MENA: Expansible Polystyrene Market 2024

Expansible Polystyrene Market Size in MENA

In 2021, the MENA's expansible polystyrene market decreased by -5.4% to $X, falling for the third consecutive year after three years of growth. In general, consumption saw a pronounced decline. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Expansible Polystyrene Production in MENA

In value terms, expansible polystyrene production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 24%. The level of production peaked at $X in 2019; afterwards, it flattened through to 2021.

Expansible Polystyrene Exports

Exports in MENA

In 2021, exports of expansible polystyrene in primary forms in MENA soared to X tons, surging by 51% on the previous year. Over the period under review, exports enjoyed a significant increase. The growth pace was the most rapid in 2013 when exports increased by 151% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, expansible polystyrene exports surged to $X in 2021. In general, exports posted a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 191%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Turkey was the major exporter of expansible polystyrene in primary forms in MENA, with the volume of exports accounting for X tons, which was approx. 82% of total exports in 2021. Saudi Arabia (X tons) took an 11% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (6.1%).

From 2012 to 2021, average annual rates of growth with regard to expansible polystyrene exports from Turkey stood at +19.4%. At the same time, the United Arab Emirates (+37.9%) and Saudi Arabia (+26.8%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +37.9% from 2012-2021. The United Arab Emirates (+4.3 p.p.) and Saudi Arabia (+4.1 p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by -7.3% from 2012 to 2021, respectively.

In value terms, Turkey ($X) remains the largest expansible polystyrene supplier in MENA, comprising 84% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 9.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey amounted to +21.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+26.6% per year) and the United Arab Emirates (+39.2% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, with an increase of 81% against the previous year. Over the period under review, the export price recorded a modest expansion. The level of export peaked at $X per ton in 2013; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Saudi Arabia ($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 (+1.6%), while the other leaders experienced mixed trends in the export price figures.

Expansible Polystyrene Imports

Imports in MENA

In 2021, expansible polystyrene imports in MENA fell to X tons, reducing by -11.6% against 2020 figures. In general, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 18% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, expansible polystyrene imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a abrupt descent. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Egypt (X tons), Turkey (X tons), Saudi Arabia (X tons), Israel (X tons), Algeria (X tons) and Morocco (X tons) represented the largest importer of expansible polystyrene in primary forms in MENA, comprising 79% of total import. The United Arab Emirates (X tons), Kuwait (X tons), Jordan (X tons), Syrian Arab Republic (X tons), Qatar (X tons), Tunisia (X tons) and Iraq (X tons) held a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +18.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest expansible polystyrene importing markets in MENA were Egypt ($X), Turkey ($X) and Saudi Arabia ($X), together comprising 53% of total imports.

Saudi Arabia, with a CAGR of +17.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, surging by 56% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Israel ($X per ton) and Egypt ($X per ton), while Syrian Arab Republic ($X per ton) and Tunisia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+1.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform