GCC: Polycarbonate Market 2024

Polycarbonate Market Size in GCC

The GCC polycarbonate market reduced rapidly to $X in 2022, with a decrease of -16.6% against the previous year. Over the period under review, consumption, however, enjoyed buoyant growth. As a result, consumption reached the peak level of $X, and then declined dramatically in the following year.

Polycarbonate Production in GCC

In value terms, polycarbonate production reduced to $X in 2022 estimated in export price. The total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.7% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 42% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Polycarbonate Exports

Exports in GCC

In 2022, after two years of decline, there was significant growth in overseas shipments of polycarbonates (in primary forms), when their volume increased by 7% to X tons. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 34%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, polycarbonate exports expanded rapidly to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 36% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia prevails in exports structure, accounting for X tons, which was near 96% of total exports in 2022. The United Arab Emirates (X tons) took a minor share of total exports.

Saudi Arabia experienced a relatively flat trend pattern with regard to volume of exports of polycarbonates (in primary forms). At the same time, the United Arab Emirates (+13.2%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of +13.2% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates increased by +2.6 percentage points.

In value terms, Saudi Arabia ($X) remains the largest polycarbonate supplier in GCC, comprising 97% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 2.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia was relatively modest.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, with an increase of 6% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-0.8%).

Polycarbonate Imports

Imports in GCC

In 2022, approx. X tons of polycarbonates (in primary forms) were imported in GCC; surging by 8.8% compared with the previous year's figure. Total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -7.5% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 40% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, polycarbonate imports contracted to $X in 2022. Total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 +49.0% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 43% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then reduced in the following year.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) were the major importers of polycarbonates (in primary forms) in 2022, recording approx. 50% and 37% of total imports, respectively. It was distantly followed by Oman (X tons), committing a 10% share of total imports. Qatar (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 leading importing countries, was attained by the United Arab Emirates (with a CAGR of +8.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 96% share of total imports. Qatar lagged somewhat behind, comprising a further 3.7%.

In terms of the main importing countries, Qatar, with a CAGR of +8.9%, recorded the highest rates of growth with regard to 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, declining by -18.5% against the previous year. Overall, the import price showed a slight downturn. The most prominent rate of growth was recorded in 2021 when the import price increased by 55% against the previous year. As a result, import price reached the peak level of $X per ton, and then declined markedly in the following year.

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 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 (+2.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform