GCC: Cement Clinker Market 2024

Cement Clinker Market Size in GCC

After three years of growth, the GCC cement clinker market decreased by -4.2% to $X in 2022. In general, consumption recorded a slight contraction. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Cement Clinker Production in GCC

In value terms, cement clinker production rose rapidly to $X in 2022 estimated in export price. In general, production saw a slight decrease. The growth pace was the most rapid in 2020 when the production volume increased by 19% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Cement Clinker Exports

Exports in GCC

After two years of decline, shipments abroad of cement clinker increased by 18% to X tons in 2022. Over the period under review, exports posted strong growth. The pace of growth appeared the most rapid in 2015 with an increase of 82%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, cement clinker exports rose sharply to $X in 2022. In general, exports recorded strong growth. The growth pace was the most rapid in 2013 with an increase of 88% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, the United Arab Emirates (X tons) was the largest exporter of cement clinker, achieving 68% of total exports. Saudi Arabia (X tons) took the second position in the ranking, distantly followed by Oman (X tons). All these countries together held approx. 32% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cement clinker exports from the United Arab Emirates stood at +10.1%. At the same time, Oman (+21.0%) and Saudi Arabia (+13.0%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +21.0% from 2012-2022. Oman (+3.7 p.p.) and Saudi Arabia (+3.6 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -7.3% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest cement clinker supplier in GCC, comprising 66% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 28% share of total exports.

In the United Arab Emirates, cement clinker exports expanded at an average annual rate of +6.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+9.4% per year) and Oman (+22.8% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, declining by -9.2% against the previous year. Overall, the export price recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 19%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+1.2%), while the other leaders experienced a decline in the export price figures.

Cement Clinker Imports

Imports in GCC

In 2022, the amount of cement clinker imported in GCC shrank remarkably to X tons, which is down by -25.4% on 2021. Over the period under review, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2013 when imports increased by 315% against the previous year. The volume of import peaked at X tons in 2021, and then shrank significantly in the following year.

In value terms, cement clinker imports fell notably to $X in 2022. Overall, imports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 209%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Oman was the key importing country with an import of around X tons, which finished at 44% of total imports. Kuwait (X tons) held the second position in the ranking, distantly followed by Bahrain (X tons), Qatar (X tons) and the United Arab Emirates (X tons). All these countries together held approx. 56% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +43.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Oman ($X), Kuwait ($X) and Bahrain ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 86% share of total imports.

Among the main importing countries, Oman, with a CAGR of +42.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, rising by 4.7% against the previous year. Over the period under review, the import price, however, saw a abrupt shrinkage. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 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 ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform