Middle East: Polycarbonate Market 2024

Polycarbonate Market Size in the Middle East

The Middle Eastern polycarbonate market reduced to $X in 2022, shrinking by -11.1% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +21.9% against 2020 indices. As a result, consumption attained the peak level of $X, and then declined in the following year.

Polycarbonate Production in the Middle East

In value terms, polycarbonate production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed moderate growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by 39% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Polycarbonate Exports

Exports in the Middle East

In 2022, shipments abroad of polycarbonates (in primary forms) was finally on the rise to reach X tons after two years of decline. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 32%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, polycarbonate exports rose significantly to $X in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 33%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia prevails in exports structure, accounting for X tons, which was near 89% of total exports in 2022. The following exporters - Turkey (X tons), the United Arab Emirates (X tons) and Israel (X tons) - together made up 10% of total exports.

Saudi Arabia experienced a relatively flat trend pattern with regard to volume of exports of polycarbonates (in primary forms). At the same time, Turkey (+25.5%), the United Arab Emirates (+13.2%) and Israel (+6.8%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +25.5% from 2012-2022. While the share of Turkey (+3.4 p.p.) and the United Arab Emirates (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (-3.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest polycarbonate supplier in the Middle East, comprising 87% of total exports. The second position in the ranking was taken by Israel ($X), with a 5% share of total exports. It was followed by Turkey, with a 4.8% share.

In Saudi Arabia, polycarbonate exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (+10.0% per year) and Turkey (+23.1% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, with an increase of 6% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 6.2% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+3.0%), while the other leaders experienced a decline in the export price figures.

Polycarbonate Imports

Imports in the Middle East

In 2022, after two years of growth, there was decline in overseas purchases of polycarbonates (in primary forms), when their volume decreased by -4.2% to X tons. The total import volume increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by 12%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, polycarbonate imports dropped to $X in 2022. Total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 +49.1% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 52%. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

Turkey was the major importing country with an import of around X tons, which reached 55% of total imports. Israel (X tons) held the second position in the ranking, followed by the United Arab Emirates (X tons) and Saudi Arabia (X tons). All these countries together held approx. 39% share of total imports. The following importers - Oman (X tons) and Iran (X tons) - together made up 4.7% of total imports.

Imports into Turkey increased at an average annual rate of +3.7% from 2012 to 2022. At the same time, the United Arab Emirates (+8.9%) and Oman (+7.8%) 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 +8.9% from 2012-2022. Israel experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-1.6%) and Iran (-14.5%) illustrated a downward trend over the same period. Turkey (+9.6 p.p.) and the United Arab Emirates (+6.3 p.p.) significantly strengthened its position in terms of the total imports, while Israel, Saudi Arabia and Iran saw its share reduced by -3.5%, -3.7% and -9.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported polycarbonates (in primary forms) in the Middle East, comprising 57% of total imports. The second position in the ranking was taken by Israel ($X), with a 21% share of total imports. It was followed by the United Arab Emirates, with a 10% share.

In Turkey, polycarbonate imports increased at an average annual rate of +4.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+1.9% per year) and the United Arab Emirates (+7.7% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, dropping by -2.2% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 47%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

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 Israel ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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