GCC: Market for Polyesters in Primary Forms (excluding Polyacetals, Polyethers, Epoxide Resins, Polycarbonates, Alkyd Resins, Polyethylene Terephthalate, other Unsaturated Polyesters) 2024

Market Size for Polyesters in Primary Forms (excluding Polyacetals, Polyethers, Epoxide Resins, Polycarbonates, Alkyd Resins, Polyethylene Terephthalate, other Unsaturated Polyesters) in GCC

The GCC polyesters in primary forms market rose to $X in 2023, with an increase of X% against the previous year. The total consumption indicated buoyant 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 failed to regain momentum.

Production of Polyesters in Primary Forms (excluding Polyacetals, Polyethers, Epoxide Resins, Polycarbonates, Alkyd Resins, Polyethylene Terephthalate, other Unsaturated Polyesters) in GCC

In value terms, polyesters in primary forms production rose 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 2016 with an increase of X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Exports of Polyesters in Primary Forms (excluding Polyacetals, Polyethers, Epoxide Resins, Polycarbonates, Alkyd Resins, Polyethylene Terephthalate, other Unsaturated Polyesters)

Exports in GCC

In 2023, overseas shipments of polyesters in primary forms (excluding polyacetals, polyethers, epoxide resins, polycarbonates, alkyd resins, polyethylene terephthalate, other unsaturated polyesters) were finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, polyesters in primary forms exports skyrocketed to $X in 2023. Overall, exports, however, continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) prevails in exports structure, together constituting X% of total exports. The following exporters - Oman (X tons) and Bahrain (X tons) - each reached a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Bahrain (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the largest polyesters in primary forms supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

In the United Arab Emirates, polyesters in primary forms exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Oman (X% per year).

Export Prices by Country

In 2023, the export price in GCC amounted to $X per ton, dropping by X% against the previous year. Export price indicated a perceptible expansion from 2012 to 2023: its price 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, polyesters in primary forms export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

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

Imports of Polyesters in Primary Forms (excluding Polyacetals, Polyethers, Epoxide Resins, Polycarbonates, Alkyd Resins, Polyethylene Terephthalate, other Unsaturated Polyesters)

Imports in GCC

In 2023, the amount of polyesters in primary forms (excluding polyacetals, polyethers, epoxide resins, polycarbonates, alkyd resins, polyethylene terephthalate, other unsaturated polyesters) imported in GCC soared to X tons, rising by X% on 2022 figures. In general, imports saw a strong increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, polyesters in primary forms imports surged to $X in 2023. Total imports indicated a moderate increase 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, imports decreased by X% against 2021 indices. 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 remained at a lower figure.

Imports by Country

Bahrain represented the major importer of polyesters in primary forms (excluding polyacetals, polyethers, epoxide resins, polycarbonates, alkyd resins, polyethylene terephthalate, other unsaturated polyesters) in GCC, with the volume of imports recording X tons, which was approx. X% of total imports in 2023. The United Arab Emirates (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Saudi Arabia (X%). Kuwait (X tons) followed a long way behind the leaders.

Bahrain was also the fastest-growing in terms of the polyesters in primary forms (excluding polyacetals, polyethers, epoxide resins, polycarbonates, alkyd resins, polyethylene terephthalate, other unsaturated polyesters) imports, with a CAGR of X% from 2012 to 2023. At the same time, Kuwait (X%) displayed positive paces of growth. By contrast, the United Arab Emirates (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. Bahrain (X p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia and the United Arab Emirates 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, the largest polyesters in primary forms importing markets in GCC were Bahrain ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), together comprising X% of total imports.

Bahrain, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per ton in 2023, with a decrease of X% against the previous year. Overall, the import price recorded a noticeable contraction. The pace of growth appeared the most rapid in 2020 an increase of X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Bahrain ($X per ton) was 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 import price figures.

Source: IndexBox Platform