GCC: Market for Double Or Complex Silicates 2024

Market Size for Double Or Complex Silicates in GCC

The GCC double or complex silicates market reduced rapidly to $X in 2021, falling by -24.2% against the previous year. Overall, consumption showed a deep reduction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Double Or Complex Silicates in GCC

In value terms, double or complex silicates production declined dramatically to $X in 2021 estimated in export price. Over the period under review, production showed a deep slump. The pace of growth appeared the most rapid in 2020 with an increase of 507% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Exports of Double Or Complex Silicates

Exports in GCC

In 2021, approx. X tons of double or complex silicates were exported in GCC; growing by 1.6% compared with the year before. Over the period under review, exports saw a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 497% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, double or complex silicates exports reduced to $X in 2021. In general, exports enjoyed buoyant growth. The pace of growth was the most pronounced in 2013 with an increase of 281% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) represented roughly 99% of total exports in 2021.

The United Arab Emirates was also the fastest-growing in terms of the double or complex silicates exports, with a CAGR of +26.4% from 2012 to 2021. The United Arab Emirates (+37 p.p.) significantly strengthened its position in terms of the total exports, while 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 double or complex silicates supplier in GCC.

In the United Arab Emirates, double or complex silicates exports increased at an average annual rate of +17.0% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, waning by -13.4% against the previous year. In general, the export price continues to indicate a noticeable contraction. The growth pace was the most rapid in 2019 when the export price increased by 81%. Over the period under review, the export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to -7.4% per year.

Imports of Double Or Complex Silicates

Imports in GCC

In 2021, overseas purchases of double or complex silicates decreased by -12% to X tons, falling for the fourth consecutive year after four years of growth. In general, imports saw a mild curtailment. The growth pace was the most rapid in 2017 with an increase of 36% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, double or complex silicates imports reduced to $X in 2021. Overall, imports continue to indicate a deep slump. The growth pace was the most rapid in 2017 with an increase of 257%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Saudi Arabia was the major importing country with an import of about X tons, which finished at 59% of total imports. The United Arab Emirates (X tons) took a 29% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (5.3%) and Qatar (4.6%). Oman (X tons) followed a long way behind the leaders.

Saudi Arabia was also the fastest-growing in terms of the double or complex silicates imports, with a CAGR of +9.4% from 2012 to 2021. At the same time, Kuwait (+7.6%), Oman (+4.4%) and the United Arab Emirates (+3.0%) displayed positive paces of growth. By contrast, Qatar (-24.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Saudi Arabia, the United Arab Emirates and Kuwait increased by +35, +8.7 and +2.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported double or complex silicates in GCC, comprising 67% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 25% share of total imports. It was followed by Kuwait, with a 3.3% share.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia amounted to +14.6%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-0.9% per year) and Kuwait (+6.4% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, growing by 5.6% against the previous year. Overall, the import price, however, continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2017 an increase of 164%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, 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 ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+5.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform