Middle East: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in the Middle East

The Middle Eastern plastic ornamental articles market dropped to $X in 2022, waning by -14.1% against the previous year. Over the period under review, consumption showed a drastic downturn. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Plastic Ornamental Articles Production in the Middle East

In value terms, plastic ornamental articles production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a deep slump. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Plastic Ornamental Articles Exports

Exports in the Middle East

In 2022, the amount of statuettes and other ornamental articles of plastic exported in the Middle East shrank modestly to X tons, remaining relatively unchanged against 2021. Overall, exports saw a pronounced downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 126% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, plastic ornamental articles exports rose sharply to $X in 2022. Over the period under review, exports showed a deep contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 62%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey represented the largest exporting country with an export of around X tons, which accounted for 70% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 13% share, followed by Iran (6.3%). The following exporters - Oman (X tons), Israel (X tons) and Lebanon (X tons) - each accounted for a 5.7% share of total exports.

Exports from Turkey increased at an average annual rate of +10.8% from 2012 to 2022. At the same time, Oman (+26.2%) and Iran (+19.4%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +26.2% from 2012-2022. By contrast, the United Arab Emirates (-5.6%), Lebanon (-9.9%) and Israel (-29.0%) illustrated a downward trend over the same period. While the share of Turkey (+50 p.p.), Iran (+5.4 p.p.) and Oman (+2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Lebanon (-2.1 p.p.), the United Arab Emirates (-5.9 p.p.) and Israel (-46.5 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest plastic ornamental articles supplier in the Middle East, comprising 64% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 15% share of total exports. It was followed by Israel, with a 4.4% share.

In Turkey, plastic ornamental articles exports expanded at an average annual rate of +9.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+1.6% per year) and Israel (-28.1% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, rising by 7.7% against the previous year. Overall, the export price, however, recorded a pronounced slump. The pace of growth appeared the most rapid in 2018 when the export price increased by 27%. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.6%), while the other leaders experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports in the Middle East

In 2022, approx. X tons of statuettes and other ornamental articles of plastic were imported in the Middle East; waning by -22.4% compared with 2021 figures. In general, imports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 17%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, plastic ornamental articles imports reduced to $X in 2022. Overall, imports showed a abrupt slump. The growth pace was the most rapid in 2013 when imports increased by 56% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons) and Iraq (X tons) represented the main importers of statuettes and other ornamental articles of plastic in 2022, finishing at approx. 29% and 28% of total imports, respectively. It was distantly followed by Iran (X tons), Turkey (X tons) and Israel (X tons), together creating a 24% share of total imports. The following importers - Kuwait (X tons) and Yemen (X tons) - each recorded an 8.4% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iraq (with a CAGR of +0.0%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest plastic ornamental articles importing markets in the Middle East were the United Arab Emirates ($X), Iraq ($X) and Iran ($X), together accounting for 65% of total imports. Israel, Turkey, Kuwait and Yemen lagged somewhat behind, together comprising a further 23%.

Among the main importing countries, Yemen, with a CAGR of +9.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, with an increase of 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.5%. The growth pace was the most rapid in 2013 when the import price increased by 33% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Yemen (+11.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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