United Arab Emirates: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in the United Arab Emirates

In 2022, the plastic reservoir market in the United Arab Emirates increased by 67% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption enjoyed resilient growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Plastic Reservoir Exports

Exports from the United Arab Emirates

In 2022, approx. X tons of plastic reservoirs, tanks and vats were exported from the United Arab Emirates; which is down by -77.2% on the previous year's figure. In general, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by 162%. As a result, the exports attained the peak of X tons, and then contracted dramatically in the following year.

In value terms, plastic reservoir exports dropped notably to $X in 2022. Overall, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 161%. As a result, the exports reached the peak of $X, and then declined notably in the following year.

Exports by Country

India (X tons) was the main destination for plastic reservoir exports from the United Arab Emirates, accounting for a 58% share of total exports. Moreover, plastic reservoir exports to India exceeded the volume sent to the second major destination, the United States (X tons), fourfold. Morocco (X tons) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume to India amounted to +184.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+32.7% per year) and Morocco (+193.8% per year).

In value terms, Morocco ($X) emerged as the key foreign market for plastic reservoirs, tanks and vats exports from the United Arab Emirates, comprising 65% of total exports. The second position in the ranking was taken by India ($X), with a 20% share of total exports. It was followed by the United States, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value to Morocco stood at +890.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+176.8% per year) and the United States (+31.6% per year).

Export Prices by Country

In 2022, the average plastic reservoir export price amounted to $X per ton, rising by 204% against the previous year. Over the period under review, the export price showed a buoyant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Morocco ($X per ton), while the average price for exports to Brazil ($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 Morocco (+237.3%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Reservoir Imports

Imports into the United Arab Emirates

Plastic reservoir imports into the United Arab Emirates fell to X tons in 2022, waning by -6.3% compared with 2021. Overall, total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -36.7% against 2019 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 86%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, plastic reservoir imports shrank to $X in 2022. In general, total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -29.3% against 2019 indices. The growth pace was the most rapid in 2019 when imports increased by 66% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Germany (X tons), South Korea (X tons) and China (X tons) were the main suppliers of plastic reservoir imports to the United Arab Emirates, together accounting for 50% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +26.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), South Korea ($X) and China ($X) were the largest plastic reservoir suppliers to the United Arab Emirates, with a combined 49% share of total imports. Japan, Bahrain and the United States lagged somewhat behind, together comprising a further 4.9%.

In terms of the main suppliers, Bahrain, with a CAGR of +36.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average plastic reservoir import price amounted to $X per ton, approximately equating the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 20%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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