GCC: Market for Benzoyl Peroxide And Benzoyl Chloride 2024

Market Size for Benzoyl Peroxide And Benzoyl Chloride in GCC

For the fifth consecutive year, the GCC benzoyl peroxide and chloride market recorded growth in sales value, which increased by 14% to $X in 2022. Over the period under review, consumption posted a buoyant increase. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Production of Benzoyl Peroxide And Benzoyl Chloride in GCC

In value terms, benzoyl peroxide and chloride production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 41% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Benzoyl Peroxide And Benzoyl Chloride

Exports in GCC

Benzoyl peroxide and chloride exports declined to X tons in 2022, remaining relatively unchanged against the previous year's figure. Over the period under review, exports recorded a abrupt downturn. The pace of growth was the most pronounced in 2014 with an increase of 621%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, benzoyl peroxide and chloride exports reached $X in 2022. Overall, exports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2015 with an increase of 434% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) represented roughly 100% of total exports in 2022.

The United Arab Emirates was also the fastest-growing in terms of the benzoyl peroxide and benzoyl chloride exports, with a CAGR of -2.6% from 2012 to 2022. The United Arab Emirates (+60 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest benzoyl peroxide and chloride supplier in GCC.

In the United Arab Emirates, benzoyl peroxide and chloride exports increased at an average annual rate of +1.1% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, rising by 5.2% against the previous year. Export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, benzoyl peroxide and chloride export price decreased by -13.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 59%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +3.8% per year.

Imports of Benzoyl Peroxide And Benzoyl Chloride

Imports in GCC

Benzoyl peroxide and chloride imports rose rapidly to X tons in 2022, surging by 13% on the previous year's figure. In general, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by 287% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, benzoyl peroxide and chloride imports expanded significantly to $X in 2022. Overall, imports continue to indicate a strong expansion. The growth pace was the most rapid in 2020 when imports increased by 101% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

The United Arab Emirates dominates imports structure, finishing at X tons, which was approx. 96% of total imports in 2022. Qatar (X tons) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of +27.2% from 2012 to 2022. At the same time, Qatar (+31.7%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +31.7% from 2012-2022. While the share of the United Arab Emirates (+47 p.p.) and Qatar (+2.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported benzoyl peroxide and benzoyl chloride in GCC, comprising 81% of total imports. The second position in the ranking was taken by Qatar ($X), with a 14% share of total imports.

In the United Arab Emirates, benzoyl peroxide and chloride imports expanded at an average annual rate of +21.9% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, remaining constant against the previous year. Over the period under review, the import price saw a pronounced decrease. The growth pace was the most rapid in 2018 when the import price increased by 40%. Over the period under review, import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 Qatar ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+7.0%).

Source: IndexBox Platform