GCC: Market for Plastics Pipes And Pipe Fittings 2024

Market Size for Plastics Pipes And Pipe Fittings in GCC

The GCC market for plastics pipes and pipe fittings expanded modestly to $X in 2022, growing by 2.1% against the previous year. In general, consumption, however, saw a mild contraction. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Plastics Pipes And Pipe Fittings in GCC

In value terms, plastics pipe and pipe fitting production rose sharply to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a slight curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 62%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Plastics Pipes And Pipe Fittings

Exports in GCC

After two years of growth, overseas shipments of plastics pipes and pipe fittings decreased by -0.1% to X tons in 2022. Total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.4% 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 +21.9% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 43% against the previous year. The volume of export peaked at X tons in 2021, and then shrank in the following year.

In value terms, plastics pipe and pipe fitting exports shrank modestly to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -13.7% against 2018 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 63%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Bahrain (X tons), the United Arab Emirates (X tons), Saudi Arabia (X tons) and Oman (X tons) represented the key exporter of plastics pipes and pipe fittings in GCC, making up 98% of total export. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +12.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest plastics pipe and pipe fitting supplying countries in GCC were the United Arab Emirates ($X), Bahrain ($X) and Saudi Arabia ($X), together comprising 82% of total exports. Oman and Kuwait lagged somewhat behind, together comprising a further 18%.

Oman, with a CAGR of +9.4%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, reducing by -2% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 52%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices remained at a lower figure.

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 ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.7%), while the other leaders experienced more modest paces of growth.

Imports of Plastics Pipes And Pipe Fittings

Imports in GCC

In 2022, plastics pipe and pipe fitting imports in GCC declined slightly to X tons, reducing by -4% compared with 2021 figures. The total import volume increased at an average annual rate of +2.4% 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 2015 with an increase of 23%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, plastics pipe and pipe fitting imports dropped slightly to $X in 2022. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by 13%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) was the main importer of plastics pipes and pipe fittings, making up 48% of total imports. The United Arab Emirates (X tons) took a 25% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (8.1%), Qatar (7.9%) and Oman (7.5%). Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Saudi Arabia (with a CAGR of +5.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) constituted the countries with the highest levels of imports in 2022, together comprising 82% of total imports.

The United Arab Emirates, with a CAGR of +4.5%, recorded the highest growth rate of 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, remaining stable against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 18%. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform