MENA: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in MENA

In 2021, the MENA's market for polyethylene with a specific gravity of less than X, in primary forms decreased by -30.1% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Polyethylene with a Specific Gravity of Less than X, in Primary Forms in MENA

In value terms, production of polyethylene with a specific gravity of less than X, in primary forms rose sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 28% against the previous year. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports in MENA

In 2021, exports of polyethylene with a specific gravity of less than X, in primary forms in MENA expanded modestly to X tons, growing by 1.7% compared with the previous year. The total export volume increased at an average annual rate of +3.0% over the period 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 2013 with an increase of 57% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms surged to $X in 2021. Total exports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 66% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Saudi Arabia represented the major exporter of polyethylene with a specific gravity of less than X, in primary forms in MENA, with the volume of exports accounting for X tons, which was near 67% of total exports in 2021. Iran (X tons) ranks second in terms of the total exports with a 15% share, followed by the United Arab Emirates (13%). Kuwait (X tons) held a little share of total exports.

Exports from Saudi Arabia increased at an average annual rate of +2.5% from 2012 to 2021. At the same time, the United Arab Emirates (+12.6%) and Iran (+4.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +12.6% from 2012-2021. By contrast, Kuwait (-9.3%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+7.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-3 p.p.) and Kuwait (-3.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest polyethylene with a specific gravity of less than X supplier in MENA, comprising 63% of total exports. The second position in the ranking was held by Iran ($X), with a 17% share of total exports. It was followed by the United Arab Emirates, with a 15% share.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia was relatively modest. In the other countries, the average annual rates were as follows: Iran (+4.6% per year) and the United Arab Emirates (+13.9% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, growing by 48% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($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 (+1.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports in MENA

In 2021, approx. X tons of polyethylene with a specific gravity of less than X, in primary forms were imported in MENA; picking up by 5.3% on 2020 figures. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 when imports increased by 30%. The volume of import peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) was the key importer of polyethylene with a specific gravity of less than X, in primary forms, making up 45% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Egypt (X tons), Algeria (X tons) and Morocco (X tons). All these countries together held near 35% share of total imports. Israel (X tons), Saudi Arabia (X tons), Tunisia (X tons), Jordan (X tons), Oman (X tons) and Lebanon (X tons) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +7.7% from 2012 to 2021. At the same time, the United Arab Emirates (+11.5%), Algeria (+5.2%), Oman (+3.7%), Tunisia (+1.6%) and Israel (+1.3%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +11.5% from 2012-2021. Morocco and Egypt experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-3.5%), Lebanon (-4.2%) and Jordan (-4.9%) illustrated a downward trend over the same period. Turkey (+12 p.p.) and the United Arab Emirates (+8.1 p.p.) significantly strengthened its position in terms of the total imports, while Lebanon, Morocco, Jordan, Saudi Arabia and Egypt saw its share reduced by -1.8%, -1.8%, -2.7%, -2.9% and -3.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported polyethylene with a specific gravity of less than X, in primary forms in MENA, comprising 44% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total imports. It was followed by Egypt, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey totaled +6.2%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+10.0% per year) and Egypt (-0.5% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, increasing by 48% against the previous year. In general, the import price, however, showed a slight shrinkage. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Saudi Arabia ($X per ton) and Jordan ($X per ton), while the United Arab Emirates ($X per ton) and Lebanon ($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 (+2.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform