Azerbaijan: Market for Plastics in Primary Forms 2024

Market Size for Plastics in Primary Forms in Azerbaijan

The Azerbaijani plastics in primary forms market dropped modestly to $X in 2023, standing approx. at the previous year. The market value 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 throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Production of Plastics in Primary Forms in Azerbaijan

In value terms, plastics in primary forms production rose sharply to $X in 2023 estimated in export price. Over the period under review, the total production indicated a pronounced 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, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Exports of Plastics in Primary Forms

Exports from Azerbaijan

Plastics in primary forms exports from Azerbaijan soared to X tons in 2023, picking up by X% against the previous year. Over the period under review, exports saw prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in the immediate term.

In value terms, plastics in primary forms exports skyrocketed to $X in 2023. Overall, exports enjoyed buoyant growth. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for plastics in primary forms exports from Azerbaijan, accounting for a X% share of total exports. Moreover, plastics in primary forms exports to Russia exceeded the volume sent to the second major destination, Turkey (X tons), twofold. Latvia (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual growth rate of volume to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Latvia (X% per year).

In value terms, Russia ($X) remains the key foreign market for plastics in primary formses exports from Azerbaijan, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by Latvia, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Latvia (X% per year).

Export Prices by Country

The average plastics in primary forms export price stood at $X per ton in 2023, declining by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Estonia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Cyprus (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastics in Primary Forms

Imports into Azerbaijan

In 2023, supplies from abroad of plastics in primary formses increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastics in primary forms imports totaled $X in 2023. In general, imports, however, recorded a mild downturn. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Iran (X tons), Russia (X tons) and Saudi Arabia (X tons) were the main suppliers of plastics in primary forms imports to Azerbaijan, together comprising X% of total imports. Turkey, the United States, South Korea, China and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastics in primary forms suppliers to Azerbaijan were Iran ($X), Turkey ($X) and Russia ($X), with a combined X% share of total imports.

Russia, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average plastics in primary forms import price stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the import price saw a mild decrease. The growth pace was the most rapid in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2022, and then reduced markedly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was China ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform