GCC: Amine-Function Compounds Market 2024

Amine-Function Compounds Market Size in GCC

In 2021, the GCC amine-function compounds market increased by 8.9% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption enjoyed prominent growth. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Amine-Function Compounds Production in GCC

In value terms, amine-function compounds production rose significantly to $X in 2021 estimated in export price. Over the period under review, production saw a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 30%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Amine-Function Compounds Exports

Exports in GCC

In 2021, shipments abroad of amine-function compounds was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2017 when exports increased by 91%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, amine-function compounds exports skyrocketed to $X in 2021. Overall, exports saw a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 69% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia prevails in exports structure, accounting for X tons, which was near 93% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), generating a 7.2% share of total exports.

Exports from Saudi Arabia increased at an average annual rate of +9.1% from 2012 to 2021. At the same time, the United Arab Emirates (+23.4%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of +23.4% from 2012-2021. While the share of the United Arab Emirates (+4.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-4.5 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest amine-function compounds supplier in GCC, comprising 95% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 4.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Saudi Arabia totaled +12.5%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, increasing by 36% against the previous year. Export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, amine-function compounds export price increased by +86.2% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.1%).

Amine-Function Compounds Imports

Imports in GCC

In 2021, approx. X tons of amine-function compounds were imported in GCC; jumping by 24% against the previous year. Overall, imports saw buoyant growth. The pace of growth appeared the most rapid in 2020 with an increase of 43% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, amine-function compounds imports surged to $X in 2021. Total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +76.7% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates dominates imports structure, amounting to X tons, which was near 86% of total imports in 2021. Saudi Arabia (X tons) ranks second in terms of the total imports with a 5.4% share, followed by Oman (4.7%). Qatar (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the amine-function compounds imports, with a CAGR of +17.2% from 2012 to 2021. At the same time, Oman (+13.7%) displayed positive paces of growth. By contrast, Saudi Arabia (-13.1%) and Qatar (-14.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates and Oman increased by +44 and +1.7 percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported amine-function compounds in GCC, comprising 77% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with an 11% share of total imports. It was followed by Oman, with a 6% share.

In the United Arab Emirates, amine-function compounds imports increased at an average annual rate of +9.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (-8.8% per year) and Oman (+11.4% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, increasing by 4.6% against the previous year. Overall, the import price, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2018 an increase of 15% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+7.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform