Saudi Arabia: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in Saudi Arabia

After three years of growth, the Saudi plastic reservoir market decreased by -6.9% to $X in 2022. Over the period under review, consumption, however, showed a pronounced increase. Plastic reservoir consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Plastic Reservoir Exports

Exports from Saudi Arabia

In 2022, the amount of plastic reservoirs, tanks and vats exported from Saudi Arabia fell to X tons, with a decrease of -10% on the year before. Overall, exports, however, showed strong growth. The pace of growth appeared the most rapid in 2016 when exports increased by 166%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, plastic reservoir exports fell sharply to $X in 2022. Over the period under review, exports, however, saw resilient growth. The pace of growth was the most pronounced in 2016 when exports increased by 273%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Bahrain (X tons), Kuwait (X tons) and Iraq (X tons) were the main destinations of plastic reservoir exports from Saudi Arabia, with a combined 77% share of total exports. The United Arab Emirates and Jordan lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +24.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic reservoir exported from Saudi Arabia were Bahrain ($X), Kuwait ($X) and Iraq ($X), together comprising 81% of total exports. The United Arab Emirates and Jordan lagged somewhat behind, together comprising a further 17%.

The United Arab Emirates, with a CAGR of +18.6%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average plastic reservoir export price amounted to $X per ton, reducing by -7.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2016 an increase of 40% against the previous year. The export price peaked at $X per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to Jordan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (+2.4%), while the prices for the other major destinations experienced a decline.

Plastic Reservoir Imports

Imports into Saudi Arabia

After three years of growth, supplies from abroad of plastic reservoirs, tanks and vats decreased by -3.5% to X tons in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its volume 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, imports increased by +65.2% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 57% against the previous year. Imports peaked at X tons in 2021, and then shrank slightly in the following year.

In value terms, plastic reservoir imports reduced to $X in 2022. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -11.4% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 71%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Bahrain (X tons) and the United Arab Emirates (X tons) were the main suppliers of plastic reservoir imports to Saudi Arabia, together comprising 69% of total imports. South Korea, Malaysia, Brazil and Germany lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +18.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic reservoir suppliers to Saudi Arabia were Bahrain ($X), China ($X) and the United Arab Emirates ($X), together comprising 59% of total imports. Germany, Malaysia, South Korea and Brazil lagged somewhat behind, together accounting for a further 31%.

Among the main suppliers, Germany, with a CAGR of +26.7%, 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 average plastic reservoir import price amounted to $X per ton, with a decrease of -7.7% against the previous year. In general, the import price showed a perceptible decline. The pace of growth was the most pronounced in 2017 when the average import price increased by 36%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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