GCC: Market for Reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment 2024

Market Size for Reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment in GCC

The GCC market for reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment dropped to $X in 2022, declining by -12.2% against the previous year. In general, consumption, however, saw buoyant growth. Over the period under review, the market attained the maximum level at $X in 2021, and then reduced in the following year.

Production of Reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment in GCC

In value terms, production of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment stood at $X in 2022 estimated in export price. Overall, production showed significant growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by 326%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment

Exports in GCC

In 2022, overseas shipments of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment increased by 79% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2013 when exports increased by 144% against the previous year. Over the period under review, the exports of reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment surged to $X in 2022. In general, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2013 with an increase of 199% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia was the main exporter of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment in GCC, with the volume of exports recording X tons, which was approx. 68% of total exports in 2022. It was distantly followed by Oman (X tons) and the United Arab Emirates (X tons), together achieving a 31% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment exports, with a CAGR of +19.7% from 2012 to 2022. The United Arab Emirates (-13.1%) and Oman (-21.3%) illustrated a downward trend over the same period. Saudi Arabia (+64 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates and Oman saw its share reduced by -9% and -50% from 2012 to 2022, respectively.

In value terms, the largest reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), with a combined 98% share of total exports.

Saudi Arabia, with a CAGR of +11.4%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, shrinking by -13.6% against the previous year. Over the period under review, the export price, however, continues to indicate a measured increase. The pace of growth was the most pronounced in 2020 when the export price increased by 73% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($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 (+7.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment

Imports in GCC

In 2022, imports of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment in GCC declined dramatically to X tons, reducing by -33.3% against the year before. Over the period under review, imports faced a dramatic slump. The growth pace was the most rapid in 2020 with an increase of 478%. Over the period under review, imports of hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment contracted markedly to $X in 2022. Overall, imports faced a precipitous descent. The growth pace was the most rapid in 2020 when imports increased by 281%. Over the period under review, imports of attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the main importer of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment in GCC, with the volume of imports reaching X tons, which was near 81% of total imports in 2022. It was distantly followed by Oman (X tons), comprising a 15% share of total imports. The following importers - Kuwait (X tons) and Bahrain (X tons) - each amounted to a 3.6% share of total imports.

Imports into the United Arab Emirates decreased at an average annual rate of -17.7% from 2012 to 2022. Kuwait (-6.0%), Bahrain (-12.5%) and Oman (-27.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates and Kuwait increased by +60 and +1.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment in GCC, comprising 73% of total imports. The second position in the ranking was taken by Oman ($X), with a 23% share of total imports. It was followed by Kuwait, with a 2% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to -20.0%. In the other countries, the average annual rates were as follows: Oman (-21.3% per year) and Kuwait (-6.4% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with an increase of 25% against the previous year. Import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment decreased by -6.8% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 77%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+8.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform