GCC: Market for High-Tenacity Filament Yarn Of Aramids 2024

Market Size for High-Tenacity Filament Yarn Of Aramids in GCC

The GCC high-tenacity filament aramids yarn market reduced slightly to $X in 2022, shrinking by -3.5% against the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.4% against 2020 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of High-Tenacity Filament Yarn Of Aramids in GCC

In value terms, high-tenacity filament aramids yarn production declined to $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.7% against 2020 indices. The growth pace was the most rapid in 2013 when the production volume increased by 44% against the previous year. 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 High-Tenacity Filament Yarn Of Aramids

Exports in GCC

High-tenacity filament aramids yarn exports reduced remarkably to X tons in 2022, with a decrease of -72.2% against 2021. Over the period under review, exports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2021 when exports increased by 913%. As a result, the exports reached the peak of X tons, and then contracted remarkably in the following year.

In value terms, high-tenacity filament aramids yarn exports contracted significantly to $X in 2022. In general, exports recorded a deep slump. The growth pace was the most rapid in 2021 with an increase of 216%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of high-tenacity filament yarn of aramids, namely the United Arab Emirates, represented more than two-thirds of total export.

The United Arab Emirates was also the fastest-growing in terms of the high-tenacity filament yarn of aramids exports, with a CAGR of -10.5% 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 high-tenacity filament aramids yarn supplier in GCC.

In the United Arab Emirates, high-tenacity filament aramids yarn exports shrank by an average annual rate of -11.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, surging by 111% against the previous year. Overall, the export price, however, continues to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2019 when the export price increased by 338% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 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 -1.6% per year.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports in GCC

High-tenacity filament aramids yarn imports contracted markedly to X tons in 2022, with a decrease of -29.9% on the previous year. In general, imports continue to indicate a noticeable contraction. The pace of growth was the most pronounced in 2021 when imports increased by 139%. As a result, imports attained the peak of X tons, and then declined remarkably in the following year.

In value terms, high-tenacity filament aramids yarn imports declined sharply to $X in 2022. Over the period under review, imports showed a abrupt contraction. The growth pace was the most rapid in 2021 when imports increased by 105%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Oman prevails in imports structure, recording X tons, which was near 94% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), generating a 5.3% share of total imports.

Oman was also the fastest-growing in terms of the high-tenacity filament yarn of aramids imports, with a CAGR of +5.7% from 2012 to 2022. The United Arab Emirates (-16.6%) illustrated a downward trend over the same period. While the share of Oman (+50 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (-20.9 p.p.) displayed negative dynamics.

In value terms, Oman ($X) constitutes the largest market for imported high-tenacity filament yarn of aramids in GCC, comprising 88% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 10% share of total imports.

In Oman, high-tenacity filament aramids yarn imports expanded at an average annual rate of +3.0% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, surging by 7.6% against the previous year. Overall, the import price, however, continues to indicate a pronounced decline. The pace of growth appeared the most rapid in 2015 when the import price increased by 46%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices remained at a lower figure.

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 the United Arab Emirates ($X per ton), while Oman amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.4%).

Source: IndexBox Platform