Over the past decade, the import of Polymers of Propylene to Saudi Arabia has experienced fluctuating trends. From 2013 to 2017, there was a general decline until a rebound of 10.29% in 2017. Another period of moderate growth from 2018 to 2019 was interrupted by a notable drop in 2020. The value then increased sharply by 16.74% in 2021 and continued to rise steadily up to 126.8 million USD in 2023, reflecting a modest annual increase of 1.84% from the previous year. The five-year CAGR leading up to 2023 stands at 1.76%.
Looking ahead, the forecast from 2024 to 2028 predicts a steady increase in the import value, with an average annual growth rate (CAGR) of 1.44%. This consistent uptrend is projected to culminate in a total value of 138.44 million USD by 2028, representing a forecasted 7.41% growth rate over this period.
Future trends to watch for include potential impacts of global supply chain dynamics, the adoption of cutting-edge technologies in polymer production, and evolving trade policies. Monitoring these factors will be crucial for anticipating market shifts and making informed strategic decisions.
