MENA: Polyacetals Market 2024

Polyacetals Market Size in MENA

The MENA's polyacetals market expanded rapidly to $X in 2021, surging by 11% against the previous year. The market value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Polyacetals Production in MENA

In value terms, polyacetals production fell to $X in 2021 estimated in export price. The total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +87.3% against 2015 indices. The growth pace was the most rapid in 2017 when the production volume increased by 44%. Over the period under review, production reached the maximum level at $X in 2020, and then declined in the following year.

Polyacetals Exports

Exports in MENA

For the sixth consecutive year, MENA recorded growth in overseas shipments of polyacetals in primary forms, which increased by 2.3% to X tons in 2021. Overall, exports enjoyed buoyant growth. The pace of growth was the most pronounced in 2017 when exports increased by 462%. The volume of export peaked in 2021 and is likely to continue growth in years to come.

In value terms, polyacetals exports surged to $X in 2021. In general, exports showed significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 305%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Saudi Arabia represented the key exporter of polyacetals in primary forms in MENA, with the volume of exports accounting for X tons, which was approx. 77% of total exports in 2021. It was distantly followed by Israel (X tons), generating a 12% share of total exports. Turkey (X tons), the United Arab Emirates (X tons) and Oman (X tons) followed a long way behind the leaders.

Exports from Saudi Arabia increased at an average annual rate of +26.0% from 2012 to 2021. At the same time, Oman (+57.4%), Israel (+14.7%) and Turkey (+11.8%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of +57.4% from 2012-2021. By contrast, the United Arab Emirates (-8.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Saudi Arabia and Oman increased by +38 and +2.1 percentage points, respectively.

In value terms, Saudi Arabia ($X) remains the largest polyacetals supplier in MENA, comprising 74% of total exports. The second position in the ranking was taken by Israel ($X), with a 15% share of total exports. It was followed by Turkey, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Saudi Arabia stood at +33.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (+18.8% per year) and Turkey (+17.3% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, surging by 22% against the previous year. Export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, polyacetals export price increased by +74.6% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Oman ($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 (+6.3%), while the other leaders experienced more modest paces of growth.

Polyacetals Imports

Imports in MENA

In 2021, the amount of polyacetals in primary forms imported in MENA expanded slightly to X tons, increasing by 2.7% compared with the previous year's figure. Total imports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -11.6% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 46%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, polyacetals imports skyrocketed to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey represented the key importer of polyacetals in primary forms in MENA, with the volume of imports recording X tons, which was near 59% of total imports in 2021. Israel (X tons) ranks second in terms of the total imports with a 21% share, followed by the United Arab Emirates (6.2%) and Egypt (5.6%). Iran (X tons) and Tunisia (X tons) held a minor share of total imports.

Imports into Turkey increased at an average annual rate of +6.7% from 2012 to 2021. At the same time, the United Arab Emirates (+35.2%), Egypt (+11.1%), Israel (+6.3%) and Tunisia (+5.9%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +35.2% from 2012-2021. By contrast, Iran (-14.9%) illustrated a downward trend over the same period. Turkey (+13 p.p.), the United Arab Emirates (+5.6 p.p.), Israel (+3.9 p.p.) and Egypt (+2.6 p.p.) significantly strengthened its position in terms of the total imports, while Iran saw its share reduced by -13% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported polyacetals in primary forms in MENA, comprising 56% of total imports. The second position in the ranking was held by Israel ($X), with a 22% share of total imports. It was followed by the United Arab Emirates, with a 7.1% share.

In Turkey, polyacetals imports expanded at an average annual rate of +8.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Israel (+6.8% per year) and the United Arab Emirates (+39.2% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, rising by 36% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform