GCC: Market for Compounds With Other Nitrogen Function (Excluding Isocyanates) 2024

Market Size for Compounds With Other Nitrogen Function (Excluding Isocyanates) in GCC

The GCC market for compounds with other nitrogen function (excluding isocyanates) dropped dramatically to $X in 2022, waning by -72.2% against the previous year. In general, consumption, however, posted a prominent increase. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Compounds With Other Nitrogen Function (Excluding Isocyanates) in GCC

In value terms, compounds with other nitrogen function production declined to $X in 2022 estimated in export price. Overall, production, however, saw a significant increase. The growth pace was the most rapid in 2014 when the production volume increased by 200%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Exports in GCC

In 2022, after four years of decline, there was significant growth in shipments abroad of compounds with other nitrogen function (excluding isocyanates), when their volume increased by 25% to X tons. In general, exports, however, continue to indicate a deep contraction. The growth pace was the most rapid in 2013 when exports increased by 419% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, compounds with other nitrogen function exports fell remarkably to $X in 2022. Overall, exports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2013 when exports increased by 500%. The level of export peaked at $X in 2015; however, from 2016 to 2022, 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 compounds with other nitrogen function (excluding isocyanates) exports, with a CAGR of -8.1% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest compounds with other nitrogen function supplier in GCC.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at -13.4%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, declining by -38.6% against the previous year. In general, the export price saw a abrupt slump. The growth pace was the most rapid in 2020 when the export price increased by 163%. As a result, the export price reached the peak level of $X per ton. From 2021 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 -5.8% per year.

Imports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Imports in GCC

Compounds with other nitrogen function imports skyrocketed to X tons in 2022, increasing by 166% compared with the previous year. In general, imports, however, recorded a dramatic downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 425% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, compounds with other nitrogen function imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a sharp decrease. The growth pace was the most rapid in 2020 with an increase of 268% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates prevails in imports structure, amounting to X tons, which was approx. 92% of total imports in 2022. It was distantly followed by Kuwait (X tons), mixing up a 6.1% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the compounds with other nitrogen function (excluding isocyanates) imports, with a CAGR of -3.9% from 2012 to 2022. Kuwait (-5.5%) illustrated a downward trend over the same period. The United Arab Emirates (+91 p.p.) and Kuwait (+6 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported compounds with other nitrogen function (excluding isocyanates) in GCC, comprising 91% of total imports. The second position in the ranking was held by Kuwait ($X), with a 5.1% share of total imports.

In the United Arab Emirates, compounds with other nitrogen function imports shrank by an average annual rate of -6.2% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, shrinking by -24.3% against the previous year. Overall, the import price, however, posted a notable expansion. The pace of growth was the most pronounced in 2021 when the import price increased by 101% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Average prices varied noticeably 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 Kuwait totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+0.0%).

Source: IndexBox Platform