Saudi Arabia: Market for Plastic Hoses and Hose Fittings 2024

Market Size for Plastic Hoses and Hose Fittings in Saudi Arabia

In 2021, the Saudi market for plastic hoses and hose fittings decreased by -24.2% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption, however, continues to indicate a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2020, and then shrank dramatically in the following year.

Production of Plastic Hoses and Hose Fittings in Saudi Arabia

In value terms, plastic hose and hose fitting production reduced modestly to $X in 2021 estimated in export price. In general, the total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +105.5% against 2017 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 76%. Plastic hose and hose fitting production peaked at $X in 2020, and then shrank slightly in the following year.

Exports of Plastic Hoses and Hose Fittings

Exports from Saudi Arabia

In 2021, the amount of plastic hoses and hose fittings exported from Saudi Arabia surged to X tons, rising by 190% against the year before. Overall, exports, however, continue to indicate a abrupt curtailment. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, plastic hose and hose fitting exports soared to $X in 2021. In general, exports, however, recorded a mild shrinkage. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Yemen (X tons) was the main destination for plastic hose and hose fitting exports from Saudi Arabia, accounting for a 54% share of total exports. Moreover, plastic hose and hose fitting exports to Yemen exceeded the volume sent to the second major destination, Kuwait (X tons), sevenfold. The United Arab Emirates (X tons) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume to Yemen stood at +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (-1.6% per year) and the United Arab Emirates (-4.6% per year).

In value terms, Yemen ($X) remains the key foreign market for plastic hoses and hose fittings exports from Saudi Arabia, comprising 62% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.6% share of total exports. It was followed by Kuwait, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value to Yemen totaled +25.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-2.6% per year) and Kuwait (+0.2% per year).

Export Prices by Country

In 2021, the average export price for plastic hoses and hose fittings amounted to $X per ton, with an increase of 2.8% against the previous year. Over the last nine years, it increased at an average annual rate of +5.8%. The pace of growth was the most pronounced in 2020 when the average export price increased by 24% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Yemen ($X per ton), while the average price for exports to Niger ($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 Bahrain (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic Hoses and Hose Fittings

Imports into Saudi Arabia

In 2021, after two years of growth, there was significant decline in overseas purchases of plastic hoses and hose fittings, when their volume decreased by -42.1% to X tons. In general, imports recorded a pronounced descent. The pace of growth was the most pronounced in 2019 with an increase of 34% against the previous year. Imports peaked at X tons in 2020, and then contracted rapidly in the following year.

In value terms, plastic hose and hose fitting imports shrank notably to $X in 2021. Overall, imports continue to indicate a mild setback. The pace of growth appeared the most rapid in 2019 when imports increased by 19% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), the United States (X tons) and Italy (X tons) were the main suppliers of plastic hose and hose fitting imports to Saudi Arabia, together accounting for 52% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +13.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Germany ($X) were the largest plastic hose and hose fitting suppliers to Saudi Arabia, with a combined 42% share of total imports. Italy, Spain, the United Arab Emirates, the UK, the Czech Republic, South Korea, India, Jordan, Egypt and Oman lagged somewhat behind, together comprising a further 35%.

Spain, with a CAGR of +13.6%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for plastic hoses and hose fittings stood at $X per ton in 2021, picking up by 26% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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