Greece: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in Greece

The Greek polyethylene in primary forms market was finally on the rise to reach $X in 2021, after four years of decline. The market value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Polyethylene in Primary Forms in Greece

In value terms, polyethylene in primary forms production reduced markedly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate notable growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 371%. As a result, production reached the peak level of $X, and then plummeted in the following year.

Exports of Polyethylene in Primary Forms

Exports from Greece

In 2021, after two years of decline, there was significant growth in overseas shipments of polyethylene in primary forms, when their volume increased by 54% to X tons. Overall, exports, however, recorded a perceptible reduction. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, polyethylene in primary forms exports surged to $X in 2021. In general, exports, however, showed a noticeable decline. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons) was the main destination for polyethylene in primary forms exports from Greece, accounting for a 37% share of total exports. Moreover, polyethylene in primary forms exports to Romania exceeded the volume sent to the second major destination, Bulgaria (X tons), twofold. The third position in this ranking was taken by Germany (X tons), with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Romania was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (-7.0% per year) and Germany (+6.3% per year).

In value terms, the largest markets for polyethylene in primary forms exported from Greece were Romania ($X), Bulgaria ($X) and Germany ($X), together comprising 64% of total exports. Italy, Albania, North Macedonia, Hungary, China, the Netherlands, Cyprus, Turkey and Poland lagged somewhat behind, together comprising a further 28%.

Hungary, with a CAGR of +48.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average polyethylene in primary forms export price stood at $X per ton in 2021, jumping by 20% against the previous year. In general, the export price, however, showed a mild decline. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+5.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Polyethylene in Primary Forms

Imports into Greece

In 2021, purchases abroad of polyethylene in primary forms increased by 0.8% to X tons, rising for the third year in a row after two years of decline. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by 14% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, polyethylene in primary forms imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Spain (X tons) and Belgium (X tons) were the main suppliers of polyethylene in primary forms imports to Greece, together accounting for 32% of total imports. Saudi Arabia, Bulgaria, Turkey, South Korea, the United States, Germany, Qatar, Austria, the Netherlands and Hungary lagged somewhat behind, together comprising a further 47%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +79.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Spain ($X) and Belgium ($X) were the largest polyethylene in primary forms suppliers to Greece, with a combined 34% share of total imports. Saudi Arabia, Turkey, South Korea, Bulgaria, Germany, the Netherlands, the United States, Qatar, Hungary and Austria lagged somewhat behind, together comprising a further 45%.

In terms of the main suppliers, the United States, with a CAGR of +67.7%, 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

The average polyethylene in primary forms import price stood at $X per ton in 2021, increasing by 49% against the previous year. In general, the import price showed a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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