Saudi Arabia: Polyacetals Market 2024

Polyacetals Market Size in Saudi Arabia

After two years of growth, the Saudi polyacetals market decreased by -15.5% to $X in 2021. Overall, consumption, however, posted resilient growth. Over the period under review, the market attained the peak level at $X in 2020, and then shrank notably in the following year.

Polyacetals Production in Saudi Arabia

In value terms, polyacetals production shrank markedly to $X in 2021 estimated in export price. Over the period under review, production, however, showed buoyant growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 246%. Over the period under review, production reached the maximum level at $X in 2020, and then declined markedly in the following year.

Polyacetals Exports

Exports from Saudi Arabia

In 2021, shipments abroad of polyacetals in primary forms increased by 3.9% to X tons, rising for the fifth year in a row after four years of decline. In general, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 5,538%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, polyacetals exports surged to $X in 2021. Overall, exports saw a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by 4,250% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

China (X tons) was the main destination for polyacetals exports from Saudi Arabia, with a 48% share of total exports. Moreover, polyacetals exports to China exceeded the volume sent to the second major destination, the Netherlands (X tons), fourfold. Germany (X tons) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +37.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+582.0% per year) and Germany (+339.7% per year).

In value terms, China ($X) remains the key foreign market for polyacetals in primary forms exports from Saudi Arabia, comprising 42% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 13% share of total exports. It was followed by Germany, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +46.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+676.9% per year) and Germany (+405.2% per year).

Export Prices by Country

In 2021, the average polyacetals export price amounted to $X per ton, rising by 16% against the previous year. In general, export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, polyacetals export price increased by +78.7% against 2017 indices. The growth pace was the most rapid in 2020 when the average export price increased by 16% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to China ($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 Germany (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.

Polyacetals Imports

Imports into Saudi Arabia

Polyacetals imports into Saudi Arabia reduced rapidly to X tons in 2019, dropping by -42.2% compared with 2018 figures. In general, imports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 2,191% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2019, imports remained at a lower figure.

In value terms, polyacetals imports soared to $X in 2019. Overall, imports, however, saw significant growth. The pace of growth was the most pronounced in 2014 with an increase of 1,764% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2019, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), India (X tons) and Oman (X tons) were the main suppliers of polyacetals imports to Saudi Arabia, together accounting for 86% of total imports.

From 2012 to 2019, the biggest increases were recorded for Oman (with a CAGR of +339.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of polyacetals in primary forms to Saudi Arabia, comprising 41% of total imports. The second position in the ranking was taken by Oman ($X), with a 20% share of total imports. It was followed by India, with a 20% share.

From 2012 to 2019, the average annual growth rate of value from China stood at +35.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (+258.2% per year) and India (+31.9% per year).

Import Prices by Country

In 2019, the average polyacetals import price amounted to $X per ton, increasing by 129% against the previous year. In general, the import price, however, continues to indicate a slight decrease. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2019, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was attained by Oman (+286.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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