MENA: Fluoropolymers Market 2024

Fluoropolymers Market Size in MENA

The MENA's fluoropolymers market rose slightly to $X in 2021, with an increase of 2.8% against the previous year. 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 in certain years. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in years to come.

Fluoropolymers Production in MENA

In value terms, fluoropolymers production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 36%. The level of production peaked at $X in 2020, and then contracted modestly in the following year.

Fluoropolymers Exports

Exports in MENA

In 2021, overseas shipments of fluoropolymers decreased by -45.3% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2013 when exports increased by 139%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, fluoropolymers exports declined dramatically to $X in 2021. In general, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 151% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia represented the major exporter of fluoropolymers in MENA, with the volume of exports recording X tons, which was near 64% of total exports in 2021. Turkey (X tons) ranks second in terms of the total exports with a 24% share, followed by Kuwait (5.1%). The following exporters - Lebanon (X tons) and the United Arab Emirates (X tons) - each reached a 4.4% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to fluoropolymers exports from Saudi Arabia stood at +16.9%. At the same time, Lebanon (+35.4%), Kuwait (+23.9%) and Turkey (+17.9%) displayed positive paces of growth. Moreover, Lebanon emerged as the fastest-growing exporter exported in MENA, with a CAGR of +35.4% from 2012-2021. By contrast, the United Arab Emirates (-19.6%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+27 p.p.), Turkey (+11 p.p.), Kuwait (+3.4 p.p.) and Lebanon (+2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-30.9 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest fluoropolymers supplier in MENA, comprising 70% of total exports. The second position in the ranking was taken by Turkey ($X), with an 18% share of total exports. It was followed by Kuwait, with a 4.9% share.

In Saudi Arabia, fluoropolymers exports increased at an average annual rate of +14.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+15.3% per year) and Kuwait (+20.1% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, with an increase of 3.9% against the previous year. Over the period under review, the export price, however, recorded a slight setback. The growth pace was the most rapid in 2016 when the export price increased by 9.9%. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($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 (-2.0%), while the other leaders experienced a decline in the export price figures.

Fluoropolymers Imports

Imports in MENA

In 2021, purchases abroad of fluoropolymers increased by 3.9% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, imports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 when imports increased by 58% 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, fluoropolymers imports soared to $X in 2021. The total import value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 27% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

Turkey was the major importing country with an import of around X tons, which amounted to 57% of total imports. Iran (X tons) ranks second in terms of the total imports with a 13% share, followed by Saudi Arabia (11%). The following importers - the United Arab Emirates (X tons), Israel (X tons), Yemen (X tons) and Tunisia (X tons) - together made up 12% of total imports.

From 2012 to 2021, average annual rates of growth with regard to fluoropolymers imports into Turkey stood at +10.8%. At the same time, Tunisia (+32.7%), the United Arab Emirates (+4.5%), Israel (+4.2%), Iran (+2.9%) and Saudi Arabia (+1.4%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing importer imported in MENA, with a CAGR of +32.7% from 2012-2021. By contrast, Yemen (-37.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey, Iran, Saudi Arabia, the United Arab Emirates, Israel and Tunisia increased by +47, +8.6, +7, +2.9, +2.7 and +1.6 percentage points, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported fluoropolymers in MENA, comprising 64% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 9.9% share of total imports. It was followed by Iran, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey amounted to +7.4%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (+3.0% per year) and Iran (-1.8% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, growing by 21% against the previous year. Overall, the import price saw a remarkable increase. The pace of growth was the most pronounced in 2016 an increase of 39% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Yemen (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform