Middle East: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in the Middle East

In 2021, the Middle Eastern market for polyethylene with a specific gravity of less than X, in primary forms decreased by -33% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Polyethylene with a Specific Gravity of Less than X, in Primary Forms in the Middle East

In value terms, production of polyethylene with a specific gravity of less than X, in primary forms expanded sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 30%. Over the period under review, production of reached the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports in the Middle East

Exports of polyethylene with a specific gravity of less than X, in primary forms was estimated at X tons in 2021, increasing by 1.7% against 2020 figures. The total export volume increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when exports increased by 58%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms skyrocketed to $X in 2021. Total exports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% 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 2013 with an increase of 67% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

In 2021, Saudi Arabia (X tons) represented the major exporter of polyethylene with a specific gravity of less than X, in primary forms, achieving 68% of total exports. Iran (X tons) ranks second in terms of the total exports with a 15% share, followed by the United Arab Emirates (13%). Kuwait (X tons) followed a long way behind the leaders.

Exports from Saudi Arabia increased at an average annual rate of +2.5% from 2012 to 2021. At the same time, the United Arab Emirates (+12.6%) and Iran (+4.0%) 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 +12.6% from 2012-2021. By contrast, Kuwait (-9.3%) illustrated a downward trend over the same period. The United Arab Emirates (+7.3 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and Kuwait saw its share reduced by -3.4% and -3.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest polyethylene with a specific gravity of less than X supplier in the Middle East, comprising 64% of total exports. The second position in the ranking was held by Iran ($X), with a 17% share of total exports. It was followed by the United Arab Emirates, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Saudi Arabia was relatively modest. In the other countries, the average annual rates were as follows: Iran (+4.6% per year) and the United Arab Emirates (+13.9% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, increasing by 48% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($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 (+1.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports in the Middle East

In 2021, imports of polyethylene with a specific gravity of less than X, in primary forms in the Middle East stood at X tons, increasing by 12% on the year before. The total import volume increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 34%. The volume of import peaked in 2021 and is likely to see steady growth in years to come.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms soared to $X in 2021. The total import value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey represented the major importing country with an import of around X tons, which finished at 57% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Israel (X tons). All these countries together took approx. 28% share of total imports. Saudi Arabia (X tons), Jordan (X tons), Oman (X tons) and Lebanon (X tons) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +7.7% from 2012 to 2021. At the same time, the United Arab Emirates (+11.5%), Oman (+3.7%) and Israel (+1.3%) 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 +11.5% from 2012-2021. By contrast, Saudi Arabia (-3.5%), Lebanon (-4.2%) and Jordan (-4.9%) illustrated a downward trend over the same period. Turkey (+13 p.p.) and the United Arab Emirates (+9.5 p.p.) significantly strengthened its position in terms of the total imports, while Israel, Lebanon, Jordan and Saudi Arabia saw its share reduced by -1.9%, -2.6%, -3.9% and -4.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported polyethylene with a specific gravity of less than X, in primary forms in the Middle East, comprising 57% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total imports. It was followed by Israel, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value in Turkey amounted to +6.2%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+10.0% per year) and Israel (+0.2% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, surging by 48% against the previous year. Over the period under review, the import price, however, continues to indicate a mild descent. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Saudi Arabia ($X per ton) and Jordan ($X per ton), while the United Arab Emirates ($X per ton) and Lebanon ($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 (+2.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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