GCC: Azo- Or Azoxy-Compounds Market 2024

Azo- Or Azoxy-Compounds Market Size in GCC

The GCC azo- or azoxy-compounds market dropped to $X in 2022, with a decrease of -3.6% against the previous year. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Azo- Or Azoxy-Compounds Production in GCC

In value terms, azo- or azoxy-compounds production reduced to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 21%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Azo- Or Azoxy-Compounds Exports

Exports in GCC

Azo- or azoxy-compounds exports contracted remarkably to X tons in 2022, reducing by -30.3% on the previous year's figure. Over the period under review, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 525% against the previous year. The volume of export peaked at X tons in 2021, and then shrank rapidly in the following year.

In value terms, azo- or azoxy-compounds exports fell sharply to $X in 2022. In general, exports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 330%. The level of export peaked at $X in 2021, and then fell rapidly in the following year.

Exports by Country

The biggest shipments were from the United Arab Emirates (X tons), together recording 100% of total export.

The United Arab Emirates was also the fastest-growing in terms of the diazo-, azo- or azoxy-compounds exports, with a CAGR of +21.8% from 2012 to 2022. While the share of the United Arab Emirates (+18 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest azo- or azoxy-compounds supplier in GCC.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at +19.4%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the export price, however, recorded a noticeable decrease. The growth pace was the most rapid in 2013 an increase of 33% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2015; however, from 2016 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 -2.0% per year.

Azo- Or Azoxy-Compounds Imports

Imports in GCC

In 2022, supplies from abroad of diazo-, azo- or azoxy-compounds decreased by -7.2% to X tons for the first time since 2016, thus ending a five-year rising trend. In general, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 84% against the previous year. The volume of import peaked at X tons in 2021, and then fell in the following year.

In value terms, azo- or azoxy-compounds imports contracted dramatically to $X in 2022. Over the period under review, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2013 when imports increased by 112% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped notably in the following year.

Imports by Country

The United Arab Emirates dominates imports structure, accounting for X tons, which was approx. 92% of total imports in 2022. It was distantly followed by Saudi Arabia (X tons), creating a 7.4% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the diazo-, azo- or azoxy-compounds imports, with a CAGR of +20.0% from 2012 to 2022. At the same time, Saudi Arabia (+19.1%) displayed positive paces of growth. While the share of Saudi Arabia (+7.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (-7.4 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported diazo-, azo- or azoxy-compounds in GCC, comprising 90% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 9.2% share of total imports.

In the United Arab Emirates, azo- or azoxy-compounds imports expanded at an average annual rate of +18.6% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, dropping by -13% against the previous year. In general, the import price continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2021 when the import price increased by 41% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-1.2%).

Source: IndexBox Platform