GCC: Plastic Support Market 2024

Plastic Support Market Size in GCC

The GCC plastic support market expanded to $X in 2022, surging by 1.9% against the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Plastic Support Production in GCC

In value terms, plastic support production expanded slightly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 21%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Plastic Support Exports

Exports in GCC

In 2022, after two years of decline, there was growth in overseas shipments of spools, cops and similar supports of plastics, when their volume increased by 0.2% to X tons. The total export volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 with an increase of 31%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic support exports totaled $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 20% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) dominates exports structure, together generating 85% of total exports. It was distantly followed by Bahrain (X tons), committing a 9.8% share of total exports. The following exporters - Kuwait (X tons) and Oman (X tons) - together made up 5.6% of total exports.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +20.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic support supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Bahrain ($X), with a combined 96% share of total exports. Kuwait and Oman lagged somewhat behind, together accounting for a further 4%.

Among the main exporting countries, Kuwait, with a CAGR of +19.6%, recorded the highest rates of growth with regard to 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, flattening at the previous year. Overall, the export price, however, recorded a pronounced curtailment. The pace of growth was the most pronounced in 2020 when the export price increased by 19% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (-0.6%), while the other leaders experienced a decline in the export price figures.

Plastic Support Imports

Imports in GCC

In 2022, overseas purchases of spools, cops and similar supports of plastics increased by 2.1% to X tons for the first time since 2019, thus ending a two-year declining trend. Total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 17%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, plastic support imports shrank to $X in 2022. The total import value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 18%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) represented roughly 75% of total imports in 2022. Oman (X tons) took the next position in the ranking, followed by Qatar (X tons) and Kuwait (X tons). All these countries together took near 22% share of total imports. Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Oman (with a CAGR of +9.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic support importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), together comprising 85% of total imports. Qatar, Kuwait and Bahrain lagged somewhat behind, together comprising a further 15%.

Among the main importing countries, Qatar, with a CAGR of +8.7%, saw the highest growth rate of the value of imports, 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, declining by -2.7% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 7.8% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+2.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform