GCC: Carbon Electrode Market 2024

Carbon Electrode Market Size in GCC

In 2022, the GCC carbon electrode market increased by 49% to $X, rising for the second consecutive year after two years of decline. In general, consumption recorded prominent growth. The level of consumption peaked in 2022 and is likely to see gradual growth in the near future.

Carbon Electrode Production in GCC

In value terms, carbon electrode production amounted to $X in 2022 estimated in export price. Overall, production, however, recorded a sharp setback. The pace of growth was the most pronounced in 2017 when the production volume increased by 6,765,795%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Carbon Electrode Exports

Exports in GCC

In 2022, the amount of carbon electrodes exported in GCC reduced sharply to X tons, shrinking by -81.8% on the previous year's figure. In general, exports continue to indicate a precipitous setback. The most prominent rate of growth was recorded in 2018 with an increase of 326%. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, carbon electrode exports declined sharply to $X in 2022. Overall, exports faced a deep reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 300%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates represented the major exporting country with an export of about X tons, which finished at 57% of total exports. Saudi Arabia (X tons) took the second position in the ranking, followed by Bahrain (X tons) and Oman (X tons). All these countries together took near 43% share of total exports.

Exports from the United Arab Emirates decreased at an average annual rate of -14.0% from 2012 to 2022. At the same time, Saudi Arabia (+41.4%) and Oman (+24.3%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +41.4% from 2012-2022. By contrast, Bahrain (-35.1%) illustrated a downward trend over the same period. The United Arab Emirates (+41 p.p.), Saudi Arabia (+19 p.p.) and Oman (+6.5 p.p.) significantly strengthened its position in terms of the total exports, while Bahrain saw its share reduced by -66% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest carbon electrode supplier in GCC, comprising 63% of total exports. The second position in the ranking was held by Bahrain ($X), with a 20% share of total exports. It was followed by Oman, with a 9.6% share.

In the United Arab Emirates, carbon electrode exports shrank by an average annual rate of -12.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bahrain (-25.9% per year) and Oman (+24.7% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, surging by 8.9% against the previous year. Over the period under review, the export price showed a strong expansion. The pace of growth was the most pronounced in 2015 when the export price increased by 85%. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Oman ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+14.2%), while the other leaders experienced more modest paces of growth.

Carbon Electrode Imports

Imports in GCC

In 2022, purchases abroad of carbon electrodes increased by 44% to X tons, rising for the fifth year in a row after two years of decline. Overall, imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of 74%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, carbon electrode imports soared to $X in 2022. In general, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 176%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, the United Arab Emirates (X tons) represented the major importer of carbon electrodes, achieving 82% of total imports. It was distantly followed by Bahrain (X tons), generating a 12% share of total imports. The following importers - Saudi Arabia (X tons), Qatar (X tons) and Oman (X tons) - each finished at a 5.9% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to carbon electrode imports into the United Arab Emirates stood at +18.0%. At the same time, Bahrain (+27.4%), Qatar (+3.5%) and Oman (+1.3%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +27.4% from 2012-2022. By contrast, Saudi Arabia (-8.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates and Bahrain increased by +20 and +7.8 percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported carbon electrodes in GCC, comprising 72% of total imports. The second position in the ranking was held by Bahrain ($X), with a 14% share of total imports. It was followed by Saudi Arabia, with a 6.4% share.

In the United Arab Emirates, carbon electrode imports expanded at an average annual rate of +16.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Bahrain (+20.0% per year) and Saudi Arabia (-1.3% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, increasing by 1.6% against the previous year. Over the period under review, the import price, however, showed a pronounced slump. The most prominent rate of growth was recorded in 2018 when the import price increased by 58%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($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 (+8.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform