolymers Exports

Exports in GCC

In 2022, after four years of growth, there was significant decline in overseas shipments of ethylene-vinyl acetate copolymers in primary forms, when their volume decreased by -15.2% to X tons. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 173%. The volume of export peaked at X tons in 2021, and then plummeted in the following year.

In value terms, ethylene-vinyl acetate copolymers exports fell rapidly to $X in 2022. Overall, exports, however, saw a significant increase. The growth pace was the most rapid in 2016 when exports increased by 124% against the previous year. The level of export peaked at $X in 2021, and then contracted remarkably in the following year.

Exports by Country

Saudi Arabia dominates exports structure, finishing at X tons, which was near 82% of total exports in 2022. Kuwait (X tons) ranks second in terms of the total exports with a 9.6% share, followed by the United Arab Emirates (8.2%).

Saudi Arabia was also the fastest-growing in terms of the ethylene-vinyl acetate copolymers in primary forms exports, with a CAGR of +43.1% from 2012 to 2022. At the same time, Kuwait (+31.0%) and the United Arab Emirates (+12.7%) displayed positive paces of growth. Saudi Arabia (+40 p.p.) significantly strengthened its position in terms of the total exports, while Kuwait and the United Arab Emirates saw its share reduced by -2.2% and -37.3% from 2012 to 2022, respectively.

In value terms, Saudi Arabia ($X) remains the largest ethylene-vinyl acetate copolymers supplier in GCC, comprising 89% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 8.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia stood at +49.4%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+17.7% per year) and Kuwait (+25.0% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, shrinking by -2.6% against the previous year. Over the last decade, it increased at an average annual rate of +4.4%. The pace of growth was the most pronounced in 2017 an increase of 25% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2021, and then contracted slightly in the following year.

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 Saudi Arabia ($X per ton), while Kuwait ($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 (+4.5%), while the other leaders experienced mixed trends in the export price figures.

Ethylene-Vinyl Acetate Copolymers Imports

Imports in GCC

After three years of growth, purchases abroad of ethylene-vinyl acetate copolymers in primary forms decreased by -75% to X tons in 2022. In general, imports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 53% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, ethylene-vinyl acetate copolymers imports shrank dramatically to $X in 2022. Over the period under review, imports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2014 when imports increased by 47%. The level of import peaked at $X in 2021, and then reduced remarkably in the following year.

Imports by Country

The United Arab Emirates represented the key importer of ethylene-vinyl acetate copolymers in primary forms in GCC, with the volume of imports reaching X tons, which was near 77% of total imports in 2022. It was distantly followed by Qatar (X tons) and Oman (X tons), together constituting a 21% share of total imports. Kuwait (X tons) took a little share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the ethylene-vinyl acetate copolymers in primary forms imports, with a CAGR of +14.8% from 2012 to 2022. At the same time, Oman (+6.2%) and Qatar (+2.9%) displayed positive paces of growth. By contrast, Kuwait (-6.9%) illustrated a downward trend over the same period. The United Arab Emirates (+66 p.p.), Oman (+7.1 p.p.) and Qatar (+6.9 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported ethylene-vinyl acetate copolymers in primary forms in GCC, comprising 74% of total imports. The second position in the ranking was held by Qatar ($X), with a 14% share of total imports. It was followed by Oman, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to +12.3%. In the other countries, the average annual rates were as follows: Qatar (+3.8% per year) and Oman (+7.5% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, increasing by 6.5% against the previous year. Over the period under review, the import price, however, continues to indicate a slight setback. The pace of growth was the most pronounced in 2021 an increase of 31%. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Qatar ($X per ton) and Kuwait ($X per ton), while the United Arab Emirates ($X per ton) and Oman ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+1.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform