GCC: Market for Plastic Shutters And Blinds 2024

Market Size for Plastic Shutters And Blinds in GCC

The GCC plastic shutters and blinds market contracted to $X in 2022, shrinking by -8.3% against the previous year. The total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -14.5% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Plastic Shutters And Blinds in GCC

In value terms, plastic shutters and blinds production declined to $X in 2022 estimated in export price. In general, production, however, saw a pronounced expansion. The pace of growth was the most pronounced in 2017 when the production volume increased by 98%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Plastic Shutters And Blinds

Exports in GCC

In 2022, exports of plastic shutters and blinds in GCC reduced markedly to X units, shrinking by -27.2% on the year before. In general, exports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2013 when exports increased by 237% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, plastic shutters and blinds exports reduced markedly to $X in 2022. Over the period under review, exports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2013 with an increase of 234%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates dominates exports structure, resulting at X units, which was near 81% of total exports in 2022. Oman (X units) ranks second in terms of the total exports with an 8.8% share, followed by Saudi Arabia (6.8%). Kuwait (X units) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plastic shutters and blinds exports from the United Arab Emirates stood at +7.3%. At the same time, Oman (+54.4%), Kuwait (+49.3%) and Saudi Arabia (+15.1%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +54.4% from 2012-2022. From 2012 to 2022, the share of Oman, Kuwait and Saudi Arabia increased by +8.5, +3.4 and +2.9 percentage points, respectively.

In value terms, the United Arab Emirates ($X) remains the largest plastic shutters and blinds supplier in GCC, comprising 88% of total exports. The second position in the ranking was taken by Oman ($X), with an 8.1% share of total exports. It was followed by Saudi Arabia, with a 2.4% share.

In the United Arab Emirates, plastic shutters and blinds exports increased at an average annual rate of +13.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+55.1% per year) and Saudi Arabia (+16.1% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, surging by 13% against the previous year. Export price indicated a perceptible expansion from 2012 to 2022: its price 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, plastic shutters and blinds export price increased by +80.6% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the export price increased by 35% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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 ($X per unit), while Saudi Arabia ($X per unit) 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 (+5.7%), while the other leaders experienced more modest paces of growth.

Imports of Plastic Shutters And Blinds

Imports in GCC

In 2022, approx. X units of plastic shutters and blinds were imported in GCC; falling by -8.5% on the year before. Over the period under review, imports, however, showed pronounced growth. The pace of growth appeared the most rapid in 2021 with an increase of 111%. The volume of import peaked at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, plastic shutters and blinds imports shrank to $X in 2022. Overall, imports showed a noticeable decrease. The growth pace was the most rapid in 2021 with an increase of 57%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

Qatar prevails in imports structure, amounting to X units, which was approx. 79% of total imports in 2022. The United Arab Emirates (X units) ranks second in terms of the total imports with a 10% share, followed by Oman (6.9%). Kuwait (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to plastic shutters and blinds imports into Qatar stood at +8.3%. At the same time, Kuwait (+11.2%) and Oman (+2.6%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +11.2% from 2012-2022. By contrast, the United Arab Emirates (-6.3%) illustrated a downward trend over the same period. While the share of Qatar (+22 p.p.) and Kuwait (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Oman (-1.7 p.p.) and the United Arab Emirates (-20.6 p.p.) displayed negative dynamics.

In value terms, the largest plastic shutters and blinds importing markets in GCC were Qatar ($X), the United Arab Emirates ($X) and Kuwait ($X), with a combined 87% share of total imports. These countries were followed by Oman, which accounted for a further 11%.

Oman, with a CAGR of +9.2%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 unit, remaining stable against the previous year. In general, the import price, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2018 an increase of 34% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 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 ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform