Saudi Arabia: Fluoropolymers Market 2024

Fluoropolymers Market Size in Saudi Arabia

In 2021, the Saudi fluoropolymers market increased by 7% to $X, rising for the fourth year in a row after three years of decline. Over the period under review, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +75.6% against 2017 indices. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the near future.

Fluoropolymers Production in Saudi Arabia

In value terms, fluoropolymers production fell to $X in 2021 estimated in export price. Overall, production, however, posted moderate growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 45%. Fluoropolymers production peaked at $X in 2020, and then contracted in the following year.

Fluoropolymers Exports

Exports from Saudi Arabia

In 2021, after two years of growth, there was significant decline in overseas shipments of fluoropolymers, when their volume decreased by -57.4% to X tons. Overall, exports, however, posted a strong expansion. The growth pace was the most rapid in 2013 when exports increased by 404% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, fluoropolymers exports declined sharply to $X in 2021. Over the period under review, exports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 375% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Sudan (X tons), Jordan (X tons) and Pakistan (X tons) were the main destinations of fluoropolymers exports from Saudi Arabia, together accounting for 45% of total exports. Tanzania, Kenya, Ghana, Turkey, Algeria and Oman lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +108.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Jordan ($X) emerged as the key foreign market for fluoropolymers exports from Saudi Arabia, comprising 26% of total exports. The second position in the ranking was held by Turkey ($X), with a 12% share of total exports. It was followed by Algeria, with a 9.6% share.

From 2012 to 2021, the average annual growth rate of value to Jordan amounted to +61.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+15.9% per year) and Algeria (+48.6% per year).

Export Prices by Country

The average fluoropolymers export price stood at $X per ton in 2021, picking up by 12% against the previous year. Over the period under review, the export price, however, recorded a perceptible descent. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Jordan ($X per ton), while the average price for exports to Sudan ($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 Jordan (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Fluoropolymers Imports

Imports into Saudi Arabia

After two years of decline, supplies from abroad of fluoropolymers decreased by 0% to X tons in 2021. Overall, imports continue to indicate a slight expansion. The pace of growth was the most pronounced in 2014 with an increase of 157% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, fluoropolymers imports amounted to $X in 2021. Over the period under review, imports saw a moderate increase. The pace of growth appeared the most rapid in 2018 when imports increased by 41% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest fluoropolymers supplier to Saudi Arabia, with a 37% share of total imports. Moreover, fluoropolymers imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by India (X tons), with an 8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.4% per year) and India (-18.6% per year).

In value terms, the largest fluoropolymers suppliers to Saudi Arabia were China ($X), Japan ($X) and the United States ($X), with a combined 61% share of total imports. These countries were followed by India, Germany and the Netherlands, which together accounted for a further 24%.

In terms of the main suppliers, India, with a CAGR of +19.1%, saw the highest growth rate of 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 2021, the average fluoropolymers import price amounted to $X per ton, approximately equating the previous year. Over the period under review, the import price showed a modest increase. The most prominent rate of growth was recorded in 2018 an increase of 40%. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+32.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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