Middle East: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in the Middle East

In 2022, the Middle Eastern plastic reservoir market decreased by -20.3% to $X for the first time since 2014, thus ending a seven-year rising trend. Overall, consumption, however, saw a prominent expansion. As a result, consumption attained the peak level of $X, and then shrank notably in the following year.

Plastic Reservoir Production in the Middle East

In value terms, plastic reservoir production declined sharply to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2018 when the production volume increased by 51%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Plastic Reservoir Exports

Exports in the Middle East

In 2022, overseas shipments of plastic reservoirs, tanks and vats increased by 8.9% to X tons, rising for the second year in a row after five years of decline. Overall, exports enjoyed a mild increase. The pace of growth appeared the most rapid in 2014 when exports increased by 96%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic reservoir exports surged to $X in 2022. Total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% 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 +93.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 52% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Bahrain was the major exporter of plastic reservoirs, tanks and vats in the Middle East, with the volume of exports recording X tons, which was near 48% of total exports in 2022. It was distantly followed by Turkey (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons) and Israel (X tons), together creating a 47% share of total exports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +77.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bahrain ($X), Turkey ($X) and the United Arab Emirates ($X) were the countries with the highest levels of exports in 2022, with a combined 83% share of total exports.

Bahrain, with a CAGR of +90.4%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, increasing by 17% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the export price increased by 23% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($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 (+15.2%), while the other leaders experienced more modest paces of growth.

Plastic Reservoir Imports

Imports in the Middle East

In 2022, approx. X tons of plastic reservoirs, tanks and vats were imported in the Middle East; which is down by -6.3% against 2021 figures. The total import volume increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 37% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic reservoir imports dropped to $X in 2022. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 38% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) represented roughly 60% of total imports in 2022. It was distantly followed by Qatar (X tons), Oman (X tons) and Kuwait (X tons), together mixing up a 23% share of total imports. The following importers - Iraq (X tons) and Bahrain (X tons) - each recorded an 8.5% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +10.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Qatar ($X) were the countries with the highest levels of imports in 2022, with a combined 66% share of total imports.

Qatar, with a CAGR of +6.3%, recorded the highest rates of growth with regard to the value of imports, among 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 2022, approximately equating the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the import price increased by 17%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (+3.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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