GCC: Market for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms 2024

Market Size for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in GCC

The GCC market for polyethylene terephthalate and other polyethylene terephthalate in primary forms declined to $X in 2022, with a decrease of -7.4% against the previous year. Over the period under review, consumption showed a pronounced slump. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Production of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in GCC

In value terms, production of polyethylene terephthalate and other polyethylene terephthalate in primary forms reduced to $X in 2022 estimated in export price. In general, production recorded a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 14%. Over the period under review, production of hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Exports in GCC

After two years of decline, overseas shipments of polyethylene terephthalate and other polyethylene terephthalate in primary forms increased by 114% to X tons in 2022. Over the period under review, exports, however, showed a sharp downturn. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms soared to $X in 2022. Overall, exports, however, continue to indicate a sharp shrinkage. Over the period under review, the exports of reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Oman represented the main exporting country with an export of around X tons, which reached 78% of total exports. It was distantly followed by the United Arab Emirates (X tons), comprising a 20% share of total exports. Saudi Arabia (X tons) took a minor share of total exports.

Oman was also the fastest-growing in terms of the polyethylene terephthalate and other polyethylene terephthalate in primary forms exports, with a CAGR of -11.3% from 2012 to 2022. The United Arab Emirates (-28.3%) and Saudi Arabia (-36.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Oman increased by +52 percentage points.

In value terms, Oman ($X) remains the largest polyethylene terephthalate and other polyethylene terephthalate in primary forms supplier in GCC, comprising 84% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 12% share of total exports.

In Oman, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms shrank by an average annual rate of -14.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-36.1% per year) and Saudi Arabia (-35.5% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, rising by 4.1% against the previous year. Over the period under review, the export price, however, showed a deep downturn. The pace of growth appeared the most rapid in 2017 an increase of 23% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, 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 Saudi Arabia ($X per ton), while the United Arab Emirates ($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 (+2.2%), while the other leaders experienced a decline in the export price figures.

Imports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Imports in GCC

In 2022, purchases abroad of polyethylene terephthalate and other polyethylene terephthalate in primary forms was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 82% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms skyrocketed to $X in 2022. In general, imports, however, saw a abrupt decline. The growth pace was the most rapid in 2019 when imports increased by 54% against the previous year. Over the period under review, imports of hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) was the key importer of polyethylene terephthalate and other polyethylene terephthalate in primary forms, generating 79% of total imports. It was distantly followed by the United Arab Emirates (X tons), comprising an 18% share of total imports.

Saudi Arabia was also the fastest-growing in terms of the polyethylene terephthalate and other polyethylene terephthalate in primary forms imports, with a CAGR of -5.2% from 2012 to 2022. The United Arab Emirates (-20.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia increased by +42 percentage points.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported polyethylene terephthalate and other polyethylene terephthalate in primary forms in GCC, comprising 80% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 17% share of total imports.

In Saudi Arabia, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms contracted by an average annual rate of -10.0% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price saw a deep setback. The most prominent rate of growth was recorded in 2018 when the import price increased by 22%. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, 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 (-5.1%).

Source: IndexBox Platform