GCC: Plastic Household Articles Market 2024

Plastic Household Articles Market Size in GCC

The GCC plastic household articles market shrank to $X in 2022, waning by -8.8% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +62.6% against 2018 indices. The level of consumption peaked at $X in 2021, and then contracted in the following year.

Plastic Household Articles Production in GCC

In value terms, plastic household articles production declined to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a temperate increase. The growth pace was the most rapid in 2019 when the production volume increased by 125%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Plastic Household Articles Exports

Exports in GCC

In 2022, after two years of growth, there was significant decline in overseas shipments of household articles and toilet articles of plastics, when their volume decreased by -10.8% to X tons. Overall, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2021 when exports increased by 45%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, plastic household articles exports contracted to $X in 2022. Over the period under review, exports continue to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 47% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates was the key exporting country with an export of about X tons, which resulted at 62% of total exports. It was distantly followed by Saudi Arabia (X tons), Oman (X tons), Kuwait (X tons) and Bahrain (X tons), together achieving a 38% share of total exports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of household articles and toilet articles of plastics. At the same time, Kuwait (+19.1%), Oman (+12.9%) and Bahrain (+8.4%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +19.1% from 2012-2022. By contrast, Saudi Arabia (-14.2%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+25 p.p.), Kuwait (+4.7 p.p.), Oman (+4.6 p.p.) and Bahrain (+3.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (-37.3 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest plastic household articles supplier in GCC, comprising 68% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 16% share of total exports. It was followed by Kuwait, with a 5.8% share.

In the United Arab Emirates, plastic household articles exports expanded at an average annual rate of +3.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (-14.0% per year) and Kuwait (+27.3% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, reducing by -4.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. The pace of growth appeared the most rapid in 2017 an increase of 12% against the previous year. The level of export peaked at $X per ton in 2021, and then fell 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 Bahrain ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+6.9%), while the other leaders experienced more modest paces of growth.

Plastic Household Articles Imports

Imports in GCC

After three years of growth, supplies from abroad of household articles and toilet articles of plastics decreased by -9.8% to X tons in 2022. Total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.4% against 2018 indices. The pace of growth was the most pronounced in 2019 with an increase of 30% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, plastic household articles imports fell to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.0% against 2018 indices. The growth pace was the most rapid in 2014 with an increase of 34%. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank in the following year.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) prevails in imports structure, together achieving 81% of total imports. Kuwait (X tons) took the next position in the ranking, followed by Oman (X tons). All these countries together took approx. 12% share of total imports. The following importers - Qatar (X tons) and Bahrain (X tons) - each resulted at an 8% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Saudi Arabia (with a CAGR of +9.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic household articles importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X), with a combined 89% share of total imports. Qatar, Oman and Bahrain lagged somewhat behind, together comprising a further 11%.

Qatar, with a CAGR of +9.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2014 when the import price increased by 15%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

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 Kuwait (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform