Saudi Arabia: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in Saudi Arabia

In 2021, the Saudi market for polyethylene with a specific gravity of less than X, in primary forms increased by 1.5% to $X, rising for the second consecutive year after two years of decline. In general, the total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.6% 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 +2.0% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Polyethylene with a Specific Gravity of Less than X, in Primary Forms in Saudi Arabia

In value terms, production of polyethylene with a specific gravity of less than X, in primary forms expanded notably to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 15%. As a result, production reached the peak level of $X. From 2019 to 2021, production of growth failed to regain momentum.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports from Saudi Arabia

Exports of polyethylene with a specific gravity of less than X, in primary forms from Saudi Arabia declined to X tons in 2021, waning by -3.3% compared with 2020 figures. The total export volume increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when exports increased by 18%. Over the period under review, the exports of reached the peak figure at X tons in 2020, and then reduced slightly in the following year.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms skyrocketed to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Singapore (X tons), China (X tons) and the United Arab Emirates (X tons) were the main destinations of exports of polyethylene with a specific gravity of less than X, in primary forms from Saudi Arabia, together accounting for 39% of total exports. These countries were followed by Egypt, Turkey, Vietnam, Malaysia, Belgium, Jordan, Pakistan, India, Poland and Japan, which together accounted for a further 37%.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +47.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polyethylene with a specific gravity of less than X exported from Saudi Arabia were Singapore ($X), China ($X) and the United Arab Emirates ($X), together accounting for 37% of total exports. These countries were followed by Egypt, Turkey, Vietnam, Malaysia, Belgium, Jordan, Pakistan, India, Poland and Japan, which together accounted for a further 37%.

Japan, with a CAGR of +38.4%, saw the highest rates of growth with regard to 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

The average export price for polyethylene with a specific gravity of less than X, in primary forms stood at $X per ton in 2021, picking up by 49% against the previous year. Over the period under review, the export price, however, continues to indicate a slight contraction. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat 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 Turkey ($X per ton), while the average price for exports to Japan ($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 Turkey (-0.4%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports into Saudi Arabia

After two years of growth, supplies from abroad of polyethylene with a specific gravity of less than X, in primary forms decreased by -5.5% to X tons in 2021. Overall, imports saw a perceptible reduction. The pace of growth was the most pronounced in 2019 with an increase of 16% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms skyrocketed to $X in 2021. In general, imports recorded a pronounced downturn. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and the Netherlands (X tons) were the main suppliers of imports of polyethylene with a specific gravity of less than X, in primary forms to Saudi Arabia, with a combined 58% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +23.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), China ($X) and South Korea ($X) appeared to be the largest polyethylene with a specific gravity of less than X suppliers to Saudi Arabia, together comprising 56% of total imports. These countries were followed by the Netherlands, the United States, Germany, India, Sweden and Japan, which together accounted for a further 32%.

The Netherlands, with a CAGR of +24.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for polyethylene with a specific gravity of less than X, in primary forms stood at $X per ton in 2021, with an increase of 43% against the previous year. In general, 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 stood at a somewhat lower figure.

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 ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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