Libya: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in Libya

After two years of growth, the Libyan polyethylene in primary forms market decreased by -0.9% to $X in 2021. In general, consumption faced a deep contraction. The most prominent rate of growth was recorded in 2020 when the market value increased by 5% against the previous year. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Polyethylene in Primary Forms in Libya

In value terms, polyethylene in primary forms production dropped slightly to $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2015 when the production volume increased by 11%. Polyethylene in primary forms production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Polyethylene in Primary Forms

Exports from Libya

In 2021, the amount of polyethylene in primary forms exported from Libya expanded remarkably to X tons, with an increase of 8% on the previous year's figure. Over the period under review, total exports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +75.8% against 2013 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene in primary forms exports declined markedly to $X in 2021. In general, exports, however, faced a deep downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X tons) was the main destination for polyethylene in primary forms exports from Libya, accounting for a 88% share of total exports. Moreover, polyethylene in primary forms exports to Turkey exceeded the volume sent to the second major destination, Russia (X tons), tenfold.

From 2012 to 2021, the average annual growth rate of volume to Turkey stood at +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+17.2% per year) and Tunisia (+6.1% per year).

In value terms, Turkey ($X) remains the key foreign market for polyethylene in primary forms exports from Libya, comprising 86% of total exports. The second position in the ranking was taken by Russia ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey amounted to -19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-8.5% per year) and Tunisia (-26.9% per year).

Export Prices by Country

The average polyethylene in primary forms export price stood at $X per ton in 2021, shrinking by -23.3% against the previous year. Over the period under review, the export price recorded a precipitous slump. The pace of growth was the most pronounced in 2013 when the average export price decreased by -19.3% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Tunisia ($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 Turkey (-21.8%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene in Primary Forms

Imports into Libya

In 2021, approx. X tons of polyethylene in primary forms were imported into Libya; jumping by 29% compared with the previous year. In general, total imports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +38.1% against 2018 indices. The growth pace was the most rapid in 2013 when imports increased by 55%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, polyethylene in primary forms imports soared to $X in 2021. Overall, imports recorded a slight expansion. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Qatar (X tons), Saudi Arabia (X tons) and Turkey (X tons) were the main suppliers of polyethylene in primary forms imports to Libya, with a combined 74% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +40.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Turkey ($X) and Egypt ($X) constituted the largest polyethylene in primary forms suppliers to Libya, with a combined 68% share of total imports.

Turkey, with a CAGR of +42.8%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average polyethylene in primary forms import price amounted to $X per ton, picking up by 55% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 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 Egypt ($X per ton), while the price for Qatar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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