MENA: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in MENA

In 2022, after seven years of growth, there was significant decline in the MENA's plastic reservoir market, when its value decreased by -17.7% to $X. In general, consumption, however, recorded resilient growth. As a result, consumption attained the peak level of $X, and then declined remarkably in the following year.

Plastic Reservoir Production in MENA

In value terms, plastic reservoir production dropped to $X in 2022 estimated in export price. Overall, production, however, posted a prominent increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 47%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Plastic Reservoir Exports

Exports in MENA

In 2022, overseas shipments of plastic reservoirs, tanks and vats increased by 1.9% to X tons, rising for the second consecutive year after five years of decline. In general, exports enjoyed a slight expansion. The growth pace was the most rapid in 2014 with an increase of 95% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, plastic reservoir exports rose markedly to $X in 2022. Total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +68.6% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 56% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Bahrain represented the largest exporter of plastic reservoirs, tanks and vats in MENA, with the volume of exports reaching X tons, which was near 44% of total exports in 2022. It was distantly followed by Turkey (X tons), Saudi Arabia (X tons), Tunisia (X tons) and the United Arab Emirates (X tons), together comprising a 46% share of total exports. Israel (X tons) and Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Bahrain (with a CAGR of +77.4%), while the other leaders experienced more modest paces of growth.

In value terms, Bahrain ($X), Turkey ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2022, with a combined 77% share of total exports.

In terms of the main exporting countries, Bahrain, with a CAGR of +90.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, growing by 6.3% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 22% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+15.2%), while the other leaders experienced more modest paces of growth.

Plastic Reservoir Imports

Imports in MENA

In 2022, approx. X tons of plastic reservoirs, tanks and vats were imported in MENA; leveling off at 2021 figures. The total import volume increased at an average annual rate of +4.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 34% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic reservoir imports rose slightly to $X in 2022. The total import value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 34%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Saudi Arabia (X tons) and the United Arab Emirates (X tons) represented the key importers of plastic reservoirs, tanks and vats in MENA, together mixing up 51% of total imports. Morocco (X tons) held the next position in the ranking, followed by Qatar (X tons), Oman (X tons) and Kuwait (X tons). All these countries together held near 30% share of total imports. Iraq (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +26.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic reservoir importing markets in MENA were Saudi Arabia ($X), the United Arab Emirates ($X) and Morocco ($X), with a combined 58% share of total imports.

Morocco, with a CAGR of +26.2%, saw the highest rates of growth with regard to the value of imports, among 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

The import price in MENA stood at $X per ton in 2022, picking up by 4.5% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by 16%. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (+3.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform