MENA: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in MENA

In 2021, the MENA's polyethylene in primary forms market decreased by -6.9% to $X, falling for the third consecutive year after five years of growth. The total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -15.7% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Polyethylene in Primary Forms in MENA

In value terms, polyethylene in primary forms production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 20% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Polyethylene in Primary Forms

Exports in MENA

In 2021, overseas shipments of polyethylene in primary forms decreased by -0.1% to X tons, falling for the second consecutive year after five years of growth. The total export volume increased at an average annual rate of +2.9% 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 29% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, polyethylene in primary forms exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia represented the major exporter of polyethylene in primary forms in MENA, with the volume of exports amounting to X tons, which was approx. 58% of total exports in 2021. The United Arab Emirates (X tons) held the second position in the ranking, followed by Iran (X tons). All these countries together took approx. 37% share of total exports. The following exporters - Egypt (X tons) and Kuwait (X tons) - each finished at a 3.3% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to polyethylene in primary forms exports from Saudi Arabia stood at +1.5%. At the same time, the United Arab Emirates (+10.5%), Iran (+4.9%) and Egypt (+4.6%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +10.5% from 2012-2021. By contrast, Kuwait (-10.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates and Iran increased by +9.6 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest polyethylene in primary forms supplier in MENA, comprising 56% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 22% share of total exports. It was followed by Iran, with a 17% share.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+10.5% per year) and Iran (+3.9% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, picking up by 42% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+0.4%), while the other leaders experienced a decline in the export price figures.

Imports of Polyethylene in Primary Forms

Imports in MENA

For the third consecutive year, MENA recorded growth in overseas purchases of polyethylene in primary forms, which increased by 5.2% to X tons in 2021. The total import volume increased at an average annual rate of +3.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when imports increased by 24% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, polyethylene in primary forms imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey represented the largest importer of polyethylene in primary forms in MENA, with the volume of imports accounting for X tons, which was near 41% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), Egypt (X tons), Algeria (X tons), Israel (X tons) and Morocco (X tons), together mixing up a 42% share of total imports. Tunisia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to polyethylene in primary forms imports into Turkey stood at +5.1%. At the same time, the United Arab Emirates (+10.9%), Egypt (+5.0%), Algeria (+4.2%) and Tunisia (+2.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +10.9% from 2012-2021. Israel and Morocco experienced a relatively flat trend pattern. The United Arab Emirates (+6.5 p.p.) and Turkey (+5.7 p.p.) significantly strengthened its position in terms of the total imports, while Israel and Morocco saw its share reduced by -1.6% and -1.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported polyethylene in primary forms in MENA, comprising 40% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 12% share of total imports. It was followed by Egypt, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey stood at +3.5%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+9.6% per year) and Egypt (+4.6% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, with an increase of 46% against the previous year. In general, the import price, however, continues to indicate a mild reduction. 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 Israel ($X per ton) and Egypt ($X per ton), while the United Arab Emirates ($X per ton) and Algeria ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tunisia (+0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform