Saudi Arabia: Expansible Polystyrene Market 2024

Expansible Polystyrene Market Size in Saudi Arabia

In 2021, the Saudi expansible polystyrene market decreased by -0.9% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption, however, continues to indicate a strong increase. Expansible polystyrene consumption peaked at $X in 2020, and then declined slightly in the following year.

Expansible Polystyrene Production in Saudi Arabia

In value terms, expansible polystyrene production reached $X in 2021 estimated in export price. Over the period under review, production, however, showed a prominent increase. The pace of growth was the most pronounced in 2016 when the production volume increased by 207%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Expansible Polystyrene Exports

Exports from Saudi Arabia

In 2021, exports of expansible polystyrene in primary forms from Saudi Arabia skyrocketed to X tons, growing by 30% against the previous year. Over the period under review, exports showed a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 208% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, expansible polystyrene exports skyrocketed to $X in 2021. In general, exports saw significant growth. The growth pace was the most rapid in 2016 when exports increased by 227%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Egypt (X tons) was the main destination for expansible polystyrene exports from Saudi Arabia, accounting for a 57% share of total exports. Moreover, expansible polystyrene exports to Egypt exceeded the volume sent to the second major destination, Algeria (X tons), fivefold. Nigeria (X tons) ranked third in terms of total exports with a 6% share.

From 2012 to 2021, the average annual growth rate of volume to Egypt amounted to +88.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (+18.1% per year) and Nigeria (+99.0% per year).

In value terms, Egypt ($X) remains the key foreign market for expansible polystyrene in primary forms exports from Saudi Arabia, comprising 62% of total exports. The second position in the ranking was held by Algeria ($X), with an 11% share of total exports. It was followed by Nigeria, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value to Egypt stood at +104.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (+23.2% per year) and Nigeria (+99.8% per year).

Export Prices by Country

In 2021, the average expansible polystyrene export price amounted to $X per ton, increasing by 58% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Expansible Polystyrene Imports

Imports into Saudi Arabia

In 2021, supplies from abroad of expansible polystyrene in primary forms increased by 7.9% to X tons, rising for the third year in a row after three years of decline. In general, imports showed a resilient expansion. The pace of growth was the most pronounced in 2015 when imports increased by 308% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, expansible polystyrene imports surged to $X in 2021. Overall, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2015 when imports increased by 192% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of expansible polystyrene to Saudi Arabia, accounting for a 65% share of total imports. Moreover, expansible polystyrene imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+287.5% per year) and Taiwan (Chinese) (+21.8% per year).

In value terms, China ($X) constituted the largest supplier of expansible polystyrene in primary forms to Saudi Arabia, comprising 68% of total imports. The second position in the ranking was held by Germany ($X), with an 18% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +18.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+242.2% per year) and Taiwan (Chinese) (+22.0% per year).

Import Prices by Country

In 2021, the average expansible polystyrene import price amounted to $X per ton, picking up by 46% against the previous year. Over the period under review, the import price, however, recorded a mild slump. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for Turkey ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :