Saudi Arabia: Market for Polyethylene Glycols and Polyethers in Primary Forms 2024

Market Size for Polyethylene Glycols and Polyethers in Primary Forms in Saudi Arabia

In 2021, the Saudi polyethylene glycol and polyether market decreased by -42.2% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption, however, showed tangible growth. Over the period under review, the market hit record highs at $X in 2020, and then reduced markedly in the following year.

Production of Polyethylene Glycols and Polyethers in Primary Forms in Saudi Arabia

In value terms, polyethylene glycol and polyether production expanded remarkably to $X in 2021 estimated in export price. Overall, production showed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 271%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Polyethylene Glycols and Polyethers in Primary Forms

Exports from Saudi Arabia

In 2021, approx. X tons of polyethylene glycols and polyethers in primary forms were exported from Saudi Arabia; picking up by 68% against 2020. Over the period under review, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 577% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, polyethylene glycol and polyether exports surged to $X in 2021. In general, exports recorded a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 513%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

China (X tons), the United Arab Emirates (X tons) and Belgium (X tons) were the main destinations of polyethylene glycol and polyether exports from Saudi Arabia, with a combined 56% share of total exports. These countries were followed by India, Turkey, Singapore, Spain and Algeria, which together accounted for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +111.2%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Belgium ($X) and the United Arab Emirates ($X) constituted the largest markets for polyethylene glycol and polyether exported from Saudi Arabia worldwide, with a combined 54% share of total exports. India, Turkey, Singapore, Spain and Algeria lagged somewhat behind, together comprising a further 33%.

In terms of the main countries of destination, India, with a CAGR of +118.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average polyethylene glycol and polyether export price amounted to $X per ton, surging by 39% against the previous year. In general, export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Spain ($X per ton) and Belgium ($X per ton), while the average price for exports to China ($X per ton) and Algeria ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+21.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polyethylene Glycols and Polyethers in Primary Forms

Imports into Saudi Arabia

In 2021, purchases abroad of polyethylene glycols and polyethers in primary forms increased by 10% to X tons for the first time since 2015, thus ending a five-year declining trend. Over the period under review, imports, however, saw a slight decline. The growth pace was the most rapid in 2014 with an increase of 34% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, polyethylene glycol and polyether imports surged to $X in 2021. In general, imports recorded a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest polyethylene glycol and polyether supplier to Saudi Arabia, accounting for a 51% share of total imports. Moreover, polyethylene glycol and polyether imports from the Netherlands exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. South Korea (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands stood at +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.7% per year) and South Korea (+2.3% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of polyethylene glycols and polyethers in primary forms to Saudi Arabia, comprising 51% of total imports. The second position in the ranking was taken by South Korea ($X), with a 12% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands stood at +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+6.7% per year) and China (-6.3% per year).

Import Prices by Country

The average polyethylene glycol and polyether import price stood at $X per ton in 2021, with an increase of 43% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Germany ($X per ton), while the price for China ($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 (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :