Middle East: Plastic Supports Market 2024

Plastic Supports Market Size in the Middle East

The Middle Eastern plastic supports market dropped to $X in 2022, which is down by -7.3% against the previous year. Over the period under review, consumption, however, showed a buoyant expansion. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Plastic Supports Production in the Middle East

In value terms, plastic supports production fell to $X in 2022 estimated in export price. Overall, production, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by 76% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Plastic Supports Exports

Exports in the Middle East

In 2022, the amount of spools, cops, bobbins and similar supports of plastics exported in the Middle East rose remarkably to X tons, growing by 13% against the previous year's figure. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +35.6% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 31% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, plastic supports exports expanded notably to $X in 2022. Over the period under review, exports recorded a buoyant increase. The growth pace was the most rapid in 2021 when exports increased by 36% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Turkey prevails in exports structure, recording X tons, which was approx. 79% of total exports in 2022. Israel (X tons) took the second position in the ranking, followed by the United Arab Emirates (X tons). All these countries together took approx. 17% share of total exports. Saudi Arabia (X tons) held a minor share of total exports.

Exports from Turkey increased at an average annual rate of +5.4% from 2012 to 2022. At the same time, Israel (+42.9%), Saudi Arabia (+6.3%) and the United Arab Emirates (+1.9%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +42.9% from 2012-2022. Israel (+9.2 p.p.) significantly strengthened its position in terms of the total exports, while Turkey and the United Arab Emirates saw its share reduced by -3.2% and -3.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest plastic supports supplier in the Middle East, comprising 81% of total exports. The second position in the ranking was held by Israel ($X), with a 12% share of total exports. It was followed by the United Arab Emirates, with a 5.3% share.

In Turkey, plastic supports exports increased at an average annual rate of +12.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Israel (+43.9% per year) and the United Arab Emirates (+0.3% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, remaining stable against the previous year. Export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic supports export price increased by +14.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the export price increased by 24%. The level of export peaked in 2022 and is expected to retain growth in the near future.

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 ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+6.8%), while the other leaders experienced mixed trends in the export price figures.

Plastic Supports Imports

Imports in the Middle East

In 2022, approx. X tons of spools, cops, bobbins and similar supports of plastics were imported in the Middle East; surging by 4.7% compared with the year before. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +8.5% 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 +40.7% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 39% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, plastic supports imports contracted modestly to $X in 2022. In general, imports posted a prominent increase. The pace of growth was the most pronounced in 2014 with an increase of 43% against the previous year. The level of import peaked at $X in 2021, and then fell slightly in the following year.

Imports by Country

In 2022, Turkey (X tons) was the key importer of spools, cops, bobbins and similar supports of plastics, constituting 63% of total imports. Israel (X tons) held the second position in the ranking, followed by the United Arab Emirates (X tons). All these countries together held approx. 26% share of total imports. Iran (X tons), Oman (X tons) and Qatar (X tons) held a minor share of total imports.

Imports into Turkey increased at an average annual rate of +13.1% from 2012 to 2022. At the same time, Qatar (+23.3%), the United Arab Emirates (+14.8%), Israel (+7.4%) and Iran (+4.6%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +23.3% from 2012-2022. By contrast, Oman (-1.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and the United Arab Emirates increased by +22 and +5.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported spools, cops, bobbins and similar supports of plastics in the Middle East, comprising 61% of total imports. The second position in the ranking was held by Israel ($X), with a 16% share of total imports. It was followed by the United Arab Emirates, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled +13.1%. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+9.2% per year) and the United Arab Emirates (+16.3% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, which is down by -4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2013 an increase of 12% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Iran ($X per ton), while Qatar ($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 (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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