GCC: Ethylene Polymer Bag Market 2024

Ethylene Polymer Bag Market Size in GCC

The GCC ethylene polymer bag market declined rapidly to $X in 2022, shrinking by -64.9% against the previous year. In general, consumption showed a abrupt slump. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Ethylene Polymer Bag Production in GCC

In value terms, ethylene polymer bag production dropped notably to $X in 2022 estimated in export price. Overall, production saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 26% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Ethylene Polymer Bag Exports

Exports in GCC

Ethylene polymer bag exports fell significantly to X tons in 2022, shrinking by -24.9% compared with the previous year. Over the period under review, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2015 with an increase of 68% against the previous year. The volume of export peaked at X tons in 2021, and then fell markedly in the following year.

In value terms, ethylene polymer bag exports shrank rapidly to $X in 2022. Overall, exports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2015 when exports increased by 98%. The level of export peaked at $X in 2021, and then dropped rapidly in the following year.

Exports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) dominates exports structure, together achieving 93% of total exports. Oman (X tons) and Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +28.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Oman ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 98% share of total exports.

Among the main exporting countries, Oman, with a CAGR of +42.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, picking up by 5.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2015 an increase of 18% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, 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 Oman ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+10.9%), while the other leaders experienced more modest paces of growth.

Ethylene Polymer Bag Imports

Imports in GCC

In 2022, after three years of growth, there was significant decline in purchases abroad of sacks and bags of polymers of ethylene, when their volume decreased by -7.6% to X tons. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 +12.1% against 2018 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 30%. Over the period under review, imports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, ethylene polymer bag imports reduced to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +6.7% against 2017 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 35% against the previous year. The level of import peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the main importers of sacks and bags of polymers of ethylene in GCC, together resulting at approx. 66% of total imports. Kuwait (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Oman (12%). Bahrain (X tons) and Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +13.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X) were the countries with the highest levels of imports in 2022, together accounting for 82% of total imports.

Kuwait, with a CAGR of +12.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, remaining stable against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 11% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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 Qatar ($X per ton), while Oman ($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 (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform