GCC: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in GCC

In 2021, the GCC market for polyethylene with a specific gravity of less than X, in primary forms decreased by -46.1% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Polyethylene with a Specific Gravity of Less than X, in Primary Forms in GCC

In value terms, production of polyethylene with a specific gravity of less than X, in primary forms rose rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 29% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports in GCC

In 2021, the amount of polyethylene with a specific gravity of less than X, in primary forms exported in GCC reduced to X tons, approximately reflecting the previous year's figure. Total exports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +37.8% against 2014 indices. The growth pace was the most rapid in 2013 with an increase of 75%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms surged to $X in 2021. Overall, exports, however, showed a modest increase. The most prominent rate of growth was recorded in 2013 when exports increased by 85%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

In 2021, Saudi Arabia (X tons) represented the largest exporter of polyethylene with a specific gravity of less than X, in primary forms, committing 82% of total exports. It was distantly followed by the United Arab Emirates (X tons), making up a 16% share of total exports. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to polyethylene with a specific gravity of less than X exports from Saudi Arabia stood at +2.5%. At the same time, the United Arab Emirates (+12.6%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of +12.6% from 2012-2021. By contrast, Kuwait (-9.3%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+8.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Kuwait (-4.3 p.p.) and Saudi Arabia (-4.6 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest polyethylene with a specific gravity of less than X supplier in GCC, comprising 80% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+13.9% per year) and Kuwait (-12.8% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, jumping by 48% against the previous year. Over the period under review, the export price, however, showed a mild reduction. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($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 (+1.2%), while the other leaders experienced a decline in the export price figures.

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports in GCC

Imports of polyethylene with a specific gravity of less than X, in primary forms soared to X tons in 2021, increasing by 23% against 2020 figures. Overall, imports showed prominent growth. The pace of growth was the most pronounced in 2013 when imports increased by 71% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms surged to $X in 2021. Over the period under review, imports saw a pronounced increase. Over the period under review, imports of attained the peak figure at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the major importing country with an import of around X tons, which finished at 73% of total imports. Saudi Arabia (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Oman (8%). The following importers - Kuwait (X tons) and Bahrain (X tons) - together made up 4.3% of total imports.

The United Arab Emirates was also the fastest-growing in terms of the polyethylene with a specific gravity of less than X, in primary forms imports, with a CAGR of +11.5% from 2012 to 2021. At the same time, Oman (+3.7%) displayed positive paces of growth. Kuwait experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-3.5%) and Bahrain (-4.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates increased by +28 percentage points.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported polyethylene with a specific gravity of less than X, in primary forms in GCC, comprising 68% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with an 18% share of total imports. It was followed by Oman, with a 7.8% share.

In the United Arab Emirates, imports of polyethylene with a specific gravity of less than X, in primary forms increased at an average annual rate of +10.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (-3.7% per year) and Oman (+2.7% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, jumping by 37% against the previous year. Over the period under review, the import price, however, continues to indicate a slight shrinkage. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Saudi Arabia ($X per ton) and Kuwait ($X per ton), while the United Arab Emirates ($X per ton) and Bahrain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform