GCC: Buta-1,3-Diene And Isoprene Market 2024

Buta-1,3-Diene And Isoprene Market Size in GCC

The GCC buta-1,3-diene and isoprene market fell slightly to $X in 2022, which is down by -4.7% against the previous year. Over the period under review, consumption, however, enjoyed a prominent increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Buta-1,3-Diene And Isoprene Production in GCC

In value terms, buta-1,3-diene and isoprene production declined to $X in 2022 estimated in export price. The total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +6.3% against 2020 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 85% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Buta-1,3-Diene And Isoprene Exports

Exports in GCC

For the sixth year in a row, GCC recorded decline in shipments abroad of buta-1,3-diene and isoprene, which decreased by -0.5% to X tons in 2022. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 283% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, buta-1,3-diene and isoprene exports contracted sharply to $X in 2022. In general, exports showed a abrupt curtailment. The pace of growth was the most pronounced in 2013 when exports increased by 331% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Oman (X tons) was the main exporter of buta-1,3-diene and isoprene, comprising 86% of total exports. It was distantly followed by the United Arab Emirates (X tons), constituting a 14% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to buta-1,3-diene and isoprene exports from Oman stood at +14.8%. At the same time, the United Arab Emirates (+44.7%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of +44.7% from 2012-2022. While the share of Oman (+77 p.p.) and the United Arab Emirates (+14 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Oman ($X) remains the largest buta-1,3-diene and isoprene supplier in GCC, comprising 84% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 16% share of total exports.

In Oman, buta-1,3-diene and isoprene exports increased at an average annual rate of +6.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, falling by -18.6% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 75%. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably 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 totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-5.7%).

Buta-1,3-Diene And Isoprene Imports

Imports in GCC

In 2022, purchases abroad of buta-1,3-diene and isoprene decreased by -37.9% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, posted a significant expansion. The growth pace was the most rapid in 2017 with an increase of 203,089% against the previous year. The volume of import peaked at X tons in 2021, and then declined markedly in the following year.

In value terms, buta-1,3-diene and isoprene imports fell rapidly to $X in 2022. Overall, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2017 with an increase of 440,439% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then declined dramatically in the following year.

Imports by Country

Saudi Arabia dominates imports structure, amounting to X tons, which was approx. 97% of total imports in 2022. The United Arab Emirates (X tons) held a minor share of total imports.

Saudi Arabia was also the fastest-growing in terms of the buta-1,3-diene and isoprene imports, with a CAGR of +16.7% from 2012 to 2022. At the same time, the United Arab Emirates (+7.7%) displayed positive paces of growth. Saudi Arabia (+97 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -96.2% from 2012 to 2022, respectively.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported buta-1,3-diene and isoprene in GCC, comprising 83% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 17% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia totaled +8.7%.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, increasing by 13% against the previous year. In general, the import price posted resilient growth. The pace of growth appeared the most rapid in 2017 an increase of 117% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+31.8%).

Source: IndexBox Platform