GCC: Plastic Supports Market 2024

Plastic Supports Market Size in GCC

The GCC plastic supports market shrank to $X in 2022, waning by -2.9% against the previous year. In general, consumption, however, continues to indicate resilient growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Plastic Supports Production in GCC

In value terms, plastic supports production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 68%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Plastic Supports Exports

Exports in GCC

In 2022, overseas shipments of spools, cops, bobbins and similar supports of plastics were finally on the rise to reach X tons after two years of decline. In general, exports showed a tangible increase. The growth pace was the most rapid in 2019 when exports increased by 52%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, plastic supports exports rose modestly to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 54% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates was the largest exporting country with an export of about X tons, which amounted to 76% of total exports. It was distantly followed by Saudi Arabia (X tons), committing a 22% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plastic supports exports from the United Arab Emirates stood at +1.9%. At the same time, Saudi Arabia (+6.3%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +6.3% from 2012-2022. Saudi Arabia (+6.3 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -7.2% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest plastic supports supplier in GCC, comprising 86% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates was relatively modest.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, falling by -2.8% against the previous year. Over the period under review, the export price saw a pronounced reduction. The most prominent rate of growth was recorded in 2013 an increase of 16% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

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 Saudi Arabia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-1.5%).

Plastic Supports Imports

Imports in GCC

In 2022, plastic supports imports in GCC dropped dramatically to X tons, declining by -15.1% against the year before. In general, imports, however, saw notable growth. The most prominent rate of growth was recorded in 2021 when imports increased by 78%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, plastic supports imports shrank to $X in 2022. Over the period under review, imports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2019 with an increase of 105% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the largest importer of spools, cops, bobbins and similar supports of plastics in GCC, with the volume of imports reaching X tons, which was approx. 69% of total imports in 2022. It was distantly followed by Oman (X tons), Qatar (X tons), Kuwait (X tons) and Bahrain (X tons), together mixing up a 31% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to plastic supports imports into the United Arab Emirates stood at +14.8%. At the same time, Kuwait (+32.5%) and Qatar (+23.3%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +32.5% from 2012-2022. By contrast, Oman (-1.7%) and Bahrain (-2.3%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+45 p.p.), Qatar (+7 p.p.) and Kuwait (+5.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Bahrain (-3.6 p.p.) and Oman (-7.5 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported spools, cops, bobbins and similar supports of plastics in GCC, comprising 69% of total imports. The second position in the ranking was held by Oman ($X), with a 10% share of total imports. It was followed by Kuwait, with a 9.4% share.

In the United Arab Emirates, plastic supports imports expanded at an average annual rate of +16.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (+1.7% per year) and Kuwait (+29.1% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with an increase of 15% against the previous year. Import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic supports import price decreased by -21.5% against 2020 indices. The pace of growth was the most pronounced in 2019 when the import price increased by 39%. Over the period under review, import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Qatar ($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 (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform