GCC: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in GCC

The GCC plastic reservoir market expanded notably to $X in 2022, increasing by 11% against the previous year. The market value increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is likely to see gradual growth in years to come.

Plastic Reservoir Production in GCC

In value terms, plastic reservoir production totaled $X in 2022 estimated in export price. Overall, production posted a strong expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 298% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Plastic Reservoir Exports

Exports in GCC

Plastic reservoir exports rose modestly to X tons in 2022, growing by 3% against the previous year. In general, exports posted prominent growth. The pace of growth was the most pronounced in 2014 when exports increased by 288%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, plastic reservoir exports soared to $X in 2022. Overall, exports saw a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of 123%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

In 2022, Bahrain (X tons) was the main exporter of plastic reservoirs, tanks and vats, creating 72% of total exports. It was distantly followed by Saudi Arabia (X tons) and the United Arab Emirates (X tons), together achieving a 24% share of total exports. Oman (X tons) followed a long way behind the leaders.

Bahrain was also the fastest-growing in terms of the plastic reservoirs, tanks and vats exports, with a CAGR of +77.4% from 2012 to 2022. At the same time, Saudi Arabia (+10.7%) displayed positive paces of growth. By contrast, the United Arab Emirates (-6.6%) and Oman (-11.1%) illustrated a downward trend over the same period. While the share of Bahrain (+71 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Oman (-23.8 p.p.) and the United Arab Emirates (-43.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bahrain ($X) emerged as the largest plastic reservoir supplier in GCC, comprising 60% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 27% share of total exports. It was followed by Saudi Arabia, with a 9.9% share.

In Bahrain, plastic reservoir exports expanded at an average annual rate of +90.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+7.6% per year) and Saudi Arabia (+12.7% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, with an increase of 21% against the previous year. Overall, the export price enjoyed prominent growth. The pace of growth appeared the most rapid in 2016 an increase of 43%. The level of export peaked in 2022 and is expected to retain growth in years to come.

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 the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+15.2%), while the other leaders experienced more modest paces of growth.

Plastic Reservoir Imports

Imports in GCC

Plastic reservoir imports contracted to X tons in 2022, with a decrease of -5.4% against 2021 figures. Total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -12.2% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 33%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, plastic reservoir imports contracted to $X in 2022. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 35%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the main importers of plastic reservoirs, tanks and vats in GCC, together comprising 68% of total imports. Qatar (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Oman (8.3%), Kuwait (6.7%) and Bahrain (4.8%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Qatar (with a CAGR of +10.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Qatar ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 80% share of total imports.

In terms of the main importing countries, Qatar, with a CAGR of +6.3%, recorded 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 2022, remaining constant against the previous year. In general, the import price, however, continues to indicate a mild decline. The most prominent rate of growth was recorded in 2017 an increase of 16% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Kuwait ($X per ton), while Oman ($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 (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform