Middle East: Fluoropolymers Market 2024

Fluoropolymers Market Size in the Middle East

The Middle Eastern fluoropolymers market was estimated at $X in 2021, picking up by 2.9% against the previous year. The market value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Fluoropolymers Production in the Middle East

In value terms, fluoropolymers production fell slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the production volume increased by 36%. The level of production peaked at $X in 2020, and then dropped modestly in the following year.

Fluoropolymers Exports

Exports in the Middle East

After two years of growth, shipments abroad of fluoropolymers decreased by -45.4% to X tons in 2021. Over the period under review, exports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2013 when exports increased by 146% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, fluoropolymers exports fell markedly to $X in 2021. Overall, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 161% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Saudi Arabia (X tons) was the key exporter of fluoropolymers, generating 64% of total exports. It was distantly followed by Turkey (X tons) and Kuwait (X tons), together constituting a 29% share of total exports. The following exporters - Lebanon (X tons) and the United Arab Emirates (X tons) - each accounted for a 4.4% share of total exports.

Exports from Saudi Arabia increased at an average annual rate of +16.9% from 2012 to 2021. At the same time, Lebanon (+35.4%), Kuwait (+23.9%) and Turkey (+17.9%) displayed positive paces of growth. Moreover, Lebanon emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +35.4% from 2012-2021. By contrast, the United Arab Emirates (-19.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Saudi Arabia, Turkey, Kuwait and Lebanon increased by +26, +11, +3.3 and +2 percentage points, respectively.

In value terms, Saudi Arabia ($X) remains the largest fluoropolymers supplier in the Middle East, comprising 70% of total exports. The second position in the ranking was held by Turkey ($X), with an 18% share of total exports. It was followed by Kuwait, with a 5% share.

In Saudi Arabia, fluoropolymers exports increased at an average annual rate of +14.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+15.3% per year) and Kuwait (+20.1% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, growing by 4.1% against the previous year. Overall, the export price, however, saw a mild descent. The most prominent rate of growth was recorded in 2016 when the export price increased by 10%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 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, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-2.0%), while the other leaders experienced a decline in the export price figures.

Fluoropolymers Imports

Imports in the Middle East

In 2021, overseas purchases of fluoropolymers increased by 5.4% to X tons, rising for the second consecutive year after four years of decline. Overall, imports, however, saw a deep reduction. The growth pace was the most rapid in 2015 when imports increased by 60% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, fluoropolymers imports soared to $X in 2021. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey was the main importing country with an import of about X tons, which recorded 60% of total imports. Iran (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Saudi Arabia (12%). The United Arab Emirates (X tons), Israel (X tons) and Yemen (X tons) took a minor share of total imports.

Turkey was also the fastest-growing in terms of the fluoropolymers imports, with a CAGR of +10.8% from 2012 to 2021. At the same time, the United Arab Emirates (+4.5%), Israel (+4.2%), Iran (+2.9%) and Saudi Arabia (+1.4%) displayed positive paces of growth. By contrast, Yemen (-37.1%) illustrated a downward trend over the same period. Turkey (+50 p.p.), Iran (+9.2 p.p.), Saudi Arabia (+7.5 p.p.), the United Arab Emirates (+3.1 p.p.) and Israel (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while Yemen saw its share reduced by -74.2% from 2012 to 2021, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported fluoropolymers in the Middle East, comprising 68% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with an 11% share of total imports. It was followed by Iran, with an 8.6% share.

In Turkey, fluoropolymers imports increased at an average annual rate of +7.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+3.0% per year) and Iran (-1.8% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, growing by 22% against the previous year. Overall, the import price continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2016 when the import price increased by 40%. The level of import peaked in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Yemen (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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