United Arab Emirates: Polyurethanes Market 2024

Polyurethanes Market Size in the United Arab Emirates

The polyurethanes market in the United Arab Emirates surged to $X in 2021, with an increase of 170% against the previous year. In general, consumption continues to indicate prominent growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Polyurethanes Production in the United Arab Emirates

In value terms, polyurethanes production rose remarkably to $X in 2021 estimated in export price. In general, production showed a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of 164%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Polyurethanes Exports

Exports from the United Arab Emirates

In 2021, overseas shipments of polyurethanes in primary forms decreased by -25.2% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports, however, showed a noticeable increase. The pace of growth was the most pronounced in 2015 with an increase of 161% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, polyurethanes exports contracted slightly to $X in 2021. In general, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of 112%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Oman (X tons), Saudi Arabia (X tons) and Jordan (X tons) were the main destinations of polyurethanes exports from the United Arab Emirates, with a combined 58% share of total exports. Angola, Nigeria, Pakistan, India, Greece, Tunisia, Tajikistan and Ethiopia lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2021, the biggest increases were recorded for Tunisia (with a CAGR of +144.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polyurethanes exported from the United Arab Emirates were Oman ($X), Saudi Arabia ($X) and Jordan ($X), together comprising 55% of total exports. These countries were followed by Angola, Nigeria, India, Pakistan, Tunisia, Greece, Ethiopia and Tajikistan, which together accounted for a further 23%.

In terms of the main countries of destination, Tunisia, with a CAGR of +153.1%, recorded 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 polyurethanes export price stood at $X per ton in 2021, increasing by 31% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.1%. 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 Jordan ($X per ton), while the average price for exports to Tajikistan ($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 Iran (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.

Polyurethanes Imports

Imports into the United Arab Emirates

In 2021, supplies from abroad of polyurethanes in primary forms increased by 130% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, total imports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, polyurethanes imports soared to $X in 2021. Over the period under review, total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of polyurethanes to the United Arab Emirates, accounting for a 36% share of total imports. Moreover, polyurethanes imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The third position in this ranking was taken by Italy (X tons), with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +50.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.5% per year) and Italy (-3.0% per year).

In value terms, China ($X) constituted the largest supplier of polyurethanes in primary forms to the United Arab Emirates, comprising 31% of total imports. The second position in the ranking was taken by Germany ($X), with an 11% share of total imports. It was followed by Spain, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +50.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.7% per year) and Spain (-2.4% per year).

Import Prices by Country

In 2021, the average polyurethanes import price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 22% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a 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 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 Singapore (+1.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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