GCC: Plastic Bag Market 2024

Plastic Bag Market Size in GCC

The GCC plastic bag market rose sharply to $X in 2022, with an increase of 8% against the previous year. The market value increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Plastic Bag Production in GCC

In value terms, plastic bag production rose rapidly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 53% against the previous year. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Plastic Bag Exports

Exports in GCC

In 2022, exports of plastic sacks and bags in GCC reduced to X tons, waning by -11.9% on 2021 figures. Total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.8% against 2018 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 39% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, plastic bag exports reduced to $X in 2022. In general, exports, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 41% against the previous year. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) prevails in exports structure, together achieving 91% of total exports. It was distantly followed by Oman (X tons), achieving a 5% share of total exports. Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +17.7%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest plastic bag supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), with a combined 97% share of total exports.

Saudi Arabia, with a CAGR of +19.5%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, reducing by -2.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2021 when the export price increased by 10% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 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 Oman ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+4.1%), while the other leaders experienced more modest paces of growth.

Plastic Bag Imports

Imports in GCC

After three years of growth, purchases abroad of plastic sacks and bags decreased by -7.1% to X tons in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +27.1% against 2018 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 19%. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, plastic bag imports dropped to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +25.7% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 21%. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the key importers of plastic sacks and bags in 2022, reaching near 35% and 35% of total imports, respectively. Oman (X tons) ranks next in terms of the total imports with a 12% share, followed by Kuwait (11%). The following importers - Qatar (X tons) and Bahrain (X tons) - together made up 7.1% of total imports.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +12.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X) were the countries with the highest levels of imports in 2022, together comprising 81% of total imports.

Among the main importing countries, Kuwait, with a CAGR of +11.6%, recorded 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 2022, approximately reflecting the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2018 when the import price increased by 16% against the previous year. The level of import peaked at $X per ton in 2021, and then shrank modestly in the following year.

Prices varied noticeably by country of destination: 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 (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform