GCC: Aluminum Market 2025

Aluminum Market Size in GCC

The GCC aluminum market rose notably to $X in 2021, picking up by 11% against the previous year. Over the period under review, consumption continues to indicate buoyant growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Aluminum Production in GCC

In value terms, aluminum production totaled $X in 2021 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.2% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 30% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Aluminum Exports

Exports in GCC

For the third consecutive year, GCC recorded growth in shipments abroad of aluminum, which increased by 20% to X tons in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +37.8% against 2017 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 27%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, aluminum exports soared to $X in 2021. Total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +9.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +66.2% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, the United Arab Emirates (X tons) represented the main exporter of aluminum, creating 69% of total exports. Bahrain (X tons) held an 18% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (8%) and Oman (4.9%).

From 2012 to 2021, average annual rates of growth with regard to aluminum exports from the United Arab Emirates stood at +7.5%. At the same time, Bahrain (+38.0%) and Saudi Arabia (+8.9%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of +38.0% from 2012-2021. By contrast, Oman (-3.3%) illustrated a downward trend over the same period. Bahrain (+16 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates and Oman saw its share reduced by -7% and -9.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest aluminum supplier in GCC, comprising 73% of total exports. The second position in the ranking was held by Bahrain ($X), with a 16% share of total exports. It was followed by Saudi Arabia, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at +8.8%. In the other countries, the average annual rates were as follows: Bahrain (+37.3% per year) and Saudi Arabia (+8.3% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, picking up by 26% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and Oman ($X per ton), while Saudi Arabia ($X per ton) and Bahrain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.2%), while the other leaders experienced a decline in the export price figures.

Aluminum Imports

Imports in GCC

In 2021, approx. X tons of aluminum were imported in GCC; with an increase of 28% on the year before. Overall, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2015 with an increase of 51%. The volume of import peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, aluminum imports surged to $X in 2021. In general, imports saw buoyant growth. The pace of growth appeared the most rapid in 2017 with an increase of 64%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

Saudi Arabia represented the largest importing country with an import of around X tons, which finished at 56% of total imports. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Oman (X tons) and Bahrain (X tons). All these countries together held approx. 42% share of total imports. Kuwait (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to aluminum imports into Saudi Arabia stood at +17.9%. At the same time, the United Arab Emirates (+19.5%), Oman (+12.5%) and Bahrain (+5.6%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in GCC, with a CAGR of +19.5% from 2012-2021. By contrast, Kuwait (-4.6%) illustrated a downward trend over the same period. Saudi Arabia (+11 p.p.) and the United Arab Emirates (+7.8 p.p.) significantly strengthened its position in terms of the total imports, while Oman, Bahrain and Kuwait saw its share reduced by -2.1%, -6.9% and -7.4% from 2012 to 2021, respectively.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported aluminum in GCC, comprising 58% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 25% share of total imports. It was followed by Oman, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia amounted to +19.3%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+15.4% per year) and Oman (+11.1% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, shrinking by -8.5% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by 39% against the previous year. As a result, import price reached the peak level of $X per ton, and then declined in the following year.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Kuwait ($X per ton) and Saudi Arabia ($X per ton), while Bahrain ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+4.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform