GCC: Market for Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride 2024

Market Size for Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride in GCC

The GCC market for rigid tubes, pipes and hoses of polymers of vinyl chloride declined slightly to $X in 2022, almost unchanged from the previous year. Over the period under review, consumption, however, recorded a noticeable slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride in GCC

In value terms, vinyl chloride polymer rigid pipes production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, showed a noticeable setback. The most prominent rate of growth was recorded in 2019 with an increase of 49%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride

Exports in GCC

In 2022, overseas shipments of rigid tubes, pipes and hoses of polymers of vinyl chloride decreased by -3.6% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 57%. As a result, the exports reached the peak of X tons, and then dropped slightly in the following year.

In value terms, vinyl chloride polymer rigid pipes exports stood at $X in 2022. Over the period under review, exports, however, posted a perceptible increase. The pace of growth appeared the most rapid in 2021 when exports increased by 67%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

Bahrain represented the largest exporter of rigid tubes, pipes and hoses of polymers of vinyl chloride in GCC, with the volume of exports finishing at X tons, which was near 75% of total exports in 2022. It was distantly followed by Oman (X tons), the United Arab Emirates (X tons) and Saudi Arabia (X tons), together generating a 24% share of total exports.

Exports from Bahrain increased at an average annual rate of +6.5% from 2012 to 2022. At the same time, Oman (+33.1%) and Saudi Arabia (+14.3%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +33.1% from 2012-2022. By contrast, the United Arab Emirates (-6.3%) illustrated a downward trend over the same period. Oman (+11 p.p.), Bahrain (+2.8 p.p.) and Saudi Arabia (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -17.2% from 2012 to 2022, respectively.

In value terms, Bahrain ($X) remains the largest vinyl chloride polymer rigid pipes supplier in GCC, comprising 77% of total exports. The second position in the ranking was held by Oman ($X), with a 9.6% share of total exports. It was followed by the United Arab Emirates, with an 8.1% share.

In Bahrain, vinyl chloride polymer rigid pipes exports expanded at an average annual rate of +5.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+29.2% per year) and the United Arab Emirates (-6.6% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, rising by 8.2% against the previous year. Over the period under review, the export price, however, saw a slight decline. The pace of growth appeared the most rapid in 2014 an increase of 14%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and Bahrain ($X per ton), while Oman ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.4%), while the other leaders experienced a decline in the export price figures.

Imports of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride

Imports in GCC

In 2022, the amount of rigid tubes, pipes and hoses of polymers of vinyl chloride imported in GCC reduced to X tons, waning by -9.4% on the previous year. The total import volume increased at an average annual rate of +1.4% 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 2021 with an increase of 25%. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, vinyl chloride polymer rigid pipes imports contracted to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 38% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

Saudi Arabia represented the key importer of rigid tubes, pipes and hoses of polymers of vinyl chloride in GCC, with the volume of imports resulting at X tons, which was near 60% of total imports in 2022. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Qatar (X tons), Kuwait (X tons) and Bahrain (X tons). All these countries together held near 36% share of total imports. Oman (X tons) followed a long way behind the leaders.

Imports into Saudi Arabia increased at an average annual rate of +4.6% from 2012 to 2022. At the same time, Oman (+7.0%), the United Arab Emirates (+4.6%) and Kuwait (+1.5%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +7.0% from 2012-2022. By contrast, Bahrain (-6.7%) and Qatar (-10.2%) illustrated a downward trend over the same period. Saudi Arabia (+16 p.p.) and the United Arab Emirates (+5 p.p.) significantly strengthened its position in terms of the total imports, while Bahrain and Qatar saw its share reduced by -6.2% and -16.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported rigid tubes, pipes and hoses of polymers of vinyl chloride in GCC, comprising 52% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 21% share of total imports. It was followed by Qatar, with an 8.9% share.

In Saudi Arabia, vinyl chloride polymer rigid pipes imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+4.2% per year) and Qatar (-8.0% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with a decrease of -1.8% against the previous year. In general, the import price recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2021 an increase of 9.9% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Kuwait ($X per ton), while Saudi Arabia ($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 (+2.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform