GCC: Carbon Dioxide Market 2025

Carbon Dioxide Market Size in GCC

In 2022, after six years of growth, there was significant decline in the GCC carbon dioxide market, when its value decreased by -36.3% to $X. Overall, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2021, and then shrank remarkably in the following year.

Carbon Dioxide Production in GCC

In value terms, carbon dioxide production contracted to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 24%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Carbon Dioxide Exports

Exports in GCC

In 2022, approx. X tons of carbon dioxide were exported in GCC; surging by 8.1% against the previous year. Overall, exports continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of 53% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, carbon dioxide exports totaled $X in 2022. In general, exports, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2021 when exports increased by 28%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Kuwait (X tons) and Bahrain (X tons) represented roughly 75% of total exports in 2022. Oman (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (12%).

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +50.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest carbon dioxide supplying countries in GCC were Kuwait ($X), Bahrain ($X) and Saudi Arabia ($X), together comprising 82% of total exports.

Bahrain, with a CAGR of +37.2%, recorded the highest growth rate of 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 2022, the export price in GCC amounted to $X per ton, dropping by -3.5% against the previous year. In general, the export price faced a abrupt descent. The most prominent rate of growth was recorded in 2019 an increase of 4.2%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 Saudi Arabia ($X per ton), while Kuwait ($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 (-4.6%), while the other leaders experienced a decline in the export price figures.

Carbon Dioxide Imports

Imports in GCC

After five years of growth, overseas purchases of carbon dioxide decreased by -95.4% to X tons in 2022. Over the period under review, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 75%. As a result, imports attained the peak of X tons, and then dropped markedly in the following year.

In value terms, carbon dioxide imports contracted dramatically to $X in 2022. Overall, imports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2021 with an increase of 25%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Qatar was the key importer of carbon dioxide in GCC, with the volume of imports recording X tons, which was approx. 55% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons) and Kuwait (X tons), together achieving a 45% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +110.2%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported carbon dioxide in GCC, comprising 72% of total imports. The second position in the ranking was taken by Qatar ($X), with a 10% share of total imports.

In the United Arab Emirates, carbon dioxide imports declined by an average annual rate of -14.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Qatar (+37.9% per year) and Kuwait (+4.5% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, rising by 951% against the previous year. Over the period under review, the import price posted a strong expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+18.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform