GCC: Market for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) 2025

Market Size for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in GCC

In 2021, the GCC polystyrene in primary forms market increased by 22% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Production of Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in GCC

In value terms, polystyrene in primary forms production rose markedly to $X in 2021 estimated in export price. Over the period under review, production recorded a mild contraction. The most prominent rate of growth was recorded in 2014 with an increase of 57%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Exports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Exports in GCC

For the third consecutive year, GCC recorded growth in shipments abroad of polystyrene in primary forms (excluding expansible polystyrene), which increased by 0.9% to X tons in 2021. Total exports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +38.5% against 2018 indices. The pace of growth was the most pronounced in 2014 with an increase of 47% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, polystyrene in primary forms exports surged to $X in 2021. Total exports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.9% 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 +46.4% against 2019 indices. The growth pace was the most rapid in 2014 when exports increased by 52%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Saudi Arabia was the major exporter of polystyrene in primary forms (excluding expansible polystyrene) in GCC, with the volume of exports resulting at X tons, which was approx. 74% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), committing a 25% share of total exports.

Saudi Arabia experienced a relatively flat trend pattern with regard to volume of exports of polystyrene in primary forms (excluding expansible polystyrene). At the same time, the United Arab Emirates (+61.5%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of +61.5% from 2012-2021. The United Arab Emirates (+25 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -24.8% from 2012 to 2021, respectively.

In value terms, Saudi Arabia ($X) remains the largest polystyrene in primary forms supplier in GCC, comprising 77% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia stood at +1.0%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, increasing by 42% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+0.0%).

Imports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Imports in GCC

In 2021, approx. X tons of polystyrene in primary forms (excluding expansible polystyrene) were imported in GCC; increasing by 13% on the previous year. The total import volume increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 29% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, polystyrene in primary forms imports skyrocketed to $X in 2021. Total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +86.8% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates was the main importer of polystyrene in primary forms (excluding expansible polystyrene) in GCC, with the volume of imports amounting to X tons, which was approx. 60% of total imports in 2021. Kuwait (X tons) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (13%). Oman (X tons), Bahrain (X tons) and Saudi Arabia (X tons) held a little share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +8.0% from 2012 to 2021. At the same time, Qatar (+33.4%), Oman (+2.8%) and Bahrain (+2.5%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +33.4% from 2012-2021. By contrast, Saudi Arabia (-4.0%) and Kuwait (-4.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates and Qatar increased by +15 and +11 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported polystyrene in primary forms (excluding expansible polystyrene) in GCC, comprising 59% of total imports. The second position in the ranking was taken by Kuwait ($X), with an 18% share of total imports. It was followed by Qatar, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates totaled +7.8%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (-4.1% per year) and Qatar (+28.1% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, picking up by 53% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Qatar ($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 (+4.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform