GCC: Market for High-Tenacity Filament Yarn Of Polyesters 2024

Market Size for High-Tenacity Filament Yarn Of Polyesters in GCC

In 2021, after three years of growth, there was significant decline in the GCC high-tenacity filament polyester yarn market, when its value decreased by -9.9% to $X. Over the period under review, consumption, however, enjoyed a prominent increase. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Production of High-Tenacity Filament Yarn Of Polyesters in GCC

In value terms, high-tenacity filament polyester yarn production reduced to $X in 2021 estimated in export price. The total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -16.8% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 64%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of High-Tenacity Filament Yarn Of Polyesters

Exports in GCC

In 2021, overseas shipments of high-tenacity filament yarn of polyesters increased by 39% to X tons, rising for the third year in a row after five years of decline. Overall, exports, however, showed a precipitous setback. The growth pace was the most rapid in 2013 with an increase of 105% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, high-tenacity filament polyester yarn exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a precipitous descent. The pace of growth appeared the most rapid in 2013 when exports increased by 66%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Saudi Arabia was the major exporting country with an export of around X tons, which reached 83% of total exports. It was distantly followed by the United Arab Emirates (X tons), mixing up a 15% share of total exports.

Exports from Saudi Arabia decreased at an average annual rate of -24.4% from 2012 to 2021. The United Arab Emirates (-10.6%) illustrated a downward trend over the same period. The United Arab Emirates (+11 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -12.4% from 2012 to 2021, respectively.

In value terms, the largest high-tenacity filament polyester yarn supplying countries in GCC were Saudi Arabia ($X) and the United Arab Emirates ($X).

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of -1.3%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, surging by 2.6% against the previous year. In general, the export price, however, recorded a pronounced shrinkage. The growth pace was the most rapid in 2018 when the export price increased by 59%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.4%).

Imports of High-Tenacity Filament Yarn Of Polyesters

Imports in GCC

In 2021, after four years of growth, there was significant decline in supplies from abroad of high-tenacity filament yarn of polyesters, when their volume decreased by -11% to X tons. In general, imports, however, showed significant growth. The pace of growth appeared the most rapid in 2019 when imports increased by 230%. The volume of import peaked at X tons in 2020, and then dropped in the following year.

In value terms, high-tenacity filament polyester yarn imports rose markedly to $X in 2021. Overall, imports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by 164%. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Imports by Country

In 2021, the United Arab Emirates (X tons) represented the key importer of high-tenacity filament yarn of polyesters, committing 68% of total imports. It was distantly followed by Saudi Arabia (X tons), mixing up a 31% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the high-tenacity filament yarn of polyesters imports, with a CAGR of +28.4% from 2012 to 2021. At the same time, Saudi Arabia (+15.7%) displayed positive paces of growth. From 2012 to 2021, the share of the United Arab Emirates increased by +27 percentage points.

In value terms, the largest high-tenacity filament polyester yarn importing markets in GCC were the United Arab Emirates ($X) and Saudi Arabia ($X).

The United Arab Emirates, with a CAGR of +15.6%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review.

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, surging by 20% against the previous year. In general, the import price, however, faced a drastic downturn. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-8.2%).

Source: IndexBox Platform