Polyethylene Market Overview in Middle East
In value terms, polyethylene production dropped notably to $ in 2019 estimated in export prices. The total production indicated a mild increase from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2010 with an increase of % y-o-y. The level of production peaked at $ in 2014; however, from 2015 to 2019, production failed to regain the momentum.
Saudi Arabia ( tonnes) remains the largest polyethylene producing country in the Middle East, accounting for % of total volume. Moreover, polyethylene production in Saudi Arabia exceeded the figures recorded by the second-largest producer, Iran ( tonnes), fourfold. Qatar ( tonnes) ranked third in terms of total production with a % share.
In Saudi Arabia, polyethylene production increased at an average annual rate of +% over the period from 2007-2019. In the other countries, the average annual rates were as follows: Iran (+% per year) and Qatar (+% per year).
The value of the polyethylene market in the Middle East declined to $ in 2019, with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the market value increased by % year-to-year. Over the period under review, the market hit record highs at $ in 2015; however, from 2016 to 2019, consumption failed to regain the momentum.
From 2007 to 2019, the most notable rate of growth in terms of polyethylene consumption, amongst the key consuming countries, was attained by Jordan, while polyethylene consumption for the other leaders experienced more modest paces of growth.
In value terms, Iran ($), Turkey ($) and Saudi Arabia ($) appeared to be the countries with the highest levels of market value in 2019, together accounting for % of the total market. These countries were followed by the United Arab Emirates, Israel, Jordan and Kuwait, which together accounted for a further %.
In terms of the main consuming countries, Jordan saw the highest growth rate of market size, over the period under review, while polyethylene market for the other leaders experienced more modest paces of growth.
The countries with the highest levels of polyethylene per capita consumption in 2019 were Saudi Arabia ( kg per person), Israel ( kg per person) and the United Arab Emirates ( kg per person).
From 2007 to 2019, the most notable rate of growth in terms of polyethylene per capita consumption, amongst the main consuming countries, was attained by Turkey, while polyethylene per capita consumption for the other leaders experienced more modest paces of growth.