GCC: Market for Pure Polyvinyl Chloride in Primary Forms 2024

Market Size for Pure Polyvinyl Chloride in Primary Forms in GCC

In 2022, the GCC market for pure polyvinyl chloride in primary forms decreased by -6.1% to $X for the first time since 2018, thus ending a three-year rising trend. The market value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, the market attained the maximum level at $X in 2021, and then dropped in the following year.

Production of Pure Polyvinyl Chloride in Primary Forms in GCC

In value terms, production of pure polyvinyl chloride in primary forms contracted slightly to $X in 2022 estimated in export price. The total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.3% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 40% against the previous year. Over the period under review, production of reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Pure Polyvinyl Chloride in Primary Forms

Exports in GCC

In 2022, exports of pure polyvinyl chloride in primary forms in GCC shrank slightly to X tons, which is down by -3.3% against 2021. Overall, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2016 when exports increased by 184% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, exports of pure polyvinyl chloride in primary forms reduced sharply to $X in 2022. In general, exports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2016 when exports increased by 172% against the previous year. The level of export peaked at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

Saudi Arabia dominates forms structure, finishing at X tons, which was approx. 91% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), creating an 8.1% share of total exports.

Exports from Saudi Arabia increased at an average annual rate of +6.9% from 2012 to 2022. At the same time, the United Arab Emirates (+7.2%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of +7.2% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest pure polyvinyl chloride in primary forms supplier in GCC, comprising 92% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.4% share of total exports.

In Saudi Arabia, exports of pure polyvinyl chloride in primary forms expanded at an average annual rate of +8.1% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, falling by -17.4% against the previous year. Over the period under review, the export price, however, recorded a slight increase. The pace of growth appeared the most rapid in 2021 an increase of 59%. As a result, the export price attained the peak level of $X per ton, and then contracted dramatically in the following year.

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 amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.1%).

Imports of Pure Polyvinyl Chloride in Primary Forms

Imports in GCC

In 2022, the amount of pure polyvinyl chloride in primary forms imported in GCC reduced modestly to X tons, with a decrease of -2.6% on the year before. The total import volume increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by 23%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of pure polyvinyl chloride in primary forms dropped markedly to $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +33.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 58% against the previous year. As a result, imports reached the peak of $X, and then fell dramatically in the following year.

Imports by Country

The United Arab Emirates represented the key importing country with an import of about X tons, which recorded 54% of total imports. Saudi Arabia (X tons) took the second position in the ranking, followed by Kuwait (X tons), Oman (X tons), Qatar (X tons) and Bahrain (X tons). All these countries together held approx. 46% share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +4.4% from 2012 to 2022. At the same time, Qatar (+17.6%), Oman (+6.2%) and Kuwait (+3.1%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +17.6% from 2012-2022. Bahrain experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-3.5%) illustrated a downward trend over the same period. The United Arab Emirates (+8.3 p.p.), Qatar (+5 p.p.) and Oman (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while Bahrain and Saudi Arabia saw its share reduced by -2.3% and -13.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported pure polyvinyl chloride in primary forms in GCC, comprising 52% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 16% share of total imports. It was followed by Qatar, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at +6.6%. In the other countries, the average annual rates were as follows: Saudi Arabia (-2.6% per year) and Qatar (+21.5% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, dropping by -13.4% against the previous year. Import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for pure polyvinyl chloride in primary forms increased by +38.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when the import price increased by 59% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahrain ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform