Middle East: Market for Cellular Plates, Sheets and Films of Polyymers of Styrene 2024

Market Size for Cellular Plates, Sheets and Films of Polyymers of Styrene in the Middle East

In 2022, the Middle Eastern market for cellular plates, sheets and films of polyymers of styrene was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Cellular Plates, Sheets and Films of Polyymers of Styrene in the Middle East

In value terms, production of cellular plates, sheets and films of polyymers of styrene fell to $X in 2022 estimated in export price. Overall, production continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 58% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production of growth failed to regain momentum.

Exports of Cellular Plates, Sheets and Films of Polyymers of Styrene

Exports in the Middle East

After four years of growth, shipments abroad of cellular plates, sheets and films of polyymers of styrene decreased by -3.6% to X tons in 2022. In general, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 44%. Over the period under review, the exports of attained the maximum at X tons in 2021, and then dropped slightly in the following year.

In value terms, exports of cellular plates, sheets and films of polyymers of styrene stood at $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +69.7% against 2017 indices. The most prominent rate of growth was recorded in 2014 with an increase of 34%. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

Turkey was the key exporter of cellular plates, sheets and films of polyymers of styrene in the Middle East, with the volume of exports accounting for X tons, which was near 71% of total exports in 2022. Kuwait (X tons) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Palestine (10%) and Saudi Arabia (5%). The United Arab Emirates (X tons) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of +16.8% from 2012 to 2022. At the same time, Palestine (+35.5%) displayed positive paces of growth. Moreover, Palestine emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +35.5% from 2012-2022. By contrast, Saudi Arabia (-1.2%), Kuwait (-1.6%) and the United Arab Emirates (-2.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Palestine increased by +31 and +8.8 percentage points, respectively.

In value terms, Turkey ($X) remains the largest polystyrene cellular plates, sheets and films supplier in the Middle East, comprising 60% of total exports. The second position in the ranking was held by Palestine ($X), with a 17% share of total exports. It was followed by Kuwait, with a 14% share.

In Turkey, exports of cellular plates, sheets and films of polyymers of styrene increased at an average annual rate of +11.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Palestine (+34.5% per year) and Kuwait (-3.8% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, growing by 4.7% against the previous year. In general, the export price, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2021 when the export price increased by 15%. The level of export peaked 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 Palestine ($X per ton), while Turkey ($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 (+0.5%), while the other leaders experienced a decline in the export price figures.

Imports of Cellular Plates, Sheets and Films of Polyymers of Styrene

Imports in the Middle East

In 2022, approx. X tons of cellular plates, sheets and films of polyymers of styrene were imported in the Middle East; growing by 1.7% on 2021 figures. Total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +10.4% 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 +21.0% against 2016 indices. The growth pace was the most rapid in 2013 with an increase of 78% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, imports of cellular plates, sheets and films of polyymers of styrene shrank to $X in 2022. Total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +18.5% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 50% against the previous year. Over the period under review, imports of reached the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Iraq (X tons) represented the key importer of cellular plates, sheets and films of polyymers of styrene, creating 61% of total imports. Saudi Arabia (X tons) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by Israel (6.5%) and the United Arab Emirates (4.6%). Oman (X tons), Qatar (X tons) and Kuwait (X tons) followed a long way behind the leaders.

Iraq was also the fastest-growing in terms of the cellular plates, sheets and films of polyymers of styrene imports, with a CAGR of +25.7% from 2012 to 2022. At the same time, Saudi Arabia (+13.7%), Kuwait (+7.0%), Israel (+5.2%) and the United Arab Emirates (+1.5%) displayed positive paces of growth. By contrast, Qatar (-4.5%) and Oman (-7.6%) illustrated a downward trend over the same period. While the share of Iraq (+45 p.p.) and Saudi Arabia (+3.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Israel (-4 p.p.), the United Arab Emirates (-6.1 p.p.), Qatar (-7.5 p.p.) and Oman (-12.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest polystyrene cellular plates, sheets and films importing markets in the Middle East were Iraq ($X), Saudi Arabia ($X) and Israel ($X), with a combined 69% share of total imports.

Iraq, with a CAGR of +15.0%, saw the highest rates of growth with regard to 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

In 2022, the import price in the Middle East amounted to $X per ton, falling by -4.4% against the previous year. Overall, the import price saw a deep setback. The pace of growth appeared the most rapid in 2021 an increase of 24% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 the United Arab Emirates ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+0.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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