GCC: Hydrogen Peroxide Market 2024

Hydrogen Peroxide Market Size in GCC

The GCC hydrogen peroxide market rose modestly to $X in 2022, increasing by 3.2% against the previous year. In general, consumption posted a buoyant increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Hydrogen Peroxide Production in GCC

In value terms, hydrogen peroxide production stood at $X in 2022 estimated in export price. Overall, production enjoyed a prominent increase. The pace of growth was the most pronounced in 2016 when the production volume increased by 52% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Hydrogen Peroxide Exports

Exports in GCC

In 2022, hydrogen peroxide exports in GCC contracted to X tons, falling by -8.4% compared with 2021. Overall, exports saw a significant contraction. The growth pace was the most rapid in 2017 with an increase of 51%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, hydrogen peroxide exports dropped to $X in 2022. In general, exports saw a precipitous slump. The pace of growth appeared the most rapid in 2021 with an increase of 48%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) prevails in exports structure, together creating 92% of total exports. It was distantly followed by Oman (X tons), mixing up a 5.1% share of total exports. Bahrain (X tons) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Bahrain (with a CAGR of +27.6%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest hydrogen peroxide supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Bahrain ($X), with a combined 99% share of total exports.

Bahrain, with a CAGR of +28.4%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, which is down by -6.1% against the previous year. Export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hydrogen peroxide export price increased by +15.7% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by 90% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.1%), while the other leaders experienced more modest paces of growth.

Hydrogen Peroxide Imports

Imports in GCC

In 2022, overseas purchases of hydrogen peroxide decreased by -1.7% to X tons, falling for the second consecutive year after two years of growth. In general, imports continue to indicate a noticeable downturn. The growth pace was the most rapid in 2019 with an increase of 37% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, hydrogen peroxide imports soared to $X in 2022. Overall, imports saw a pronounced downturn. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates represented the largest importing country with an import of around X tons, which recorded 62% of total imports. Bahrain (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Oman (9.6%), Qatar (7.6%) and Kuwait (5.3%).

Imports into the United Arab Emirates increased at an average annual rate of +4.0% from 2012 to 2022. At the same time, Qatar (+48.3%), Bahrain (+17.2%) and Kuwait (+6.2%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +48.3% from 2012-2022. By contrast, Oman (-14.7%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+34 p.p.), Bahrain (+14 p.p.), Qatar (+7.5 p.p.) and Kuwait (+3.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Oman (-21.6 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported hydrogen peroxide in GCC, comprising 58% of total imports. The second position in the ranking was taken by Bahrain ($X), with an 18% share of total imports. It was followed by Qatar, with a 9.2% share.

In the United Arab Emirates, hydrogen peroxide imports increased at an average annual rate of +1.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Bahrain (+15.2% per year) and Qatar (+44.7% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, rising by 31% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Kuwait ($X per ton) and Qatar ($X per ton), while Oman ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform