Saudi Arabia: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in Saudi Arabia

In 2021, the Saudi polyethylene in primary forms market increased by 46% to $X, rising for the second year in a row after three years of decline. Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +48.3% against 2019 indices. Polyethylene in primary forms consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Production of Polyethylene in Primary Forms in Saudi Arabia

In value terms, polyethylene in primary forms production rose markedly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 9.8%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Exports of Polyethylene in Primary Forms

Exports from Saudi Arabia

In 2021, overseas shipments of polyethylene in primary forms decreased by -4.6% to X tons, falling for the second consecutive year after four years of growth. The total export volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 15%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, polyethylene in primary forms exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons), Singapore (X tons) and Turkey (X tons) were the main destinations of polyethylene in primary forms exports from Saudi Arabia, with a combined 33% share of total exports. The United Arab Emirates, Vietnam, Malaysia, Pakistan, Egypt, Belgium, India and Nigeria lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nigeria (with a CAGR of +18.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polyethylene in primary forms exported from Saudi Arabia were China ($X), Singapore ($X) and Vietnam ($X), with a combined 30% share of total exports. Turkey, the United Arab Emirates, Egypt, Malaysia, Pakistan, India, Belgium and Nigeria lagged somewhat behind, together comprising a further 24%.

In terms of the main countries of destination, Nigeria, with a CAGR of +12.8%, saw the highest growth rate of 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 in primary forms export price amounted to $X per ton, picking up by 45% against the previous year. In general, the export price, however, showed a mild decrease. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Nigeria ($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 Vietnam (+3.1%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene in Primary Forms

Imports into Saudi Arabia

After two years of growth, overseas purchases of polyethylene in primary forms decreased by -15.1% to X tons in 2021. Over the period under review, imports continue to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 30%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, polyethylene in primary forms imports expanded sharply to $X in 2021. In general, imports saw a pronounced descent. The pace of growth appeared the most rapid in 2019 when imports increased by 14%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest polyethylene in primary forms supplier to Saudi Arabia, accounting for a 42% share of total imports. Moreover, polyethylene in primary forms imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates stood at +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.6% per year) and the United States (+8.5% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of polyethylene in primary forms to Saudi Arabia, comprising 37% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by Germany, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates totaled +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.5% per year) and Germany (-6.1% per year).

Import Prices by Country

The average polyethylene in primary forms import price stood at $X per ton in 2021, growing by 29% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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