GCC: Amino-Resin Market 2024

Amino-Resin Market Size in GCC

In 2022, after two years of growth, there was significant decline in the GCC amino-resin market, when its value decreased by X% to $X. The total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Amino-Resin Production in GCC

In value terms, amino-resin production amounted to $X in 2022 estimated in export price. The total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2018 indices. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Amino-Resin Exports

Exports in GCC

Amino-resin exports skyrocketed to X tons in 2022, picking up by X% on 2021. In general, exports showed resilient growth. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, amino-resin exports skyrocketed to $X in 2022. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, Saudi Arabia (X tons) was the main exporter of amino-resins, phenolic resins and polyurethanes (in primary forms), achieving X% of total exports. The United Arab Emirates (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Oman (X%).

Saudi Arabia was also the fastest-growing in terms of the amino-resins, phenolic resins and polyurethanes (in primary forms) exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Oman (X%) displayed positive paces of growth. Saudi Arabia (X p.p.) significantly strengthened its position in terms of the total exports, while Oman saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest amino-resin supplying countries in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Oman ($X), together comprising X% of total exports.

In terms of the main exporting countries, Saudi Arabia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, dropping by X% against the previous year. Export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, amino-resin export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped rapidly in the following year.

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 the United Arab Emirates ($X per ton), while Oman ($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 (X%), while the other leaders experienced mixed trends in the export price figures.

Amino-Resin Imports

Imports in GCC

In 2022, after three years of growth, there was significant decline in purchases abroad of amino-resins, phenolic resins and polyurethanes (in primary forms), when their volume decreased by X% to X tons. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2021, and then reduced remarkably in the following year.

In value terms, amino-resin imports fell to $X in 2022. Total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

The United Arab Emirates prevails in imports structure, recording X tons, which was approx. X% of total imports in 2022. It was distantly followed by Saudi Arabia (X tons) and Kuwait (X tons), together comprising a X% share of total imports. Qatar (X tons), Oman (X tons) and Bahrain (X tons) held a minor share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%), Bahrain (X%), Kuwait (X%) and Qatar (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported amino-resins, phenolic resins and polyurethanes (in primary forms) in GCC, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with an X% share of total imports. It was followed by Kuwait, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform