MENA: Market for Plastics in Primary Forms 2024

Market Size for Plastics in Primary Forms in MENA

The MENA's plastics in primary forms market reduced slightly to $X in 2023, almost unchanged from the previous year. The total consumption indicated measured growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Production of Plastics in Primary Forms in MENA

In value terms, plastics in primary forms production rose notably to $X in 2023 estimated in export price. In general, production, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Exports of Plastics in Primary Forms

Exports in MENA

Plastics in primary forms exports soared to X tons in 2023, increasing by X% against 2022. Total exports indicated a perceptible expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. Over the period under review, the exports reached the peak figure at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, plastics in primary forms exports skyrocketed to $X in 2023. Total exports indicated perceptible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. Over the period under review, the exports hit record highs at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

Saudi Arabia represented the key exporter of plastics in primary formses in MENA, with the volume of exports amounting to X tons, which was near X% of total exports in 2023. The United Arab Emirates (X tons) took the second position in the ranking, followed by Iran (X tons) and Turkey (X tons). All these countries together took near X% share of total exports. Egypt (X tons), Kuwait (X tons) and Oman (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to plastics in primary forms exports from Saudi Arabia stood at X%. At the same time, Turkey (X%), Egypt (X%), the United Arab Emirates (X%), Iran (X%) and Oman (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2023. By contrast, Kuwait (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.), Turkey (X p.p.) and Iran (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Kuwait (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) emerged as the largest plastics in primary forms supplier in MENA, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Iran, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Saudi Arabia totaled X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Iran (X% per year).

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, declining by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2022, and then declined in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Turkey ($X per ton) and Kuwait ($X per ton), while Oman ($X per ton) and Iran ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Plastics in Primary Forms

Imports in MENA

In 2023, imports of plastics in primary formses in MENA expanded remarkably to X tons, increasing by X% against 2022. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, imports reached the peak figure at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, plastics in primary forms imports shrank to $X in 2023. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Turkey represented the major importing country with an import of around X tons, which recorded X% of total imports. Egypt (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (X%) and Morocco (X%). Algeria (X tons), Israel (X tons), Iran (X tons), Saudi Arabia (X tons), Jordan (X tons), Tunisia (X tons), Oman (X tons) and Iraq (X tons) held a relatively small share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, Iraq (X%), Egypt (X%), Oman (X%) and Morocco (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. The United Arab Emirates, Tunisia, Jordan and Algeria experienced a relatively flat trend pattern. By contrast, Israel (X%), Iran (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Turkey and Egypt increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported plastics in primary formses in MENA, comprising X% of total imports. The second position in the ranking was taken by Egypt ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

In Turkey, plastics in primary forms imports remained relatively stable over the period from 2012-2023. In the other countries, the average annual rates were as follows: Egypt (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, reducing by X% against the previous year. In general, the import price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2022, and then fell sharply in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Saudi Arabia ($X per ton) and Iran ($X per ton), while Turkey ($X per ton) and Egypt ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Tunisia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform