Middle East: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in the Middle East

In 2023, the Middle Eastern polyethylene in primary forms market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. The total consumption indicated tangible 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, consumption increased by X% against 2019 indices. Over the period under review, the market hit record highs at $X in 2022, and then fell in the following year.

Production of Polyethylene in Primary Forms in the Middle East

In value terms, polyethylene in primary forms production rose rapidly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Exports of Polyethylene in Primary Forms

Exports in the Middle East

In 2023, overseas shipments of polyethylene in primary forms were finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

In value terms, polyethylene in primary forms exports amounted to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Saudi Arabia represented the main exporter of polyethylene in primary forms in the Middle East, with the volume of exports recording X tons, which was near X% of total exports in 2023. Iran (X tons) ranks second in terms of the total exports with a X% share, followed by the United Arab Emirates (X%). The following exporters - Kuwait (X tons) and Turkey (X tons) - together made up X% of total exports.

Saudi Arabia experienced a relatively flat trend pattern with regard to volume of exports of polyethylene in primary forms. At the same time, the United Arab Emirates (X%), Turkey (X%) and Iran (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. By contrast, Kuwait (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the United Arab Emirates and Iran increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest polyethylene in primary forms supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($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 was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Iran (X% per year).

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, declining by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2023, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and Saudi Arabia ($X per ton), while Turkey ($X per ton) and Kuwait ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Imports of Polyethylene in Primary Forms

Imports in the Middle East

In 2023, the amount of polyethylene in primary forms imported in the Middle East surged to X tons, with an increase of X% against 2022 figures. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, polyethylene in primary forms imports declined to $X in 2023. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, Turkey (X tons) represented the key importer of polyethylene in primary forms, constituting X% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a X% share, followed by Israel (X%) and Jordan (X%). Oman (X tons), Iraq (X tons), Saudi Arabia (X tons) and Yemen (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to polyethylene in primary forms imports into Turkey stood at X%. At the same time, Iraq (X%), Yemen (X%), the United Arab Emirates (X%), Oman (X%) and Jordan (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. By contrast, Israel (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. Turkey (X p.p.), Iraq (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total imports, while Israel and Saudi Arabia saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported polyethylene in primary forms in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Israel, with a X% share.

In Turkey, polyethylene in primary forms imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Israel (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2023, which is down by X% against the previous year. Overall, the import price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Yemen (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform