Middle East: Market for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms 2024

Market Size for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in the Middle East

The Middle Eastern market for polyethylene terephthalate and other polyethylene terephthalate in primary forms shrank to $X in 2022, dropping by -8% against the previous year. Overall, consumption showed a abrupt setback. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in the Middle East

In value terms, production of polyethylene terephthalate and other polyethylene terephthalate in primary forms fell to $X in 2022 estimated in export price. In general, production recorded a deep downturn. The pace of growth was the most pronounced in 2014 with an increase of 21% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production of growth failed to regain momentum.

Exports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Exports in the Middle East

In 2022, overseas shipments of polyethylene terephthalate and other polyethylene terephthalate in primary forms increased by 36% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a deep contraction. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms skyrocketed to $X in 2022. In general, exports, however, saw a dramatic curtailment. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Iran (X tons) was the main exporter of polyethylene terephthalate and other polyethylene terephthalate in primary forms, comprising 56% of total exports. Oman (X tons) took a 34% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (8.9%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Iran (with a CAGR of -8.6%), while the other leaders experienced a decline in the exports figures.

In value terms, Iran ($X), Oman ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2022, with a combined 97% share of total exports.

In terms of the main exporting countries, Iran, with a CAGR of -13.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, picking up by 2.4% against the previous year. In general, the export price, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2017 an increase of 7.7% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat 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 Oman ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (-4.0%), while the other leaders experienced a decline in the export price figures.

Imports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Imports in the Middle East

In 2022, the amount of polyethylene terephthalate and other polyethylene terephthalate in primary forms imported in the Middle East reached X tons, therefore, remained relatively stable against the previous year's figure. Overall, imports, however, continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2013 when imports increased by 17%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms expanded modestly to $X in 2022. In general, imports, however, faced a abrupt decline. The pace of growth appeared the most rapid in 2013 when imports increased by 16%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

Iran represented the key importing country with an import of about X tons, which accounted for 62% of total imports. It was distantly followed by Saudi Arabia (X tons) and Yemen (X tons), together making up a 23% share of total imports. The following importers - Lebanon (X tons), the United Arab Emirates (X tons), Israel (X tons) and Jordan (X tons) - each recorded a 13% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to polyethylene terephthalate and other polyethylene terephthalate in primary forms imports into Iran stood at +13.8%. At the same time, Yemen (+15.1%) displayed positive paces of growth. Moreover, Yemen emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +15.1% from 2012-2022. By contrast, Lebanon (-1.1%), Jordan (-1.2%), Saudi Arabia (-5.2%), Israel (-17.6%) and the United Arab Emirates (-20.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Iran, Yemen and Saudi Arabia increased by +53, +8 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Iran ($X) constitutes the largest market for imported polyethylene terephthalate and other polyethylene terephthalate in primary forms in the Middle East, comprising 55% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 14% share of total imports. It was followed by Yemen, with a 9.7% share.

In Iran, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms increased at an average annual rate of +6.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (-10.0% per year) and Yemen (+9.5% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, almost unchanged from the previous year. Over the period under review, the import price, however, recorded a abrupt contraction. The growth pace was the most rapid in 2017 an increase of 3.8%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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