Saudi Arabia: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Saudi Arabia

After five years of growth, the Saudi plastic ornamental articles market decreased by 99.9% to less than $X in 2022. Overall, consumption, however, posted a buoyant increase. Over the period under review, the market hit record highs at $X in 2021, and then fell notably in the following year.

Plastic Ornamental Articles Production in Saudi Arabia

In value terms, plastic ornamental articles production totaled $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. Over the period under review, production hit record highs in 2022 and is likely to see gradual growth in the near future.

Plastic Ornamental Articles Exports

Exports from Saudi Arabia

In 2022, shipments abroad of statuettes and other ornamental articles of plastic decreased by -27.5% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2017 when exports increased by 366% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic ornamental articles exports shrank rapidly to $X in 2022. Overall, exports, however, continue to indicate a moderate expansion. The growth pace was the most rapid in 2017 when exports increased by 699%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Bahrain (X tons) was the main destination for plastic ornamental articles exports from Saudi Arabia, accounting for a 46% share of total exports. Moreover, plastic ornamental articles exports to Bahrain exceeded the volume sent to the second major destination, Denmark (X tons), fivefold. The third position in this ranking was held by Germany (X tons), with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bahrain totaled +17.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+287.7% per year) and Germany (+90.7% per year).

In value terms, the largest markets for plastic ornamental articles exported from Saudi Arabia were Bahrain ($X), Germany ($X) and France ($X), with a combined 58% share of total exports. The Netherlands, Denmark, Portugal and India lagged somewhat behind, together comprising a further 4.8%.

Among the main countries of destination, Denmark, with a CAGR of +164.4%, 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

The average plastic ornamental articles export price stood at $X per ton in 2022, rising by 17% against the previous year. In general, the export price posted resilient growth. The growth pace was the most rapid in 2014 when the average export price increased by 77%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, 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 Germany ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+23.7%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports into Saudi Arabia

In 2021, approx. X tons of statuettes and other ornamental articles of plastic were imported into Saudi Arabia; picking up by 30% on 2020 figures. Overall, imports posted resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 50%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, plastic ornamental articles imports skyrocketed to $X in 2021. In general, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 67%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main supplier of plastic ornamental articles to Saudi Arabia, accounting for a approx. 95% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +6.1%.

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to Saudi Arabia.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +13.6%.

Import Prices by Country

In 2021, the average plastic ornamental articles import price amounted to $X per ton, surging by 12% against the previous year. Overall, import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, plastic ornamental articles import price increased by +63.3% against 2016 indices. The growth pace was the most rapid in 2017 an increase of 22% against the previous year. The import price peaked in 2021 and is likely to continue growth in the near future.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +7.0% per year.

Source: IndexBox Platform

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