GCC: Market for Plastic Hoses and Hose Fittings 2024

Market Size for Plastic Hoses and Hose Fittings in GCC

In 2021, after three years of growth, there was significant decline in the GCC market for plastic hoses and hose fittings, when its value decreased by -20.8% to $X. The total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2020, and then declined notably in the following year.

Production of Plastic Hoses and Hose Fittings in GCC

In value terms, plastic hose and hose fitting production reduced slightly to $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +79.1% against 2017 indices. The growth pace was the most rapid in 2018 with an increase of 60% against the previous year. The level of production peaked at $X in 2020, and then reduced slightly in the following year.

Exports of Plastic Hoses and Hose Fittings

Exports in GCC

In 2021, after two years of decline, there was significant growth in overseas shipments of plastic hoses and hose fittings, when their volume increased by 75% to X tons. Over the period under review, exports, however, recorded a noticeable slump. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, plastic hose and hose fitting exports surged to $X in 2021. Total exports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia was the main exporter of plastic hoses and hose fittings in GCC, with the volume of exports reaching X tons, which was approx. 53% of total exports in 2021. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Bahrain (X tons). All these countries together held approx. 43% share of total exports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Bahrain (with a CAGR of +25.8%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest plastic hose and hose fitting supplying countries in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Bahrain ($X), together accounting for 97% of total exports.

Among the main exporting countries, Bahrain, with a CAGR of +19.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, increasing by 7.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.8%. The pace of growth was the most pronounced in 2013 an increase of 14%. The level of export peaked in 2021 and is likely to continue growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Plastic Hoses and Hose Fittings

Imports in GCC

In 2021, overseas purchases of plastic hoses and hose fittings decreased by -27.5% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports continue to indicate a pronounced slump. The pace of growth was the most pronounced in 2014 with an increase of 14%. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, plastic hose and hose fitting imports shrank to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 15%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) were the major importers of plastic hoses and hose fittings in 2021, accounting for near 41% and 30% of total imports, respectively. It was distantly followed by Kuwait (X tons), Oman (X tons) and Qatar (X tons), together comprising a 26% share of total imports. Bahrain (X tons) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the United Arab Emirates (with a CAGR of -0.3%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X) constituted the countries with the highest levels of imports in 2021, together comprising 85% of total imports.

Among the main importing countries, the United Arab Emirates, with a CAGR of +5.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, growing by 36% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Qatar (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform