GCC: Imines Market 2024

Imines Market Size in GCC

The GCC imines market totaled $X in 2021, with an increase of 13% against the previous year. Overall, consumption posted a strong expansion. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in the near future.

Imines Production in GCC

In value terms, imines production surged to $X in 2021 estimated in export price. In general, production, however, showed a resilient increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 1,741%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Imines Exports

Exports in GCC

After three years of decline, overseas shipments of imines and their derivatives and salts thereof increased by 378% to X tons in 2021. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 703% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, imines exports surged to $X in 2021. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 533% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates dominates exports structure, accounting for X tons, which was near 96% of total exports in 2021. Saudi Arabia (X tons) held a little share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the imines and their derivatives and salts thereof exports, with a CAGR of +39.8% from 2012 to 2021. Saudi Arabia (-11.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates increased by +63 percentage points.

In value terms, the United Arab Emirates ($X) remains the largest imines supplier in GCC, comprising 96% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 3.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates stood at +37.7%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, picking up by 31% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the export price increased by 40%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-0.2%).

Imines Imports

Imports in GCC

In 2021, purchases abroad of imines and their derivatives and salts thereof increased by 15% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, imports saw a strong expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 159%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, imines imports soared to $X in 2021. Overall, imports enjoyed prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 146% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons) was the major importer of imines and their derivatives and salts thereof, creating 63% of total imports. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Oman (X tons). All these countries together held near 34% share of total imports. Kuwait (X tons) followed a long way behind the leaders.

Imports into Saudi Arabia increased at an average annual rate of +9.0% from 2012 to 2021. At the same time, Oman (+36.8%), Kuwait (+14.9%) and the United Arab Emirates (+2.0%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +36.8% from 2012-2021. Oman (+11 p.p.) and Saudi Arabia (+3 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -15.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Oman ($X) were the countries with the highest levels of imports in 2021, together comprising 97% of total imports.

Oman, with a CAGR of +34.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, rising by 62% against the previous year. Over the period under review, the import price continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 when the import price increased by 200%. Over the period under review, import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+11.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform