GCC: Plastic Box Market 2024

Plastic Box Market Size in GCC

The GCC plastic box market contracted to $X in 2022, falling by -5.6% against the previous year. Overall, consumption recorded a pronounced slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Plastic Box Production in GCC

In value terms, plastic box production shrank slightly to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 68% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Plastic Box Exports

Exports in GCC

In 2022, plastic box exports in GCC reduced to X tons, with a decrease of -14.8% compared with the previous year. Over the period under review, exports saw a perceptible setback. The most prominent rate of growth was recorded in 2021 with an increase of 33%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic box exports contracted to $X in 2022. In general, exports continue to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2021 with an increase of 38%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Saudi Arabia (X tons) represented the key exporter of plastic boxes, cases, crates and similar packing articles, creating 59% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 30% share, followed by Bahrain (5.5%) and Oman (4.8%).

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +2.7%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Bahrain ($X) were the countries with the highest levels of exports in 2022, together accounting for 95% of total exports.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of +7.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, remaining constant against the previous year. Over the period under review, the export price, however, continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2021 an increase of 3.9%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, 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 the United Arab Emirates (+7.5%), while the other leaders experienced a decline in the export price figures.

Plastic Box Imports

Imports in GCC

In 2022, plastic box imports in GCC shrank rapidly to X tons, with a decrease of -23.8% against 2021. Overall, imports showed a perceptible setback. The growth pace was the most rapid in 2013 when imports increased by 25% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, plastic box imports contracted rapidly to $X in 2022. Over the period under review, imports showed a perceptible decrease. The growth pace was the most rapid in 2021 when imports increased by 25%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the major importer of plastic boxes, cases, crates and similar packing articles, making up 51% of total imports. It was distantly followed by Kuwait (X tons), Oman (X tons), Qatar (X tons) and Bahrain (X tons), together making up a 49% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to plastic box imports into the United Arab Emirates stood at -1.2%. At the same time, Oman (+7.4%) and Qatar (+1.3%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +7.4% from 2012-2022. By contrast, Bahrain (-2.7%) and Kuwait (-3.9%) illustrated a downward trend over the same period. The United Arab Emirates (+12 p.p.), Oman (+11 p.p.) and Qatar (+3.2 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 ($X) constitutes the largest market for imported plastic boxes, cases, crates and similar packing articles in GCC, comprising 61% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 17% share of total imports. It was followed by Oman, with a 9.7% share.

In the United Arab Emirates, plastic box imports expanded at an average annual rate of +1.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kuwait (-2.3% per year) and Oman (+2.0% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, falling by -5.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2021 an increase of 17%. As a result, import price reached the peak level of $X per ton, and then fell 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 (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform