Middle East: Market for Pure Polyvinyl Chloride in Primary Forms 2024

Market Size for Pure Polyvinyl Chloride in Primary Forms in the Middle East

After three years of growth, the Middle Eastern market for pure polyvinyl chloride in primary forms decreased by -8.6% to $X in 2022. The market value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Production of Pure Polyvinyl Chloride in Primary Forms in the Middle East

In value terms, production of pure polyvinyl chloride in primary forms declined significantly to $X in 2022 estimated in export price. Overall, production, however, posted a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of 158%. As a result, production reached the peak level of $X, and then declined significantly in the following year.

Exports of Pure Polyvinyl Chloride in Primary Forms

Exports in the Middle East

In 2022, overseas shipments of pure polyvinyl chloride in primary forms increased by 9.1% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2016 when exports increased by 123%. Over the period under review, the exports of hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, exports of pure polyvinyl chloride in primary forms fell modestly to $X in 2022. In general, exports posted resilient growth. The pace of growth was the most pronounced in 2017 when exports increased by 128%. Over the period under review, the exports of attained the peak figure at $X in 2021, and then fell modestly in the following year.

Exports by Country

Saudi Arabia was the major exporting country with an export of around X tons, which resulted at 47% of total exports. Turkey (X tons) held a 30% share (based on physical terms) of total exports, which put it in second place, followed by Iran (18%). The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +16.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest pure polyvinyl chloride in primary forms supplying countries in the Middle East were Saudi Arabia ($X), Turkey ($X) and Iran ($X), together comprising 96% of total exports.

Turkey, with a CAGR of +19.6%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, falling by -11.6% against the previous year. Export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for pure polyvinyl chloride in primary forms increased by +51.7% against 2019 indices. The growth pace was the most rapid in 2021 when the export price increased by 61%. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+4.3%), while the other leaders experienced more modest paces of growth.

Imports of Pure Polyvinyl Chloride in Primary Forms

Imports in the Middle East

In 2022, after two years of growth, there was decline in overseas purchases of pure polyvinyl chloride in primary forms, when their volume decreased by -4.6% to X tons. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 12% against the previous year. As a result, imports reached the peak of X tons, and then dropped modestly in the following year.

In value terms, imports of pure polyvinyl chloride in primary forms reduced to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 +84.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 84% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

Turkey was the largest importer of pure polyvinyl chloride in primary forms in the Middle East, with the volume of imports finishing at X tons, which was approx. 61% of total imports in 2022. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Saudi Arabia (X tons). All these countries together held near 21% share of total imports. Israel (X tons), Kuwait (X tons), Oman (X tons) and Qatar (X tons) followed a long way behind the leaders.

Turkey experienced a relatively flat trend pattern with regard to volume of imports of pure polyvinyl chloride in primary forms. At the same time, Qatar (+17.6%), Oman (+6.2%), the United Arab Emirates (+4.4%) and Kuwait (+3.1%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +17.6% from 2012-2022. Israel experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-3.5%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+5.1 p.p.) and Qatar (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saudi Arabia (-2.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported pure polyvinyl chloride in primary forms in the Middle East, comprising 66% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 13% share of total imports. It was followed by Israel, with a 4.8% share.

In Turkey, imports of pure polyvinyl chloride in primary forms increased at an average annual rate of +4.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+6.6% per year) and Israel (+5.8% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, which is down by -2.7% against the previous year. Import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for pure polyvinyl chloride in primary forms increased by +59.8% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 64% against the previous year. As a result, import price reached the peak level of $X per ton, and then declined modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Kuwait ($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 (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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