GCC: Graphite Market 2024

Graphite Market Size in GCC

The GCC graphite market shrank significantly to $X in 2021, falling by -29.7% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Graphite Production in GCC

In value terms, graphite production fell to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 18% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Graphite Exports

Exports in GCC

In 2021, approx. X tons of graphite (natural) were exported in GCC; with an increase of 144% on the previous year. In general, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 395%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, graphite exports rose slightly to $X in 2021. Overall, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 311% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, the United Arab Emirates (X tons) represented the major exporter of graphite (natural) in GCC, constituting 99% of total export.

The United Arab Emirates was also the fastest-growing in terms of the graphite (natural) exports, with a CAGR of +31.5% from 2012 to 2021. The United Arab Emirates (+23 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 graphite supplier in GCC.

In the United Arab Emirates, graphite exports increased at an average annual rate of +14.7% over the period from 2012-2021.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, which is down by -57.9% against the previous year. Overall, the export price continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2014 an increase of 32% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 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 -12.8% per year.

Graphite Imports

Imports in GCC

Graphite imports declined modestly to X tons in 2021, reducing by -3.3% on the previous year. In general, imports, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2020 when imports increased by 371% against the previous year. As a result, imports attained the peak of X tons, and then declined slightly in the following year.

In value terms, graphite imports declined slightly to $X in 2021. Overall, imports, however, enjoyed notable growth. The most prominent rate of growth was recorded in 2014 when imports increased by 700% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates represented the main importer of graphite (natural) in GCC, with the volume of imports amounting to X tons, which was near 85% of total imports in 2021. It was distantly followed by Kuwait (X tons), comprising an 11% share of total imports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to graphite imports into the United Arab Emirates stood at +22.4%. At the same time, Kuwait (+57.2%) and Oman (+5.0%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +57.2% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates and Kuwait increased by +39 and +11 percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported graphite (natural) in GCC, comprising 69% of total imports. The second position in the ranking was held by Kuwait ($X), with a 12% share of total imports.

In the United Arab Emirates, graphite imports increased at an average annual rate of +14.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+47.6% per year) and Oman (-1.0% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. In general, the import price, however, continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2019 when the import price increased by 104% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Oman ($X per ton), while the United Arab Emirates ($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 (-5.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform