Middle East: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in the Middle East

The Middle Eastern polypropylene in primary forms market dropped slightly to $X in 2022, which is down by -4.7% against the previous year. The market value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then fell in the following year.

Production of Polypropylene in Primary Forms in the Middle East

In value terms, polypropylene in primary forms production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 23%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Polypropylene in Primary Forms

Exports in the Middle East

In 2022, after ten years of growth, there was decline in overseas shipments of polypropylene in primary forms, when their volume decreased by -2.8% to X tons. The total export volume increased at an average annual rate of +3.5% 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 2014 with an increase of 11% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped modestly in the following year.

In value terms, polypropylene in primary forms exports dropped notably to $X in 2022. The total export value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 50% against the previous year. As a result, the exports reached the peak of $X, and then declined markedly in the following year.

Exports by Country

In 2022, Saudi Arabia (X tons) represented the main exporter of polypropylene in primary forms, creating 71% of total exports. It was distantly followed by the United Arab Emirates (X tons) and Oman (X tons), together committing a 23% share of total exports. Israel (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to polypropylene in primary forms exports from Saudi Arabia stood at +2.5%. At the same time, Oman (+9.0%) and the United Arab Emirates (+9.0%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +9.0% from 2012-2022. By contrast, Israel (-3.0%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+6.9 p.p.) and Oman (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Israel (-1.6 p.p.) and Saudi Arabia (-7.5 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest polypropylene in primary forms supplier in the Middle East, comprising 71% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 17% share of total exports. It was followed by Oman, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia totaled +1.4%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+7.5% per year) and Oman (+1.4% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, waning by -13.4% against the previous year. In general, the export price continues to indicate a mild shrinkage. The pace of growth was the most pronounced in 2021 when the export price increased by 41% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 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 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 (+2.2%), while the other leaders experienced a decline in the export price figures.

Imports of Polypropylene in Primary Forms

Imports in the Middle East

After three years of growth, overseas purchases of polypropylene in primary forms decreased by -6.9% to X tons in 2022. The total import volume increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 13% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then fell in the following year.

In value terms, polypropylene in primary forms imports shrank to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +38.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 58%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

Turkey dominates imports structure, resulting at X tons, which was near 80% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), making up a 7.7% share of total imports. The following importers - Israel (X tons), Saudi Arabia (X tons) and Oman (X tons) - together made up 7% of total imports.

From 2012 to 2022, average annual rates of growth with regard to polypropylene in primary forms imports into Turkey stood at +4.9%. At the same time, Saudi Arabia (+6.1%), Israel (+4.5%) and Oman (+1.0%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +6.1% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. While the share of Turkey (+8.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (-2.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported polypropylene in primary forms in the Middle East, comprising 81% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.5% share of total imports. It was followed by Israel, with a 4.2% share.

In Turkey, polypropylene in primary forms imports expanded at an average annual rate of +4.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-1.4% per year) and Israel (+6.8% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, waning by -6.3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 51%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 ($X per ton), while the United Arab Emirates ($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 (+2.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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