Libya: Plastic Support Market 2024

Plastic Support Market Size in Libya

The Libyan plastic support market was estimated at $X in 2022, stabilizing at the previous year. Overall, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.8% against 2020 indices. Plastic support consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Plastic Support Production in Libya

In value terms, plastic support production expanded slightly to $X in 2022 estimated in export price. Overall, production posted a pronounced expansion. The most prominent rate of growth was recorded in 2018 with an increase of 34% against the previous year. Plastic support production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Plastic Support Exports

Exports from Libya

In 2022, after two years of growth, there was significant decline in overseas shipments of spools, cops and similar supports of plastics, when their volume decreased by -73.8% to X kg. Overall, exports faced a precipitous slump. The pace of growth appeared the most rapid in 2021 when exports increased by 267% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic support exports fell markedly to $X in 2022. In general, exports showed a sharp downturn. The most prominent rate of growth was recorded in 2021 with an increase of 374% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China (X kg) was the main destination for plastic support exports from Libya, with a 77% share of total exports. Moreover, plastic support exports to China exceeded the volume sent to the second major destination, Turkey (X kg), fivefold.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +37.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-52.6% per year) and Bulgaria (0.0% per year).

In value terms, China ($X), Bulgaria ($X) and Turkey ($X) constituted the largest markets for plastic support exported from Libya worldwide.

China, with a CAGR of +15.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average plastic support export price amounted to $X per ton, with a decrease of -22% against the previous year. Overall, the export price, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 52%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then declined significantly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+10.5%).

Plastic Support Imports

Imports into Libya

In 2022, imports of spools, cops and similar supports of plastics into Libya fell to X tons, shrinking by -14% compared with 2021 figures. Over the period under review, imports saw a abrupt downturn. The pace of growth appeared the most rapid in 2019 when imports increased by 77%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic support imports declined dramatically to $X in 2022. Overall, imports saw a perceptible decrease. The pace of growth appeared the most rapid in 2021 when imports increased by 69%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of plastic support to Libya, with a 57% share of total imports. Moreover, plastic support imports from Turkey exceeded the figures recorded by the second-largest supplier, Egypt (X tons), threefold. China (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey totaled +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (-14.7% per year) and China (+2.2% per year).

In value terms, Turkey ($X), Egypt ($X) and China ($X) constituted the largest plastic support suppliers to Libya, with a combined 82% share of total imports. Luxembourg, Saudi Arabia, Spain, Austria and Switzerland lagged somewhat behind, together accounting for a further 15%.

Among the main suppliers, Spain, with a CAGR of +22.4%, recorded the highest rates of growth with regard to 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 plastic support import price stood at $X per ton in 2022, waning by -7.4% against the previous year. In general, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic support import price increased by +28.8% against 2019 indices. The pace of growth appeared the most rapid in 2016 an increase of 28% against the previous year. The import price peaked at $X per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :