The demand for non-cellular polyethylene films, sheets, foil, and strips in the Gulf Cooperation Council (GCC) region is witnessing sustained growth, as detailed in a recent report by IndexBox. The market is projected to experience notable expansion, with a compound annual growth rate (CAGR) of 2.8% in volume and 4.3% in value from 2024 to 2035, culminating in an expected market volume of 1.1 million tons and a value of $2.8 billion by the end of that period.
Market Growth Projections
The GCC region’s non-cellular polyethylene market is anticipated to continue its upward trajectory in the upcoming decade. The projected growth, with a CAGR of 2.8% in volume, suggests that consumption will accelerate, reaching 1.1 million tons by 2035. On the financial front, the market’s value is set to grow at a CAGR of 4.3%, leading to an expected value of $2.8 billion, based on nominal wholesale prices.
Current Consumption Landscape
In 2024, the total consumption of non-cellular polyethylene films in the GCC was recorded at 843,000 tons, showing stability compared to the previous year. From 2013 to 2024, average annual growth was noted at 2.1%, although fluctuations were evident during certain years. Consumption peaked at 894,000 tons in 2022, but saw a decline in momentum from 2023 to 2024.
Value of the Market
The market value shrank significantly to $1.7 billion in 2024, marking a 15.4% drop from the previous year. This reduction in value is reflective of the total revenues accrued by producers and importers, excluding logistics and retail costs. Between 2013 and 2024, the market value exhibited an average annual growth rate of 2.3%, fluctuating notably during some years. The peak market value of $2.1 billion was achieved in 2023 before the decline.
Country-Specific Consumption Insights
Saudi Arabia stands out as the largest consumer of non-cellular polyethylene films, consuming 510,000 tons in 2024, which accounts for 60% of the total market share. The United Arab Emirates follows as the second-largest consumer at 152,000 tons, with Oman trailing at 80,000 tons. Over the examined period, Saudi Arabia’s consumption grew at an average annual rate of 2.2%, while the UAE and Oman recorded rates of growth at 0.8% and 3.9%, respectively.
From a value perspective, Saudi Arabia led the market with a valuation of $855 million, followed by the UAE at $402 million. Oman also contributed significantly to the regional value.
When assessing per capita consumption in 2024, Kuwait led the way with 18 kg per person, followed by the UAE and Oman, each at 15 kg per person. Among the main consumers, Oman reported the most substantial growth rate in consumption over the reviewed timeline, averaging a CAGR of 0.4%.
Production Trends
The production of non-cellular polyethylene films across the GCC expanded to 967,000 tons in 2024, reflecting an increase of 8.6% compared to the previous year. From 2013 to 2024, production volume demonstrated a steady annual growth of 2.3%, despite notable fluctuations.
In terms of value, production values plummeted to $1.9 billion in 2024, down from a peak of $2.3 billion in 2023. The production value registered an average annual growth rate of 2.4% throughout the analyzed years, exhibiting fluctuation patterns.
Breakdown by Country
Saudi Arabia is the dominant force in production, generating 655,000 tons in 2024, which constitutes 68% of the total production in the region. The UAE and Oman follow, producing 149,000 tons and 72,000 tons, respectively. Saudi Arabia’s production growth rate averaged 2.7% yearly from 2013 to 2024, contrasting with the UAE’s modest 0.3% growth and Oman’s 3.2%.
Import Dynamics
After several years of growth, GCC imports of non-cellular polyethylene films decreased by 6.2% to 72,000 tons in 2024. Despite this drop, total imports increased at an average annual rate of 5.7% from 2013 to 2024, with year-on-year fluctuations evident throughout the period.
In monetary terms, the imports decreased to $213 million in 2024, following a peak of $239 million in 2023. Overall, imports have shown a tangible rise over the past eleven years, with the most significant growth being recorded in 2021.
Importing Countries
The United Arab Emirates emerged as the leading importer in 2024, importing 32,000 tons, which is 45% of total imports. Saudi Arabia followed with 18,000 tons, while Oman and Kuwait accounted for 9,500 tons and 7,900 tons, respectively. Together, these four nations comprised around 50% of total imports.
Over the timeframe from 2013 to 2024, Kuwait experienced the highest growth rate in imports, with a CAGR of 8.9%, while other leading countries showed more modest growth. In terms of value, the UAE ($90 million), Saudi Arabia ($59 million), and Oman ($29 million) were the top importers, combined representing 83% of the total import value.
Import Price Trends
The average import price in the GCC for 2024 was $2,977 per ton, down 4.9% from the previous year. Generally, import prices have experienced mild declines since reaching a peak of $3,657 per ton in 2014. Among major importing nations, Saudi Arabia presented the highest average price at $3,242 per ton, while Bahrain was among the lowest at $1,617 per ton.
Export Overview
GCC exports of non-cellular polyethylene films surged to 195,000 tons in 2024, representing a significant increase of 57% compared to 2023 figures. This growth follows an overall average annual rate of 4.2% from 2013 to 2024, although fluctuations were recorded throughout the years.
Export Value Insights
In terms of monetary value, GCC exports contracted to $332 million in 2024. This represents a notable increase from previous years, with peak levels hitting $466 million in 2022. The growth rate was particularly high in 2021 when exports jumped by 55% year-on-year.
Leading Exporting Nations
Saudi Arabia was the standout exporter in 2024, with 164,000 tons, accounting for 84% of total exports. The United Arab Emirates followed with 29,000 tons, holding a 15% share. Saudi Arabia’s production growth rate from 2013 to 2024 averaged 4.7%, while the UAE experienced a more modest increase of 2.8%.
In value terms, Saudi Arabia dominated the export market, valued at $244 million in 2024, equating to 74% of total exports. The UAE followed with $79 million, constituting a 24% share.
Export Price Trends
By 2024, the export price stood at $1,701 per ton, reflecting a significant drop of 45.4% compared to the previous year. In general, export prices showed a relatively stable trend but peaked at $3,116 per ton in 2023 before the dramatic decline the following year.
Among exporting countries, the UAE had the highest export price at $2,732 per ton, whereas Saudi Arabia’s average stood at $1,493 per ton. Over the period from 2013 to 2024, the UAE also recorded the most significant growth in export prices at 1.3%.
As the market for non-cellular polyethylene continues to develop, the GCC region is poised for growth with steady increases in both consumption and production anticipated through 2035.
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