Middle East: Polyacetals Market 2024

Polyacetals Market Size in the Middle East

For the sixth year in a row, the Middle Eastern polyacetals market recorded growth in sales value, which increased by 10% to $X in 2021. The market value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Polyacetals Production in the Middle East

In value terms, polyacetals production declined to $X in 2021 estimated in export price. The total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +87.3% against 2015 indices. The pace of growth was the most pronounced in 2017 with an increase of 44% against the previous year. The level of production peaked at $X in 2020, and then shrank in the following year.

Polyacetals Exports

Exports in the Middle East

In 2021, overseas shipments of polyacetals in primary forms increased by 2.4% to X tons, rising for the sixth consecutive year after two years of decline. Overall, exports posted a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 486% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in years to come.

In value terms, polyacetals exports soared to $X in 2021. In general, exports saw a significant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 380% against the previous year. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia was the main exporter of polyacetals in primary forms in the Middle East, with the volume of exports recording X tons, which was near 77% of total exports in 2021. It was distantly followed by Israel (X tons), comprising a 12% share of total exports. Turkey (X tons), the United Arab Emirates (X tons) and Oman (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to polyacetals exports from Saudi Arabia stood at +26.0%. At the same time, Oman (+57.4%), Israel (+14.7%) and Turkey (+11.8%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +57.4% from 2012-2021. By contrast, the United Arab Emirates (-8.7%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+37 p.p.) and Oman (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Turkey (-2 p.p.), Israel (-2.6 p.p.) and the United Arab Emirates (-31.7 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest polyacetals supplier in the Middle East, comprising 75% of total exports. The second position in the ranking was held by Israel ($X), with a 16% share of total exports. It was followed by Turkey, with a 4.8% share.

In Saudi Arabia, polyacetals exports expanded at an average annual rate of +33.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Israel (+18.8% per year) and Turkey (+17.3% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, growing by 23% against the previous year. Export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, polyacetals export price increased by +69.9% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Oman ($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 (+6.3%), while the other leaders experienced more modest paces of growth.

Polyacetals Imports

Imports in the Middle East

After three years of decline, supplies from abroad of polyacetals in primary forms increased by 0.5% to X tons in 2021. Total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -14.8% against 2015 indices. The most prominent rate of growth was recorded in 2014 with an increase of 51%. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, polyacetals imports skyrocketed to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 46%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Turkey represented the major importer of polyacetals in primary forms in the Middle East, with the volume of imports recording X tons, which was approx. 66% of total imports in 2021. Israel (X tons) ranks second in terms of the total imports with a 23% share, followed by the United Arab Emirates (6.9%). Iran (X tons) took a relatively small share of total imports.

Imports into Turkey increased at an average annual rate of +6.7% from 2012 to 2021. At the same time, the United Arab Emirates (+35.2%) and Israel (+6.3%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +35.2% from 2012-2021. By contrast, Iran (-14.9%) illustrated a downward trend over the same period. While the share of Turkey (+16 p.p.), the United Arab Emirates (+6.3 p.p.) and Israel (+5.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Iran (-13.7 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) constitutes the largest market for imported polyacetals in primary forms in the Middle East, comprising 63% of total imports. The second position in the ranking was taken by Israel ($X), with a 25% share of total imports. It was followed by the United Arab Emirates, with an 8% share.

In Turkey, polyacetals imports increased at an average annual rate of +8.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+6.8% per year) and the United Arab Emirates (+39.2% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, with an increase of 39% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the United Arab Emirates ($X per ton) and Iran ($X per ton), while Turkey ($X per ton) and Israel ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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