GCC: Plaster Article Market 2024

Plaster Article Market Size in GCC

After two years of growth, the GCC plaster article market decreased by -20.1% to $X in 2021. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then dropped dramatically in the following year.

Plaster Article Production in GCC

In value terms, plaster article production declined to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 39% against the previous year. As a result, production attained the peak level of $X, and then fell in the following year.

Plaster Article Exports

Exports in GCC

In 2021, approx. X tons of articles of plaster or of compositions based on plaster were exported in GCC; rising by 19% on the previous year. In general, exports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2013 with an increase of 58% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, plaster article exports skyrocketed to $X in 2021. Total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 31% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons) and Oman (X tons) represented roughly 81% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), making up a 19% share of total exports.

From 2012 to 2021, the biggest increases were in Oman (with a CAGR of +35.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest plaster article supplying countries in GCC were Saudi Arabia ($X), Oman ($X) and the United Arab Emirates ($X), together accounting for 100% of total exports.

Oman, with a CAGR of +27.2%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, rising by 8.8% against the previous year. Over the period under review, the export price, however, recorded a abrupt downturn. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-5.0%), while the other leaders experienced a decline in the export price figures.

Plaster Article Imports

Imports in GCC

In 2021, imports of articles of plaster or of compositions based on plaster in GCC totaled X tons, increasing by 2.1% on 2020 figures. Total imports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -32.3% against 2016 indices. The pace of growth appeared the most rapid in 2015 when imports increased by 26%. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, plaster article imports reduced remarkably to $X in 2021. In general, imports, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 17%. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of plaster article imports in 2021 were the United Arab Emirates (X tons), Qatar (X tons), Kuwait (X tons), Bahrain (X tons) and Oman (X tons), together resulting at 98% of total import. Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Kuwait (with a CAGR of +22.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Qatar ($X) and Kuwait ($X) constituted the countries with the highest levels of imports in 2021, with a combined 75% share of total imports.

Kuwait, with a CAGR of +16.2%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, reducing by -21.8% against the previous year. Over the period under review, the import price saw a perceptible reduction. The most prominent rate of growth was recorded in 2017 when the import price increased by 20%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform