Bahrain: Nucleic Acid Market 2024

Nucleic Acid Market Size in Bahrain

In 2022, the Bahraini nucleic acid market increased by 21% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, showed a deep contraction. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Nucleic Acid Exports

Exports from Bahrain

In 2022, shipments abroad of nucleic acids and their salts increased by 32% to X kg for the first time since 2018, thus ending a three-year declining trend. Overall, exports enjoyed strong growth. The pace of growth was the most pronounced in 2015 with an increase of 659% against the previous year. As a result, the exports attained the peak of X kg. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, nucleic acid exports soared to $X in 2022. In general, exports posted buoyant growth. The pace of growth was the most pronounced in 2015 when exports increased by 364%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X kg) was the main destination for nucleic acid exports from Bahrain, accounting for a 407% share of total exports. Moreover, nucleic acid exports to China exceeded the volume sent to the second major destination, Kuwait (X kg), fourfold. South Korea (X kg) ranked third in terms of total exports with a 21% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled +92.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+12.4% per year) and South Korea (+33.5% per year).

In value terms, Kuwait ($X) remains the key foreign market for nucleic acids and their salts exports from Bahrain, comprising 68% of total exports. The second position in the ranking was held by China ($X), with a 21% share of total exports. It was followed by the United States, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value to Kuwait amounted to +8.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+89.9% per year) and the United States (-11.6% per year).

Export Prices by Country

The average nucleic acid export price stood at $X per ton in 2022, shrinking by -7.7% against the previous year. Over the period under review, the export price continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 when the average export price increased by 85%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+15.5%), while the prices for the other major destinations experienced a decline.

Nucleic Acid Imports

Imports into Bahrain

In 2022, supplies from abroad of nucleic acids and their salts increased by 23% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, saw a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 93%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, nucleic acid imports surged to $X in 2022. Over the period under review, imports, however, recorded a pronounced slump. The pace of growth was the most pronounced in 2019 when imports increased by 109% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United States (X kg), Belgium (X kg) and the United Arab Emirates (X kg) were the main suppliers of nucleic acid imports to Bahrain, with a combined 89% share of total imports. These countries were followed by China, Ireland, India and Saudi Arabia, which together accounted for a further 22%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +60.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest nucleic acid suppliers to Bahrain were the United States ($X), Belgium ($X) and the United Arab Emirates ($X), with a combined 76% share of total imports. These countries were followed by Ireland, China, India and Saudi Arabia, which together accounted for a further 18%.

Ireland, with a CAGR of +36.9%, recorded the highest rates of growth with regard to 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

In 2022, the average nucleic acid import price amounted to $X per ton, stabilizing at the previous year. Overall, the import price, however, posted resilient growth. The growth pace was the most rapid in 2013 when the average import price increased by 98% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ireland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+10.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform