GCC: Ether Market 2024

Ether Market Size in GCC

The GCC ether market fell to $X in 2022, reducing by -12.3% against the previous year. The total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -19.6% against 2020 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Ether Production in GCC

In value terms, ether production fell modestly to $X in 2022 estimated in export price. Over the period under review, production posted a mild increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 280%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Ether Exports

Exports in GCC

In 2022, ether exports in GCC rose modestly to X tons, surging by 1.8% against 2021. Over the period under review, exports showed a notable increase. The pace of growth appeared the most rapid in 2017 when exports increased by 323% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, ether exports dropped to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 283% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia dominates exports structure, resulting at X tons, which was approx. 89% of total exports in 2022. It was distantly followed by Qatar (X tons), mixing up a 7% share of total exports. The following exporters - the United Arab Emirates (X tons) and Kuwait (X tons) - each reached a 3.7% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to ether exports from Saudi Arabia stood at +4.3%. At the same time, Qatar (+7.7%) and Kuwait (+1.7%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing exporter exported in GCC, with a CAGR of +7.7% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. While the share of Qatar (+7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (-4.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest ether supplier in GCC, comprising 83% of total exports. The second position in the ranking was taken by Qatar ($X), with a 12% share of total exports. It was followed by the United Arab Emirates, with a 3% share.

In Saudi Arabia, ether exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Qatar (+70.9% per year) and the United Arab Emirates (-4.6% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, with a decrease of -7.6% against the previous year. In general, the export price showed a pronounced slump. The most prominent rate of growth was recorded in 2021 an increase of 33% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+58.8%), while the other leaders experienced a decline in the export price figures.

Ether Imports

Imports in GCC

In 2022, imports of ethers in GCC shrank sharply to X tons, waning by -27.2% against the previous year's figure. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 64%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, ether imports dropped to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 40%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) represented the major importer of ethers, creating 59% of total imports. It was distantly followed by Oman (X tons), comprising a 35% share of total imports. Saudi Arabia (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +5.5%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported ethers in GCC, comprising 65% of total imports. The second position in the ranking was held by Oman ($X), with a 21% share of total imports.

In the United Arab Emirates, ether imports plunged by an average annual rate of -1.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (+0.1% per year) and Saudi Arabia (+1.9% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, surging by 20% against the previous year. Overall, the import price, however, showed a mild curtailment. The pace of growth appeared the most rapid in 2021 when the import price increased by 35% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 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 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 the United Arab Emirates (+0.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform