Middle East: Plaster Article Market 2024

Plaster Article Market Size in the Middle East

In 2021, the Middle Eastern plaster article market decreased by -11% to $X for the first time since 2015, thus ending a five-year rising trend. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Plaster Article Production in the Middle East

In value terms, plaster article production declined to $X in 2021 estimated in export price. The total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +52.0% against 2015 indices. The growth pace was the most rapid in 2020 when the production volume increased by 22%. As a result, production attained the peak level of $X, and then contracted in the following year.

Plaster Article Exports

Exports in the Middle East

Plaster article exports skyrocketed to X tons in 2021, growing by 18% against 2020. Overall, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 44%. The volume of export peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, plaster article exports skyrocketed to $X in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +112.6% against 2012 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey represented the main exporter of articles of plaster or of compositions based on plaster in the Middle East, with the volume of exports reaching X tons, which was approx. 49% of total exports in 2021. Saudi Arabia (X tons) took a 20% share (based on physical terms) of total exports, which put it in second place, followed by Oman (20%) and the United Arab Emirates (9.2%). Iran (X tons) held a little share of total exports.

Exports from Turkey increased at an average annual rate of +14.6% from 2012 to 2021. At the same time, Oman (+35.8%), the United Arab Emirates (+8.6%) and Saudi Arabia (+8.4%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +35.8% from 2012-2021. By contrast, Iran (-5.5%) illustrated a downward trend over the same period. While the share of Oman (+16 p.p.) and Turkey (+5.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-4 p.p.), Iran (-7.9 p.p.) and Saudi Arabia (-9.2 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest plaster article supplier in the Middle East, comprising 48% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 23% share of total exports. It was followed by Oman, with a 17% share.

In Turkey, plaster article exports increased at an average annual rate of +14.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+2.9% per year) and Oman (+27.2% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, surging by 15% against the previous year. Overall, the export price, however, continues to indicate a perceptible slump. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-0.2%), while the other leaders experienced a decline in the export price figures.

Plaster Article Imports

Imports in the Middle East

In 2021, supplies from abroad of articles of plaster or of compositions based on plaster increased by 11% to X tons, rising for the fifth year in a row after two years of decline. Overall, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 42% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, plaster article imports declined to $X in 2021. Over the period under review, imports, however, continue to indicate a slight curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 13% against the previous year. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Palestine prevails in imports structure, resulting at X tons, which was approx. 75% of total imports in 2021. It was distantly followed by Iraq (X tons), comprising a 6.3% share of total imports. The United Arab Emirates (X tons), Qatar (X tons), Kuwait (X tons), Jordan (X tons) and Israel (X tons) followed a long way behind the leaders.

Palestine was also the fastest-growing in terms of the articles of plaster or of compositions based on plaster imports, with a CAGR of +23.8% from 2012 to 2021. At the same time, Kuwait (+22.2%), Israel (+21.7%), Jordan (+5.6%), Qatar (+4.1%), the United Arab Emirates (+1.3%) and Iraq (+1.1%) displayed positive paces of growth. While the share of Palestine (+42 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Jordan (-1.8 p.p.), Qatar (-3.4 p.p.), the United Arab Emirates (-5.4 p.p.) and Iraq (-10.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Iraq ($X), the United Arab Emirates ($X) and Qatar ($X) were the countries with the highest levels of imports in 2021, together accounting for 48% of total imports. Israel, Kuwait, Jordan and Palestine lagged somewhat behind, together accounting for a further 31%.

Kuwait, with a CAGR of +16.2%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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 the Middle East stood at $X per ton in 2021, which is down by -14.1% against the previous year. Overall, the import price saw a deep contraction. The most prominent rate of growth was recorded in 2015 when the import price increased by 9.7% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Israel ($X per ton), while Palestine ($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 (+0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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