GCC: Market for Plastic Plates, Sheets, Film, Foil And Strip 2024

Market Size for Plastic Plates, Sheets, Film, Foil And Strip in GCC

In 2021, after three years of growth, there was significant decline in the GCC market for plastic plates, sheets, film, foil and strip, when its value decreased by -5.5% to $X. The market value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Production of Plastic Plates, Sheets, Film, Foil And Strip in GCC

In value terms, production of plastic plates, sheets, film, foil and strip reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the production volume increased by 31%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Plastic Plates, Sheets, Film, Foil And Strip

Exports in GCC

In 2021, exports of plastic plates, sheets, film, foil and strip in GCC rose sharply to X tons, with an increase of 12% on 2020. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +21.7% against 2019 indices. The pace of growth appeared the most rapid in 2016 when exports increased by 28% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, exports of plastic plates, sheets, film, foil and strip soared to $X in 2021. The total export value increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Oman (X tons) and Saudi Arabia (X tons) represented roughly 74% of total exports in 2021. The United Arab Emirates (X tons) took the next position in the ranking, followed by Bahrain (X tons). All these countries together took approx. 26% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Oman (with a CAGR of +19.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest plastic plate, sheet, film, foil and strip supplying countries in GCC were Saudi Arabia ($X), Oman ($X) and the United Arab Emirates ($X), with a combined 88% share of total exports.

In terms of the main exporting countries, Oman, with a CAGR of +14.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, rising by 17% against the previous year. In general, the export price, however, recorded a slight shrinkage. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and Bahrain ($X per ton), while Oman ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+0.9%), while the other leaders experienced a decline in the export price figures.

Imports of Plastic Plates, Sheets, Film, Foil And Strip

Imports in GCC

After four years of growth, overseas purchases of plastic plates, sheets, film, foil and strip decreased by -5.9% to X tons in 2021. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of 14% against the previous year. The volume of import peaked at X tons in 2020, and then dropped in the following year.

In value terms, imports of plastic plates, sheets, film, foil and strip surged to $X in 2021. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons) was the largest importer of plastic plates, sheets, film, foil and strip, comprising 47% of total imports. Saudi Arabia (X tons) held a 29% share (based on physical terms) of total imports, which put it in second place, followed by Oman (8.3%) and Kuwait (7.8%). Qatar (X tons) and Bahrain (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Kuwait (with a CAGR of +8.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic plate, sheet, film, foil and strip importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X), with a combined 85% share of total imports.

In terms of the main importing countries, Kuwait, with a CAGR of +7.9%, saw the highest growth rate of 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 27% against the previous year. Over the period under review, the import price continues to indicate a modest expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Qatar ($X per ton) and the United Arab Emirates ($X per ton), while Oman ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform