GCC: Market for Flexible Tubes, Pipes and Hoses of Plastics, with Fittings 2024

Market Size for Flexible Tubes, Pipes and Hoses of Plastics, with Fittings in GCC

The GCC market for flexible tubes, pipes and hoses of plastics, with fittings rose rapidly to $X in 2022, with an increase of 9.4% against the previous year. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 -2.3% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Flexible Tubes, Pipes and Hoses of Plastics, with Fittings in GCC

In value terms, production of flexible tubes, pipes and hoses of plastics, with fittings rose significantly to $X in 2022 estimated in export price. The total production indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 -5.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 38% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Flexible Tubes, Pipes and Hoses of Plastics, with Fittings

Exports in GCC

In 2022, exports of flexible tubes, pipes and hoses of plastics, with fittings in GCC declined significantly to X tons, falling by -26.1% compared with the previous year's figure. Overall, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2016 when exports increased by 70% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of flexible tubes, pipes and hoses of plastics, with fittings declined to $X in 2022. Over the period under review, exports faced a deep downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 121% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Oman represented the largest exporting country with an export of around X tons, which recorded 79% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 14% share, followed by Kuwait (6.1%).

Oman was also the fastest-growing in terms of the flexible tubes, pipes and hoses of plastics, with fittings exports, with a CAGR of +16.6% from 2012 to 2022. The United Arab Emirates (-11.0%) and Kuwait (-15.4%) illustrated a downward trend over the same period. While the share of Oman (+77 p.p.) and the United Arab Emirates (+6.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Oman ($X) remains the largest flexible tubes, pipes and hoses of plastics, with fittings supplier in GCC, comprising 71% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Oman stood at +20.7%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-2.1% per year) and Kuwait (-17.3% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, surging by 21% against the previous year. Overall, the export price showed a buoyant increase. The pace of growth was the most pronounced in 2018 an increase of 59%. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in years to come.

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 the United Arab Emirates ($X per ton), while Kuwait ($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 (+10.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Flexible Tubes, Pipes and Hoses of Plastics, with Fittings

Imports in GCC

In 2022, imports of flexible tubes, pipes and hoses of plastics, with fittings in GCC rose remarkably to X tons, surging by 13% against the previous year. In general, imports showed prominent growth. The growth pace was the most rapid in 2020 when imports increased by 159%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, imports of flexible tubes, pipes and hoses of plastics, with fittings rose to $X in 2022. Overall, imports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 133%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

In 2022, Saudi Arabia (X tons) was the main importer of flexible tubes, pipes and hoses of plastics, with fittings, comprising 74% of total imports. It was distantly followed by the United Arab Emirates (X tons) and Qatar (X tons), together constituting an 18% share of total imports. The following importers - Oman (X tons) and Kuwait (X tons) - each amounted to a 7.6% share of total imports.

Saudi Arabia was also the fastest-growing in terms of the flexible tubes, pipes and hoses of plastics, with fittings imports, with a CAGR of +24.6% from 2012 to 2022. At the same time, Qatar (+11.8%), Oman (+5.6%) and Kuwait (+1.0%) displayed positive paces of growth. The United Arab Emirates experienced a relatively flat trend pattern. Saudi Arabia (+46 p.p.) significantly strengthened its position in terms of the total imports, while Oman, Kuwait and the United Arab Emirates saw its share reduced by -3.7%, -7.7% and -27.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported flexible tubes, pipes and hoses of plastics, with fittings in GCC, comprising 57% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 20% share of total imports. It was followed by Qatar, with a 12% share.

In Saudi Arabia, imports of flexible tubes, pipes and hoses of plastics, with fittings expanded at an average annual rate of +20.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+5.2% per year) and Qatar (+14.4% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, with a decrease of -10% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 97% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform