MENA: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in MENA

The MENA's plastic ornamental articles market dropped to $X in 2022, with a decrease of -13.3% against the previous year. Over the period under review, consumption continues to indicate a deep reduction. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Plastic Ornamental Articles Production in MENA

In value terms, plastic ornamental articles production soared to $X in 2022 estimated in export price. Overall, production, however, saw a abrupt slump. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Plastic Ornamental Articles Exports

Exports in MENA

In 2022, approx. X tons of statuettes and other ornamental articles of plastic were exported in MENA; stabilizing at 2021. Overall, exports continue to indicate a slight contraction. The pace of growth was the most pronounced in 2017 when exports increased by 120%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, plastic ornamental articles exports expanded remarkably to $X in 2022. In general, exports saw a pronounced decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 57% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Turkey (X tons) was the key exporter of statuettes and other ornamental articles of plastic, comprising 69% of total exports. The United Arab Emirates (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Iran (6.2%). The following exporters - Oman (X tons), Israel (X tons) and Lebanon (X tons) - each resulted at a 5.6% share of total exports.

Exports from Turkey increased at an average annual rate of +10.8% from 2012 to 2022. At the same time, Oman (+26.2%) and Iran (+19.4%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of +26.2% from 2012-2022. By contrast, the United Arab Emirates (-5.6%), Lebanon (-9.9%) and Israel (-29.0%) illustrated a downward trend over the same period. While the share of Turkey (+48 p.p.), Iran (+5.3 p.p.) and Oman (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Lebanon (-2.1 p.p.), the United Arab Emirates (-6 p.p.) and Israel (-46.1 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest plastic ornamental articles supplier in MENA, comprising 61% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 15% share of total exports. It was followed by Israel, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled +9.8%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+1.6% per year) and Israel (-28.1% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, picking up by 7.8% against the previous year. In general, the export price, however, continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2018 when the export price increased by 28% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 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 Israel ($X per ton), while Iran ($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 (+7.6%), while the other leaders experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports in MENA

In 2022, the amount of statuettes and other ornamental articles of plastic imported in MENA contracted significantly to X tons, which is down by -20.2% against 2021 figures. Overall, imports recorded a abrupt slump. The pace of growth was the most pronounced in 2013 when imports increased by 17% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, plastic ornamental articles imports reduced to $X in 2022. Over the period under review, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of 51%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons) and Iraq (X tons) were the key importers of statuettes and other ornamental articles of plastic in 2022, resulting at approx. 26% and 25% of total imports, respectively. It was distantly followed by Iran (X tons), Turkey (X tons), Israel (X tons) and Algeria (X tons), together making up a 26% share of total imports. Kuwait (X tons), Yemen (X tons), Qatar (X tons), Libya (X tons), Djibouti (X tons), Oman (X tons) and Tunisia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +10.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic ornamental articles importing markets in MENA were the United Arab Emirates ($X), Iraq ($X) and Iran ($X), together accounting for 58% of total imports. Israel, Turkey, Qatar, Kuwait, Algeria, Yemen, Libya, Djibouti, Tunisia and Oman lagged somewhat behind, together accounting for a further 35%.

Among the main importing countries, Qatar, with a CAGR of +20.4%, saw the highest rates of growth with regard to the value of imports, 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, rising by 13% against the previous year. Import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic ornamental articles import price increased by +60.1% against 2018 indices. The pace of growth was the most pronounced in 2013 an increase of 29% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is likely to continue growth in years to come.

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 Qatar ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Algeria (+15.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform