Libya: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in Libya

The Libyan market for polyethylene with a specific gravity of less than X, in primary forms rose to $X in 2021, surging by 2.9% against the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Polyethylene with a Specific Gravity of Less than X, in Primary Forms in Libya

In value terms, production of polyethylene with a specific gravity of less than X, in primary forms reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2018 when the production volume increased by 17%. Production of peaked at $X in 2020, and then reduced modestly in the following year.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports from Libya

For the ninth year in a row, Libya recorded decline in shipments abroad of polyethylene with a specific gravity of less than X, in primary forms, which decreased by -20% to X tons in 2021. In general, exports faced a dramatic contraction. The smallest decline of -20% was in 2019. Over the period under review, the exports of attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms contracted markedly to $X in 2021. Over the period under review, exports saw a significant contraction. Over the period under review, the exports of reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons) was the main destination for exports of polyethylene with a specific gravity of less than X, in primary forms from Libya, accounting for a 89% share of total exports. Moreover, exports of polyethylene with a specific gravity of less than X, in primary forms to Turkey exceeded the volume sent to the second major destination, Russia (X tons), ninefold.

From 2012 to 2021, the average annual growth rate of volume to Turkey totaled -32.2%.

In value terms, Turkey ($X) remains the key foreign market for polyethylene with a specific gravity of less than X, in primary forms exports from Libya, comprising 86% of total exports. The second position in the ranking was held by Russia ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Turkey stood at -26.8%.

Export Prices by Country

The average export price for polyethylene with a specific gravity of less than X, in primary forms stood at $X per ton in 2021, picking up by 4.6% against the previous year. In general, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for polyethylene with a specific gravity of less than X, in primary forms increased by +101.6% against 2012 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 40%. Over the period under review, the average export prices attained the maximum in 2021 and is likely to see gradual growth in years to come.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Turkey stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+8.0%).

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports into Libya

In 2021, approx. X tons of polyethylene with a specific gravity of less than X, in primary forms were imported into Libya; jumping by 70% compared with 2020. Overall, imports enjoyed a perceptible increase. The pace of growth was the most pronounced in 2017 when imports increased by 855%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms surged to $X in 2021. In general, imports continue to indicate pronounced growth. The most prominent rate of growth was recorded in 2017 when imports increased by 780%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

Qatar (X tons), Saudi Arabia (X tons) and Egypt (X tons) were the main suppliers of imports of polyethylene with a specific gravity of less than X, in primary forms to Libya, with a combined 85% share of total imports. Turkey, Thailand and the United Arab Emirates lagged somewhat behind, together comprising a further 9%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +21.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X), Saudi Arabia ($X) and Egypt ($X) appeared to be the largest polyethylene with a specific gravity of less than X suppliers to Libya, together comprising 77% of total imports. These countries were followed by Turkey, Thailand and the United Arab Emirates, which together accounted for a further 13%.

Turkey, with a CAGR of +26.8%, saw the highest rates of growth with regard to 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 import price for polyethylene with a specific gravity of less than X, in primary forms amounted to $X per ton, jumping by 49% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs 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 United Arab Emirates ($X per ton), while the price for Qatar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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