GCC: Polyacetals Market 2024

Polyacetals Market Size in GCC

In 2021, the GCC polyacetals market decreased by -8.7% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, continues to indicate a strong increase. The level of consumption peaked at $X in 2020, and then fell in the following year.

Polyacetals Production in GCC

In value terms, polyacetals production shrank to $X in 2021 estimated in export price. Overall, production, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 126% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then contracted in the following year.

Polyacetals Exports

Exports in GCC

In 2021, overseas shipments of polyacetals in primary forms increased by 3.6% to X tons, rising for the fifth year in a row after four years of decline. Overall, exports enjoyed a resilient increase. The growth pace was the most rapid in 2017 when exports increased by 2,339%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, polyacetals exports surged to $X in 2021. In general, exports showed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 2,017% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Saudi Arabia prevails in exports structure, amounting to X tons, which was near 93% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), achieving a 4.5% share of total exports. Oman (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to polyacetals exports from Saudi Arabia stood at +26.0%. At the same time, Oman (+57.4%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +57.4% from 2012-2021. By contrast, the United Arab Emirates (-8.7%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+41 p.p.) and Oman (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-41.6 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest polyacetals supplier in GCC, comprising 94% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 4% share of total exports.

In Saudi Arabia, polyacetals exports expanded at an average annual rate of +33.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (-2.9% per year) and Oman (+41.5% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, surging by 17% against the previous year. Export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, polyacetals export price increased by +74.1% against 2017 indices. The pace of growth was the most pronounced in 2015 when the export price increased by 25%. Over the period under review, the export prices attained the peak figure in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.3%), while the other leaders experienced mixed trends in the export price figures.

Polyacetals Imports

Imports in GCC

In 2021, the amount of polyacetals in primary forms imported in GCC dropped notably to X tons, which is down by -20.1% on 2020 figures. Over the period under review, imports, however, posted strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 1,476%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, polyacetals imports surged to $X in 2021. In general, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 1,281% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates prevails in imports structure, resulting at X tons, which was near 94% of total imports in 2021. It was distantly followed by Oman (X tons), making up a 5.1% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the polyacetals in primary forms imports, with a CAGR of +35.2% from 2012 to 2021. At the same time, Oman (+1.9%) displayed positive paces of growth. The United Arab Emirates (+79 p.p.) significantly strengthened its position in terms of the total imports, while Oman saw its share reduced by -5.6% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported polyacetals in primary forms in GCC, comprising 97% of total imports. The second position in the ranking was taken by Oman ($X), with a 2.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at +39.2%.

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, with an increase of 49% against the previous year. Over the period under review, the import price continues to indicate prominent growth. The growth pace was the most rapid in 2019 when the import price increased by 128% against the previous year. The level of import peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.0%).

Source: IndexBox Platform