MENA: Polyvinyl Chloride Market 2024

Polyvinyl Chloride Market Size in MENA

The MENA's polyvinyl chloride market contracted slightly to $X in 2022, declining by -3.8% against the previous year. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +60.4% against 2020 indices. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Polyvinyl Chloride Production in MENA

In value terms, polyvinyl chloride production fell markedly to $X in 2022 estimated in export price. The total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +39.3% against 2018 indices. The pace of growth appeared the most rapid in 2021 when the production volume increased by 68% against the previous year. As a result, production attained the peak level of $X, and then declined notably in the following year.

Polyvinyl Chloride Exports

Exports in MENA

After three years of decline, overseas shipments of polyvinyl chloride increased by 18% to X tons in 2022. In general, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 123%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, polyvinyl chloride exports reached $X in 2022. Overall, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2015 when exports increased by 111%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Egypt (X tons), Saudi Arabia (X tons), Turkey (X tons) and the United Arab Emirates (X tons) represented roughly 97% of total exports in 2022. 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 key exporting countries, was attained by Oman (with a CAGR of +24.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest polyvinyl chloride supplying countries in MENA were Egypt ($X), Saudi Arabia ($X) and Turkey ($X), with a combined 81% share of total exports.

Among the main exporting countries, Turkey, with a CAGR of +18.2%, recorded the highest rates of growth with regard to 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, with a decrease of -9% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 66% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, 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 Egypt ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.4%), while the other leaders experienced mixed trends in the export price figures.

Polyvinyl Chloride Imports

Imports in MENA

In 2022, supplies from abroad of polyvinyl chloride increased by 0.4% to X tons, rising for the third year in a row after two years of decline. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 12% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, polyvinyl chloride imports reduced modestly to $X in 2022. Total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +78.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 77% against the previous year. As a result, imports reached the peak of $X, and then declined slightly in the following year.

Imports by Country

In 2022, Turkey (X tons) was the main importer of polyvinyl chloride, comprising 41% of total imports. Egypt (X tons) took the second position in the ranking, followed by the United Arab Emirates (X tons), Algeria (X tons) and Saudi Arabia (X tons). All these countries together held approx. 37% share of total imports. Morocco (X tons), Israel (X tons), Tunisia (X tons), Oman (X tons), Kuwait (X tons), Qatar (X tons) and Bahrain (X tons) followed a long way behind the leaders.

Turkey experienced a relatively flat trend pattern with regard to volume of imports of polyvinyl chloride. At the same time, Qatar (+10.5%), Oman (+8.8%), Algeria (+7.4%), Bahrain (+4.3%), the United Arab Emirates (+4.1%), Egypt (+3.8%), Kuwait (+3.6%) and Morocco (+2.6%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in MENA, with a CAGR of +10.5% from 2012-2022. Tunisia experienced a relatively flat trend pattern. By contrast, Israel (-1.5%) and Saudi Arabia (-2.4%) illustrated a downward trend over the same period. Algeria (+3.3 p.p.), Egypt (+2.5 p.p.) and the United Arab Emirates (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia and Turkey saw its share reduced by -2.5% and -3.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported polyvinyl chloride in MENA, comprising 45% of total imports. The second position in the ranking was taken by Egypt ($X), with a 14% share of total imports. It was followed by the United Arab Emirates, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +5.0%. In the other countries, the average annual rates were as follows: Egypt (+5.6% per year) and the United Arab Emirates (+5.9% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, declining by -3.9% against the previous year. Import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polyvinyl chloride import price increased by +54.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when the import price increased by 61%. As a result, import price reached the peak level of $X per ton, and then declined in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+9.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform