Saudi Arabia: Polyamide Market 2024

Polyamide Market Size in Saudi Arabia

In 2021, the Saudi polyamide market increased by 7.5% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, posted noticeable growth. Over the period under review, the market hit record highs in 2021 and is likely to see gradual growth in years to come.

Polyamide Exports

Exports from Saudi Arabia

In 2021, the amount of polyamides (in primary forms) exported from Saudi Arabia rose sharply to X tons, increasing by 6.2% on the previous year's figure. Overall, exports, however, continue to indicate a deep downturn. The growth pace was the most rapid in 2014 with an increase of 39% against the previous year. 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, polyamide exports rose slightly to $X in 2021. In general, exports, however, saw a abrupt shrinkage. The growth pace was the most rapid in 2014 when exports increased by 22% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Turkey (X tons), China (X tons) and Italy (X tons) were the main destinations of polyamide exports from Saudi Arabia, with a combined 53% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +51.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Turkey ($X), China ($X) and Italy ($X) appeared to be the largest markets for polyamide exported from Saudi Arabia worldwide, with a combined 53% share of total exports.

Among the main countries of destination, Italy, with a CAGR of +26.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average polyamide export price stood at $X per ton in 2021, declining by -4.2% against the previous year. Over the period under review, the export price showed a abrupt downturn. The most prominent rate of growth was recorded in 2013 an increase of 19%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a 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 Bahrain ($X per ton), while the average price for exports to the Philippines ($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 Singapore (-1.0%), while the prices for the other major destinations experienced a decline.

Polyamide Imports

Imports into Saudi Arabia

In 2021, imports of polyamides (in primary forms) into Saudi Arabia declined to X tons, which is down by -11.4% against 2020 figures. In general, imports continue to indicate a slight curtailment. The pace of growth appeared the most rapid in 2020 when imports increased by 69%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, polyamide imports rose notably to $X in 2021. Overall, imports, however, posted a pronounced increase. The pace of growth appeared the most rapid in 2020 when imports increased by 120%. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, the United States (X tons) constituted the largest polyamide supplier to Saudi Arabia, accounting for a 23% share of total imports. Moreover, polyamide imports from the United States exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. India (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+52.1% per year) and India (+6.6% per year).

In value terms, Japan ($X) constituted the largest supplier of polyamides (in primary forms) to Saudi Arabia, comprising 38% of total imports. The second position in the ranking was held by the United States ($X), with a 12% share of total imports. It was followed by South Korea, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value from Japan totaled +65.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.8% per year) and South Korea (+14.8% per year).

Import Prices by Country

In 2021, the average polyamide import price amounted to $X per ton, jumping by 27% against the previous year. Overall, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, polyamide import price increased by +89.4% against 2016 indices. The growth pace was the most rapid in 2020 when the average import price increased by 30% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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