GCC: Plastic Packaging Market 2024

Plastic Packaging Market Size in GCC

The GCC plastic packaging market reached $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Plastic Packaging Production in GCC

In value terms, plastic packaging production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Plastic Packaging Exports

Exports in GCC

In 2022, plastic packaging exports in GCC fell modestly to X tons, therefore, remained relatively stable against the previous year's figure. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2014 with an increase of X%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic packaging exports dropped to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) prevails in exports structure, together mixing up X% of total exports. Oman (X tons) and Bahrain (X tons) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Saudi Arabia, with a CAGR of X%, saw 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 2022, the export price in GCC amounted to $X per ton, approximately mirroring the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and Oman ($X per ton), while Saudi Arabia ($X per ton) and Bahrain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the export price figures.

Plastic Packaging Imports

Imports in GCC

In 2022, overseas purchases of plastic packaging decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, plastic packaging imports declined markedly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by X%. The level of import peaked at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

In 2022, Saudi Arabia (X tons), the United Arab Emirates (X tons) and Oman (X tons) represented the major importer of plastic packaging in GCC, comprising X% of total import. It was distantly followed by Kuwait (X tons), Bahrain (X tons) and Qatar (X tons), together committing a X% share of total imports.

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

In value terms, the largest plastic packaging importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), together accounting for X% of total imports. Oman, Qatar and Bahrain lagged somewhat behind, together accounting for a further X%.

Oman, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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, shrinking by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per ton), while Oman ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform