GCC: Aluminium Hydroxide Market 2024

Aluminium Hydroxide Market Size in GCC

In 2022, the GCC aluminium hydroxide market decreased by -10.1% to $X, falling for the fourth consecutive year after seven years of growth. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -23.9% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Aluminium Hydroxide Production in GCC

In value terms, aluminium hydroxide production expanded sharply to $X in 2022 estimated in export price. The total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.6% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 53% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Aluminium Hydroxide Exports

Exports in GCC

In 2022, approx. X tons of aluminium hydroxide were exported in GCC; with a decrease of -17.9% against the year before. Overall, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2019 with an increase of 592% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, aluminium hydroxide exports reduced notably to $X in 2022. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 514%. Over the period under review, the exports reached the maximum at $X in 2021, and then declined significantly in the following year.

Exports by Country

Saudi Arabia prevails in exports structure, amounting to X tons, which was approx. 90% of total exports in 2022. It was distantly followed by Bahrain (X tons), achieving a 6.1% share of total exports. The United Arab Emirates (X tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to aluminium hydroxide exports from Saudi Arabia stood at +60.5%. At the same time, Bahrain (+267.5%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of +267.5% from 2012-2022. By contrast, the United Arab Emirates (-5.2%) illustrated a downward trend over the same period. Saudi Arabia (+79 p.p.) and Bahrain (+6.1 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -85.2% from 2012 to 2022, respectively.

In value terms, Saudi Arabia ($X) remains the largest aluminium hydroxide supplier in GCC, comprising 95% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 3.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia amounted to +56.3%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-4.5% per year) and Bahrain (+176.4% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, declining by -13.7% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the export price increased by 33%. Over the period under review, the export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.7%), while the other leaders experienced a decline in the export price figures.

Aluminium Hydroxide Imports

Imports in GCC

In 2022, approx. X tons of aluminium hydroxide were imported in GCC; waning by -77.1% compared with the previous year. Overall, imports showed a deep contraction. The pace of growth appeared the most rapid in 2014 when imports increased by 148%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, aluminium hydroxide imports plummeted to $X in 2022. In general, imports saw a abrupt slump. The growth pace was the most rapid in 2014 with an increase of 51% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates prevails in imports structure, amounting to X tons, which was approx. 95% of total imports in 2022. Oman (X tons) held a relatively small share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the aluminium hydroxide imports, with a CAGR of +11.1% from 2012 to 2022. Oman (-2.9%) illustrated a downward trend over the same period. The United Arab Emirates (+82 p.p.) and Oman (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported aluminium hydroxide in GCC, comprising 93% of total imports. The second position in the ranking was held by Oman ($X), with a 3.7% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +11.5%.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, picking up by 25% against the previous year. Over the period under review, the import price posted a moderate increase. The pace of growth appeared the most rapid in 2020 when the import price increased by 47% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+2.6%).

Source: IndexBox Platform