Middle East: Expansible Polystyrene Market 2024

Expansible Polystyrene Market Size in the Middle East

In 2021, the Middle Eastern expansible polystyrene market decreased by -6.7% to $X, falling for the third consecutive year after three years of growth. Overall, consumption showed a noticeable shrinkage. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Expansible Polystyrene Production in the Middle East

In value terms, expansible polystyrene production stood at $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 38%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Expansible Polystyrene Exports

Exports in the Middle East

In 2021, exports of expansible polystyrene in primary forms in the Middle East surged to X tons, picking up by 51% against 2020. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 259%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, expansible polystyrene exports skyrocketed to $X in 2021. In general, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey represented the major exporter of expansible polystyrene in primary forms in the Middle East, with the volume of exports accounting for X tons, which was near 83% of total exports in 2021. Saudi Arabia (X tons) ranks second in terms of the total exports with an 11% share, followed by the United Arab Emirates (6.1%).

Exports from Turkey increased at an average annual rate of +19.4% from 2012 to 2021. At the same time, the United Arab Emirates (+37.9%) and Saudi Arabia (+26.8%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +37.9% from 2012-2021. The United Arab Emirates (+4.3 p.p.) and Saudi Arabia (+4.1 p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by -7.3% from 2012 to 2021, respectively.

In value terms, Turkey ($X) remains the largest expansible polystyrene supplier in the Middle East, comprising 84% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 9.9% share of total exports.

In Turkey, expansible polystyrene exports expanded at an average annual rate of +21.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+26.6% per year) and the United Arab Emirates (+39.2% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, increasing by 81% against the previous year. In general, the export price continues to indicate mild growth. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Saudi Arabia ($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 (+1.6%), while the other leaders experienced mixed trends in the export price figures.

Expansible Polystyrene Imports

Imports in the Middle East

For the sixth year in a row, the Middle East recorded decline in supplies from abroad of expansible polystyrene in primary forms, which decreased by -10% to X tons in 2021. In general, imports saw a deep downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 16%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, expansible polystyrene imports skyrocketed to $X in 2021. Over the period under review, imports recorded a abrupt shrinkage. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of expansible polystyrene imports in 2021 were Turkey (X tons), Saudi Arabia (X tons) and Israel (X tons), together reaching 71% of total import. The United Arab Emirates (X tons) held a 5.5% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (4.7%). The following importers - Jordan (X tons) and Syrian Arab Republic (X tons) - each recorded an 8.5% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Saudi Arabia (with a CAGR of +18.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest expansible polystyrene importing markets in the Middle East were Turkey ($X), Saudi Arabia ($X) and Israel ($X), with a combined 73% share of total imports.

Saudi Arabia, with a CAGR of +17.4%, recorded 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, with an increase of 54% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Israel ($X per ton) and Jordan ($X per ton), while Syrian Arab Republic ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+1.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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