GCC: Polyamide Market 2024

Polyamide Market Size in GCC

The GCC polyamide market surged to $X in 2021, increasing by 21% against the previous year. The total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +55.8% against 2015 indices. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Polyamide Production in GCC

In value terms, polyamide production rose to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by 111%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Polyamide Exports

Exports in GCC

In 2021, shipments abroad of polyamides (in primary forms) decreased by -1% to X tons, falling for the fifth consecutive year after three years of growth. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 553% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, polyamide exports surged to $X in 2021. In general, exports, however, enjoyed a measured expansion. The pace of growth was the most pronounced in 2016 when exports increased by 1,328% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates was the major exporter of polyamides (in primary forms) in GCC, with the volume of exports accounting for X tons, which was near 69% of total exports in 2021. It was distantly followed by Saudi Arabia (X tons), comprising a 29% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the polyamides (in primary forms) exports, with a CAGR of +9.3% from 2012 to 2021. Saudi Arabia (-9.5%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+39 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-39.6 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest polyamide supplier in GCC, comprising 87% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at +10.2%.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, growing by 29% against the previous year. Overall, the export price recorded a noticeable expansion. The most prominent rate of growth was recorded in 2016 an increase of 119%. Over the period under review, the export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, 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 the United Arab Emirates ($X per ton), while Saudi Arabia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.8%).

Polyamide Imports

Imports in GCC

In 2021, approx. X tons of polyamides (in primary forms) were imported in GCC; with an increase of 22% on the previous year's figure. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +72.9% against 2018 indices. The most prominent rate of growth was recorded in 2020 with an increase of 37% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, polyamide imports skyrocketed to $X in 2021. In general, imports saw a resilient increase. The pace of growth was the most pronounced in 2020 when imports increased by 61%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

The United Arab Emirates was the major importer of polyamides (in primary forms) in GCC, with the volume of imports reaching X tons, which was approx. 61% of total imports in 2021. It was distantly followed by Saudi Arabia (X tons), constituting a 34% share of total imports. Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +14.7%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest polyamide importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Bahrain ($X), together comprising 97% of total imports.

The United Arab Emirates, with a CAGR of +14.0%, 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

The import price in GCC stood at $X per ton in 2021, picking up by 15% against the previous year. Over the last nine years, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2020 an increase of 18% against the previous year. Over the period under review, import prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+6.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform